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DeFi Updates | Everlend Launch | May Week 1

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In line with this, we have compiled some of last week to DeFi updates. These DeFi updates include:

  • strategic partnerships
  • mainnet launches,
  • product updates, etc.

Along with tofuNFT’s partnership with Tozoku Frens and Polkadot’s launch of its XCM parachain-to-parachain communication platform are some of last week’s top updates.

According to Coingecko, the entire DeFi ecosystem currently has a market cap of $97,153,418,170 with a 24-hour trading volume of $8,248,862,612.

Let’s find out some more top DeFi updates.

1. Terra Dominance Grows in the DeFi space

Terra (LUNA) has been in the limelight for all the right reasons in recent times. The DeFi ecosystem has not been spared in the current bearish trend in the entire blockchain and crypto space. Amidst these bearish trends, Terra’s dominance in the DeFi space is on the rise. Interestingly, this growth is taking place while other DeFi platforms like Fantom and Solana are in free fall.

Also, the entire DeFi ecosystem TVL dropped by a whopping 12%. Terra dominance, on the other hand, grows to 15%. Ethereum dominance also stands at 59%.

2. Loopring Smart Wallet iOS update

Next, The iOS version of Loopring smart wallet went live last week. The smart wallet enables seamless pro order book trading. The launch of its iOS version indicates that Apple smartphone users will now have easy access to the Loopring smart wallet and its exciting features.

Notably, Loopring is an Ethereum (ETH) layer 2 zkRollup protocol.

3. Curve Finance Integrates Aurora Network

Top ETH stableswap and DeFi AMM platform Curve Finance is now in partnership with NEAR protocol’s EVM layer, Aurora Network. According to the announcement, the integration will facilitate interoperability for Curve users. Therefore, making it possible for them to seamlessly connect Aurora Network to their Ethereum (ETH) wallets.

This means that Curve users will enjoy the deep liquidity available on the Ethereum chain without its associated scalability issues.

4. tofuNFT Partners With Tozoku Frens

tofuNFT, the largest multichain NFT market place is now in partnership with Tozoku Frens. This means that Tozoku Frens’ 777 Tozoku NFT will now be available on tofuNFT. Tozoku Frens is also popularly known as the first NFT Omnichain DAO for Play-to-Earn (P2E).

Also, being a DAO means that major decisions on the project are debated and approved by community members.

Find the Tozoku Frens collection here

5. HectorDAO Launchpool on Beefy Finance

Interested persons can now earn amazing rewards on HectorDAO boosted pools. Last week, Hector boosted the $beFTM and Curve stable vaults providing interested persons with the opportunity to earn rewards. This is also made possible by a strategic partnership with Beefy Finance.

Notably, the boosted $TOR, $DAI, and $USDC Curve stable pool will attract a boosted reward of 1129% APY. The $beFTM pool will result in a boosted APY of 907%.

Beefy Finance is a multichain yield optimizer known for auto compounding crypto rewards and huge APYs.

6. Polygon (MATIC) Partnership With Titan Origin

Titan Origins, a Play-to-Earn (P2E) game recently entered into a strategic partnership with Polygon (MATIC). And this partnership will furthermore facilitate better awareness and adoption of the Titan Origin game.

Based on 0xPolygon, Titan origin is a P2E game. It also combines real-life fitness with NFT gains.

7. Polkadot XCM Launch

Cross-chain, parachain-to-parachain communication made possible, thanks to Polkadot’s launch of XCM. The XCM launch follows the successful passing of the community vote on the proposal.

Also, as part of the launch, XCM launch will facilitate the upgrading of Statemint. This, in turn, will make the minting of NFT assets and teleport DOT.

8. Everlend Goes Live on Solana (SOL)

The much-anticipated money maker aggregator platform Everlend is finally on Solana. And the launch last week is a major milestone achievement for the entire Solana ecosystem.

The launch closely follows series of testing and bug fixing. In fact, interested persons can now make use of the loan aggregator platform.

As a money maker aggregator platform, Everlend provides the best possible rates on loans and huge interest on deposits. This is alongside zero risk of liquidating your assets.

9. Oddz Finance Integrates Chainlink

Trustless on-chain trading platform Oddz finance is now in partnership with Chainlink. Thanks to the partnership, the trading platform will have unrestricted access to chainlink reliable and secure price feeds. Also, Chainlink price feeds will provide Oddz finance with accuracy, and security.

For now, supported price feeds include;

  • AVAX/USD
  • BTC/USD
  • ETH/USD, and
  • AAVE/USD

According to Oddz Finance, Chianlink is the go-to price feed because of its high-quality data, decentralization, secure node operators, transparency, etc.

10. Polygon | Tristan Partnership

Polygon Studios is also now in partnership with Web 3 infrastructure, Tristan. This means that Polygon Studios will provide Tristan with top-notch support as it navigates the metaverse ecosystem.

Tristan is an open-game metaverse providing its players with a unique Gamefi experience.

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 09.05.2022

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