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The DeFi space is arguably one of the most sought-after spheres of the blockchain and cryptocurrency space. Moreover, in recent times, we have recorded an unprecedented increase in global DeFi TVL and use cases.
Therefore, to keep our readers informed, we have compiled ten important DeFi Updates from last week.
1. Cryption Network Receives Grant From Harmony Protocol
Last week, the DeFi platform Cryption network received a USD 50,000 grant from Harmony protocol. According to reports, the grant will help facilitate the upcoming integration. Also, Cryption will provide Harmony ONE with cross-chain staking and PolyDEX.
📢Good news rolling!📰
🥳We are excited to announce that we have been granted a $50,000 funding grant from @harmonyprotocol
Check out our blog :https://t.co/He4ODcUwTh
Stay updated! ✌️#CryptocurrencyNews #CryptoNews pic.twitter.com/J4UN3GRmhR
— Cryption Network (@CryptionNetwork) November 9, 2021
2. NFTrade Obtains Grant From Solana
NFTrade has obtained a grant from Solana. Therefore, the grant will help NFTrade to continue to contribute to the Solana NFT ecosystem positively.
We are excited to announce that NFTrade has received a @Solana grant to continue developing the growing Solana #NFT ecosystem!
We will fully integrate Solana into NFTrade, allowing for easy creating, buying, selling, swapping, and farming of Solana NFTs.https://t.co/jWiQiBgxmG
— NFTrade (@NFTradeOfficial) November 9, 2021
3. Solv. Protocol Partners With OpenSwap
Solv. Protocol recently entered a strategic partnership with decentralized exchange OpenSwap. In addition, OpenSwap DEX is well-known as a hub for Binance Smart Chain (BSC) products. Therefore, OpenSwap will also help issue vouchers on the Solv platform.
We’re excited to partner with @openswapdex , a Defi Hub of products on Binance Smart Chain $BSC.
For more details about their voucher, staking rewards, etc. read below! https://t.co/LEMC91SqGz pic.twitter.com/19dupMVdX8
— Solv Protocol (@SolvProtocol) November 11, 2021
4. MaticVerse Integrates Chainlink VRF
MaticVerse has enlisted the support of the popular DeFi oracle platform Chainlink and its VRF feature. According to the annoucement, the gaming platform will use Chainlink VRF for its Avengers-themed play-to-earn game. Therefore, Chainlink VRF will provide the players with reliable and trustless randomness.
For its Avengers-themed play-to-earn game The Baby Vengers, @MaticVerse needs a fair source of randomness that any player can verify.
See why the MaticVerse team chose #Chainlink VRF to help secure their #BSC-based battle system👇https://t.co/pB3KNF1wm6
— Chainlink – Official Channel (@chainlink) November 11, 2021
5. SecretSwap Supernova Upgrade Now live
Last week, Secret Network’s SuperSwap Supernova upgrade was officially completed. Therefore, thanks to the recently completed upgrade, gas fees on Secret Network will be at least 80% lower.
🚨 Attention! 🚨
The Supernova Upgrade has been completed successfully! Gas fees will now be 80% LOWER on @SecretNetwork! A huge thanks to all the validators and developers who made this possible. ♥️
This is setting the stage for all the huge things to come! Stay tuned!
— SecretSwap 𝕊 🤫 (@secret_swap) November 11, 2021
6. tofuNFT Partners With CrossPunks
Popular NFT marketplace, tofuNFT, partnered with CrossPunks last week. As a result, thanks to the partnership, CrossPunks will enjoy the myriad of unique features on the tofuNFT marketplace.
🎉We now have partnered with @crosspunks
and their CrossPunks #NFT fully supported with attributes filtering on our marketplace.👇Check them here: https://t.co/u1CDQfjlEt pic.twitter.com/t3gkjX3X0K
— tofuNFT, formerly SCV.finance (@scv_finance) November 12, 2021
7. Kyber Network Introduces a New Feature
Now, interested persons can add liquidity on Kyber DMM with ease. According to the annoucement, users can easily add liquidity in pools using either token or in pairs. They, in turn, will receive LP tokens as a reward.
🆕️KyberDMM #DEX feature!
Single Token DepositsYou can now easily add liquidity into pools using either token in the pair, all in one seamless transaction!
📚Learn more: https://t.co/5z1iN50b6z
➡️Try it: https://t.co/EQdPYXRR8m#DeFi $KNC pic.twitter.com/ggx9DOkgNp
— Kyber Network (@KyberNetwork) November 11, 2021
8. RampDeFi Partners With PIDAO Finance
Last week, RampDeFi entered into a strategic partnership with a decentralized reserve currency protocol based on the PID token, PIDAO Finance.
Also, the $PID token is backed by several leading cryptos, namely; BUSD, USDT, and USDC. Therefore, thanks to the partnership, PIDAO users will bond reserve currency tokens while earning PID tokens at a discount.
🚨 Excited to announce our latest collaboration with @PIDAOFinance, a decentralized reserve currency protocol based on the PID token backed by a basket of assets in the PIDAO treasury.
Learn more: https://t.co/IhRKSCRxYf#rampdefi #DeFi #BinanceSmartChain #Polygon $RAMP $rUSD
— RAMP DEFI (@RampDefi) November 9, 2021
9. COTI Network Launch Project Catalyst
On the other hand, last week, COTI Network announced the launch of a native fund dubbed Project Catalyst. Therefore, the launch will help fuel innovation, growth, and development in the Cardano ecosystem.
COTI is the first to launch a Catalyst Native fund!
In this endeavor, COTI gains access to a veritable trove of ideas and to a community that can scale up our development and marketing resources.
Read more: https://t.co/pFkDwokeV9$COTI @CardanoStiftung @InputOutputHK pic.twitter.com/hsG9lyKdwu
— COTI (@COTInetwork) November 10, 2021
10. Polygon and SX Network to Launch SDK Blockchain
Finally, last week, Polygon Network announced a partnership with SX Network. Both platforms also announced plans to launch the first-ever Polygon SDK blockchain.
🤩 @SX_Network & Polygon will be launching the first-ever Polygon SDK blockchain called SX Network
🚀 SportX is the #1 prediction market dapp by betting volume across all chains. They are coming together with Polygon to run a Bet Mining 3.0 Campaign.
🌐: https://t.co/JoLGP3E9aW pic.twitter.com/fZLfIHYzWn
— Polygon | $MATIC – We're hiring! (@0xPolygon) November 12, 2021
Moreover, we hope you’ve enjoyed the latest Top DeFi Updates