DeFi in Polkadot No.1 | Jan 11th - Jan 17th
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DeFi in Polkadot series is published weekly, which combines observations of Coin98 Ventures on the Polkadot ecosystem's decentralized finance-related projects.
For projects wanting to be featured in DeFi in Polkadot or having any suggestions, please chat with us at [email protected].
General
DOT #3 in Market Cap
$DOT officially surpassed Ripple's XRP to take the #3 rank in market cap (excluding stablecoins). DOT's price has seen a growth of nearly 200% over the past seven days.
Web3 Foundation Grants Program Reaches 200 Projects Milestone
Web3 Foundation is building an internet where users control their data, identity, and destiny. Its primary projects are Polkadot and Kusama.
Web3 Foundation has recently announced that the number of funded projects has reached 200, double the number reported six months ago. All the funded projects are open source, particularly related to Polkadot. Web3 Foundation grants program started in December 2018, and up to now, 69/200 teams have completed their projects.
Read the details here.
OKEx & Polkadot/Kusama Parachain Slots Auction, Polkadot Ecosystem Carnival
OKEx has announced support for Polkadot's Parachain Slots Auction for both Polkadot and Kusama. Users can vote for the Polkadot ecosystem projects they support by participating in the Parachain Slots Auction through OKEx.
Meanwhile, OKEx has held the "Polkadot Eco Carnival” to distribute 100,000 USDT to participants. Promotion Period: Jan 13th - Jan 30th.
Polkadot Decoded 2021
Polkadot Decoded is a virtual conference on all things on Polkadot, which will be back for the second edition on May 20th, 2021. Polkadot builders and community members can submit their ideas for a presentation or workshop by February 28th, 2021.
Infrastructure & Parachains
Rococo V1 open for registration
Rococo is a public testnet, maintained by Parity Technologies and the Polkadot developer community to test both the parachains consensus process itself and parachains built by the community and their interactions with each other.
The Rococo-V1 Parachains Testnet is up and running, opens for registrations from Jan 11th.
Plasm Network and Acala Network are the first two projects deployed parachains on Rococo V1 (after Tick/Trick/Track test parachains).
There are now 14 parachain candidates who have submitted their proposals to connect to the Rococo relay chain (not including Plasm and Acala, which have already joined).
A block exploration of Rococo is now provided by Subscan: https://rococo.subscan.io
ChainX x PlatON
ChainX, the Layer-2 network of Bitcoin, based on substrate technology aiming to become a secondary relay chain on Polkadot Network, will cooperate with PlatON, an infrastructure for privacy-preserving computation and distributed economies, on the cross-chain of Kusama x Alaya and Polkadot x PlatON. Maybe more details to come in the future.
SherpaX of ChainX to launch soon
SherpaX is an independent research and development network where theoretical experiments and applicable practices integrate with each other and function as a guide to ChainX. SherpaX to ChainX is the same as Kusama to Polkadot. SherpaX will soon release the testnet to bootstrap the parachain auction of Kusama.
Crust’s 2020 Year in Review
Crust, a decentralized storage network of the Web3 ecosystem, has released its “2020 Year in Review” report. The report shows some milestones of the project in 2020, from reaching 1000 nodes on incentivized testnet to completion of a majority of mainnet functions and more. In 2021, Crust will launch the second phase of testnet and launch on Kusama and Polkadot.
Read the full report here.
Moonbeam implemented ChainBridge
Moonbeam Network, Ethereum-compatible smart contracts on a Polkadot parachain, has implemented ChainBridge, a modular multi-directional blockchain bridge built by ChainSafe. The ChainBridge implementation will connect Moonbase Alpha TestNet and Ethereum's Kovan TestNet.
Moonbeam’s tokens - Glimmer and River
Moonriver is Moonbeam’s Kusama deployment and has its utility token called River (RIVER).
The primary deployment of Moonbeam will be on the Polkadot network, with an associated token called Glimmer (GLMR).
Moonbeam x Sushi
SushiSwap, a community-led AMM part of the Yearn ecosystem, released its plan for 2021, in which Moonbeam will play some roles in SushiSwap’s Polkadot's version?
- Moonbeam to enable SushiSwap’s cross-chain AMM
- Polkadot/Moonbeam may have a live testing version of SushiSwap Q2 on Kusama
Lending
Equilibrium x Ryabina
Equilibrium, a money market on Polkadot that combines pooled lending with synthetic asset generation and trading, has partnered with Ryabina, a validator, indexer, and oracle for several networks, namely Polkadot Kusama, Celo, The Graph, and more.
Ryabina will build a Telegram chatbot that runs on Equilibrium’s network, which will serve as a text-based interface to interact with Equilibrium.
DEX
Advanced Blockchain AG’s Investment in the Manta Network
Manta Network is a layer-1, privacy-preserving decentralized protocol for DeFi built on Substrate. The Manta team has recently announced an investment received from Advanced Blockchain AG - the first blockchain company listed on the Xetra (Frankfurt) Stock Exchange.
Advanced Blockchain AG's investment in the Manta Network adds to the organization's other Polkadot-related project investments.
Zenlink x Phala Network - DEX × Privacy
Zenlink, a cross-chain DEX protocol based on Polkadot and Phala Network - a privacy computing Parachain on Polkadot has recently announced their strategic partnership.
They will foster cross-chain transactions between different parachains together and explore more possibilities to cooperate.
Zenlink DEX might become more competitive by providing privacy in cross-chain transactions. After Phala Network’s successful connection to Rococo V1, Zenlink DEX Module will be integrated into Phala Network to test the privacy cross-chain transactions between parachains.
Synthetic Assets
Stafi audit stats
Stafi is a DeFi protocol unlocking liquidity of staked assets. Users can stake PoS tokens through StaFi and receive rTokens in return, which are available for trading while still earning staking rewards.
Stafi has got the audit reports from Peckshield and fixed found bugs to prepare for the launch of rProducts.
Insurance
Tidal x Edgware
Tidal, a customizable smart contract cover marketplace for the Polkadot ecosystem, has announced its partnership with Edgware, a self-upgrading smart contract platform in the Polkadot ecosystem.
TIDAL model will be utilized by Edgeware to manage risk for the platform. Tidal will provide insurance for Edgeware’s users and help Edgeware’s insurance fund earn yield.
Data & Oracle
Robonomics x Ocean
Robonomics, a tool that allows developers and engineers to connect IoT & all ROS compatible devices to the digital economy, announced its partnership with OCEAN, a protocol that enables the monetizing of any kind of data.
The integration aims to create a sandbox for testing the collaboration of both technologies for further development of pilot projects and products in 2021.
Kylin x Spider DAO
Spider DAO, a hardware-enabled DAO that bundles multi-layered hardware and software tools on top of the Polkadot, has announced its partnership with Kylin, a cross-chain platform powering the data economy on Polkadot.
Kylin will provide standard oracle solutions to SpiderDAO in addition to using analytics solutions to monitor SpiderDAO sales and affiliation performance through its decentralized data infrastructure.
Paralink was invested by NGC Venture, AU21 Capital
Paralink, a cross-chain interoperable and scalable oracle platform, has been invested by NGC Venture and AU21 Capital. Both VCs are impressed by Paralink's team and their dedication to the project. The specific investment amount was not disclosed.
NFT
Exeedme x Matic
Exeedme, a platform powered by NFTs, DeFi, and built on Polkadot, has announced its partnership with Matic Network, a layer-2 solution for Ethereum's scalability.
By collaborating with Matic’s Layer 2 platform, Exeedme Beta’s Progression Rewards in NFTs will have a more seamless transactional experience. Matic may explore a dedicated gaming community within Exeedme for $MATIC token holders and stakers.
Other
Poolz x ChainLink
Poolz, a cross-chain swap, and auction protocol, integrated Chainlink’s VRF (Verifiable Random Function) on its mainnet to whitelist investors participating in pre-listing liquidity auctions.
With the integration, Poolz can automate the participant selection in a fair, unbiased, and truly random manner.
DeFi in Polkadot is created for information providing purposes, not including investment advice.
For projects wanting to be featured in DeFi in Polkadot or having any suggestions, please chat with us at [email protected].
Read more: DeFi in Polkadot No.2 | Jan 18th - Jan 24th