Top DeFi news april week 2

The DeFi ecosystem is one of the most innovative aspects of the blockchain space. To keep our readers informed we have compiled some of last week’s DeFi updates.

These DeFi updates include strategic partnerships, funding events, product launches, etc. Loopring’s upcoming Loophead drop #3 announcement and Toucan partnership with Celo are some of last week’s DeFi updates. Therefore, let’s find out some more DeFi updates.

1. Do Kwon Declares War on DAI Stablecoin

Last week, the Founder and CEO of Terraform Labs, Do Kwon, announced plans to make DAI stablecoin less attractive to investors. This is in a bid to further strengthen the UST stablecoin.

Therefore, to achieve this, Kwon announced the launch of the Curve “4pool”, a highly incentivized liquidity pool. The pool will essentially starve DAI “3pool” of liquidity. While strengthening UST and three other stablecoins.

2. Grayscale Reviews Its DeFi Portfolio

Digital asset investment advisory firm, Grayscale, has shaken up its DeFi portfolio in line with its Q1 2022 rebalancing. Interestingly, the firm removed Synthetix (SNX) and Sushi (SUSHI) from its DeFi portfolio.

Also, as a replacement for both DeFi tokens, the firm added Avalanche (AVAX) and Polkadot (DOT) tokens to its Digital Large Cap Fund portfolio. Notably, it also added $ATOM to its Smart Contract Platform.

3. NEAR Protocol Complete Its Funding Round

NEAR Protocol recently completed a funding round where it raised $350 million. Also, several top firms like Tiger Global, FTX Ventures, etc took part in the funding round. The fund will be directed at making NEAR protocol a top dapp platform. Furthermore, making it a worthy opponent to top dapp blockchain Ethereum.

Moreover, NEAR protocol raised a whopping $15o million this January. It also raised $21.6 million in 2020.

4. Lightning Labs Raises $70 Million In Funding Round

Bitcoin developer firm, Lightning Labs, recently completed its Series B funding round, where it raised $70 million. The funding round led by Valor Equity Partners will also help build a new protocol on the Lightning network, dubbed Taro. Moreover, Taro will facilitate the seamless transfer of stablecoins on the Bitcoin Lightning network.

Also, other firms like Baillie Gifford, Goldcrest Capital, and several angel investors participated in the funding round.

5. Polkadex Partners with Equilibrium

Last week, substrate-based DEX order book, Polkadex announces the details of a strategic partnership with Equilibrium DeFi. Also, the partnership will make it possible for Equilibrium DeFi to provide Polkadex crowdloan participants with a better crowdloan experience.

Therefore, this means that interested persons can loan their DOT token on Equilibrium to earn PDEX rewards as high as 10x.

6. Loopring Announces Upcoming Loophead Drop #3

ETH layer 2 zkrollups protocol, Loopring, has released details of its upcoming Loophead Drop #3. According to the announcement, Loophead Drop #3 will take place for one month. Starting on April 15th to May 15th, 2022.

Also, LP users in designated AMM pools will have the opportunity to win one of the 1000 loophead. Some of the supported pools include LRC/ETH, LRC/USDC, SAND/USDC, etc.


7. OpenBiSea Launch on Kava Network

Top NFT marketplace OpenBiSea went live on Ethereum and Cosmos co-chain Kava Network. Also, the partnership will help unlock NFTs on the Kava Network.

Moreover, Kava is popularly known as an L-1 blockchain that is scalable and fast.

8. Toucan & Celo, and Climate Collective Makes a  Partnership

Toucan, Celo, and Climate Collective recently entered into a strategic partnership. Interestingly, the partnership will bring Toucan’s carbon ecosystem to Celo Foundation. Therefore, facilitating a climate ecosystem that is both transparent and accessible.

Together the partners will complete several important updates. These updates include:

  • The launch of the Celo-Polygon bridge
  • Toucan Protocol launch on Celo
  • The addition of BCT and NCT to Celo reserve, and
  • The launch of a Celo and Toucan grant program.

9. MatrixedLink Now a Chainlink Node Operator

Top Dutch Web 3 service provider, MatrixedLink, is now one of the Chainlink’s node operators. This means that MatrixedLink will now help to secure the data feed on Chainlink.

Also, Chainlink is known as a top-quality data oracle platform. Moreover, it provides developers with a secure and reliable data feed to facilitate the creation of top-notch decentralized applications (dapps).

10. Bitrue Partners With Terra (LUNA)

Finally, the crypto asset management platform, Bitrue, has partnered with Terra. This means that Bitrue now supports the fast-growing Terra (LUNA) ecosystem. Also, it means that it will support TerraUSD (UST) deposits and withdrawals. Trading will also be agnostic. This means that trading can be done across different chains.

Finally, for more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

Above all, find the most undervalued gems, up-to-date research, and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.


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