DeFi in Polkadot Vol.17 | May 3rd - May 9th

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].

Infrastructure & Parachain

Apron network x Clover Finance

Apron Network, a decentralized infrastructure service provider based on the Polkadot ecosystem has entered the partnership with Clover, a decentralized financial services provider based on Polkadot, offering modular Defi protocols and application tools designed to reduce duplication of effort in protocol development. 

Thanks to this collaboration, Apron Network will offer RPC node services to Clover Finance and work with Clover to provide developers with a one-stop, compliant EVM framework and decentralized node services for their Substrate-based applications as well as reducing developer development costs and barriers.

Manta Network Ambassadors Program

0n May 5th 2021, Manta Network officially opening up its ambassador program, which is an opportunity for communities to join and closely participate in the growth of Manta Network. Selected participants will become official Mantalorians, who have exclusive access to the core development team and are invited into our private team discussion channels.

Here is the list of Mantalorians the projects is looking for: 

• Community leaders,
• Community members,
• Tweeters, Redditors, and other social media users,
• Testers and developers,
• People who believe in the future of Manta Network,

Register Manta Network Ambassadors Program here. 

Phala x Patract

Phala Network, a trustless computation platform that enables massive cloud processing without sacrificing data confidentiality has announced their partnership with Patract Labs, a project that offers solutions for the development of Parachains and DApps in the Wasm smart contract ecosystem of Polkadot. 

Both projects will work together to implement Wasm confidential contracts in the Polkadot ecosystem. In addition, Phala will join the Patract Open Platform and contribute to the development of Wasm contract technology alongside dozens of other platform members.

Protofire received Chainlink Community Grant

The Chainlink Community Grant Program is an incentivized program that provides financial resources to the many development teams and researchers building a more functional, accessible, and socially impactful Chainlink Network. 

Recently, Protofire, a development workshop for decentralized protocols, has been selected as a recipient of a community grant to perform a native integration of Chainlink into the Polkadot-based smart contract platform Plasm and Plasm’s Kusama implementation Shiden.  

Plasm x Microsoft

Plasm Network, a DApps hub on Polkadot that supports Ethereum and layer 2 solutions like ZK Rollups with an aim to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines like EVM and WASM recently announced that one of their core companies: Stake Technologies would be accepted to Microsoft for Startups program - a global program dedicated to helping startups successfully scale their products operated by Microsoft.

Both parties will join forth to start Shiden Azure Program by using Microsoft Azure when Shiden becomes a Kusama Parachain. PLasm will find a way to promote blockchain technologies in the Plasm Network ecosystem, scaling them beyond the limited crypto space.  

Kilt x DeBio

6 May 2021, Singapore and Berlin, KILT, an open-source blockchain protocol for issuing claim-based verifiable, revocable, and anonymous credentials for Web 3.0 has expanded their strategic partnership with DeBio, an anonymous-first, decentralized platform for medical and bioinformatics data to incorporate KILT Credentials into Debio’s anonymous-first platform for medical and bioinformatics data.

Moonbeam x Polkassembly

Moonbeam, an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications officially announced an integration with Polkassembly, an open-source platform for anyone to discover and participate in Substrate-based chain governance. Both projects will work together to provides Moonbeam users with a user-friendly interface for viewing and tracking ongoing on-chain governance proposals. 

More specifically,  this integration will allow Moonbeam users to browse proposals made on-chain, discuss them with the community, and vote directly from the Polkassembly website using a browser extension.

Moonbeam x Razor

Razor Network, a decentralized Oracle network, which provides secure and reliable real-world data feeds for various blockchain-based applications and services, such as Decentralized Finance, Identity, Insurance, Prediction Markets, and so on has come across a significant leap in their Decentralized Oracle ecosystem. 

And recently, they have integrated with  Moonbeam with an aim to provide smart contracts on Moonbeam with a trusted and uninterrupted feed from the Ethereum Testnet.

Moonbeam x Livetree

Livetree  - the world’s first blockchain-based crowdfunding social network dedicated to data rights management & licensing for film, TV & video content headquartered in London, UK has announced their integration with Moonbeam. 

The full integration will involve importing all of Livetree’s Ethereum based crowdfund and data governance smart contracts to Moonbeam as well as creating a bridge from Ethereum MainNet with an aim to solve Ethereum’s restrictive gas prices. 

Stablecoin

Acala received the fifth Web3 Foundation Grant for xTokens

Acala, the decentralized financial hub and stablecoin of Polkadot that makes it fast and easy to use or build financial applications, improving trading efficiency and saving time has become the next recipient to receive Fifth Web3 Foundation Grant for ‘xTokens,’ pallet which brings cross-consensus messages (XCM) ability for fungible assets to all parachains in the Polkadot and Kusama ecosystems (Wave 9 Grants).

Lending - Borrowing

Equilibrium PLO Phase 1 ended

A parachain lease offering (PLO) is used by Equilibrium - The 1st interoperable money market on Polkadot comprised of a lending platform and a professional-grade cross-chain DEX to secure its Polkadot parachain slot. 

This PLO called at least 1 million DOT, which is worth around $34 million. These fresh funds will go toward securing a Polkadot parachain slot, and our community voted for a 24-month parachain lease period.

Once the parachain auctions start, these trusted parties will submit the bid for our parachain by transferring DOT to the decentralized crowdloan module on the Polkadot relay chain.

Equilibrium x Idavoll Network

Equilibrium -The 1st interoperable money market on Polkadot comprised of a lending platform and a professional-grade cross-chain DEX has announced their collaboration with  Idavoll Network on their Twitter. 

Konomi's parachain registration on Rococo

Konomi, a decentralized money market protocol built using Polkadot’s Substrate has registered a parachain on Rococo V1 - a testnet designed to specifically test parachains and their functionality.

This decision will allow Konomi to play the role of an early adopter, giving it an edge over the other projects.

Aggregator

Zenlink x SakeSwap & Bondly

Zenlink, a new generation cross-chain DEX network reaches a strategic partnership with SakeSwap.finance, a profitable DEX build on Ethereum and Binance Smart Chain (BSC) with Slippage Capture and ILO crowdfunding features, and Bondly, an interoperable, transparent, and portable token exchange protocol designed to revolutionize traditional cryptocurrency custody and give everyone access to their own digital assets trading market\ for the genesis release of Zenlink NFT on Binance Smart Chain (BSC). 

Zenlink will complete the genesis release of Zenlink NFT partly (generated during our first public test ) on SakeSwap, and partly on Bondly.

Synthetic Assets

StaFi x WrapFi

StaFi, the first DeFi protocol unlocking liquidity of staked assets has teamed up with WrapFi, the first specialized DEX for Interest-Bearing Tokens(IBTs) powered by TMM algorithm o make their networks and assets more fully compatible with each other. The two  scenarios will be unlocked: 

• Joint Exploration in IBT DEX,
• rTokens Integration in WrapFi.

StaFi rATOM introduction 

On May 6th, Stafi -  has announced the appearance of rATOM - The first staking derivative of Cosmos Blockchain. 

This strategy will boost the development of Stafi to more blockchains.

Insurance

Tidal Monthly review

The report was officially published on Medium and shows a review of all activities and developments of Tidal in April. Here are some highlights: 

• Tidal Finance Launches
  • Tidal Finance Launched its Testnet Program with a $10,000 reward pool from 19 April to 8 May 2021
  • Tidal Testnet LIVE. Tidal selected 500 Tidal supporters to be the first ones to test Tidal.
• Tidal Tech Series — Capital Leverage.
• Tidal-Uniswap Liquidity Rewards Program.
• Tidal Finance Receives a Significant Grant from Polygon through their developer support program, strengthening the alliance to make DeFi safer and accessible to all.
• Tidal has formed partnerships with Xend Finance, Chain Guardians, HOPR, Oasis Network, Polkalokr, DAFI, APYSwap.

Check out the full report here. 

Oracle & Data

Kylin x Torum

Kylin Network, a cross-chain platform powering the data economy on Polkadot, has worked together with Torum, a revolutionary, NFT-infused social media platform designed to connect worldwide cryptocurrency users. 

With this strategic partnership, they will: 

• Allow the Torum community access to instant and accurate real-time price feed and other data oracle-related services in Torum NFT Marketplace and Torum Finance found on multiple blockchains as Kylin Network.
• Provide public data, such as a number of users, favorite coins choice, portfolio composition, etc to Kylin Network.
• The data channeled to Kylin network will be provided at the permission of the community.

Kylin x Matrixswap

Kylin Network has continued to expand its partnership with Matrixswap, a decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot and Cardano blockchain. 

As a part of this partnership, both parties will join hands to: 

• Provides an opportunity to access multiple, real-time sources of information with complementary data from off-chain workers,
• Allows for more transparency and precise data feeds for Matrixswap’s Virtual AMM futures market,
• Foster more innovations and improve user experience.

Kylin x Pokarare

Kylin Network has formed partnerships with a new DeData ecosystem partner: Polkarare - a web3 economy that allows any user or a brand to create, trade, and discover NFTs. By leveraging NFT’s provable scarcity, transferability, and unique product offerings, with an aim to unlock their maximum potential. Through this collaboration: 

• PolkaRare integrates oracles from Kylin Network for provably fair minting & exchange rates in its NFT platform,
• Kylin Network is allowed to provide a conduit to people’s uploaded info, sending them through various Off-chain and on-chain data operationalization and monetization journeys,
• PolkaRare will also have a data feed on PRARE pNFTS (people NFTs) via Kylin Network.

Paralink IDO

On May 8th, Paralink Network - a multi-chain oracle platform for DeFi and other blockchain applications built on Polkadot has officially announced their  Public Sale with a trusted IDO platform. 

Paralink x Genesis Shards

Paralink Network - a multi-chain oracle platform for DeFi and other blockchain applications has teamed up with Genesis Shards, a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens to ensure Genesis Shards platform acquires secure and reliable price feeds, and help import real-world data from official and 3rd party sources.

Paralink will also become a strategic partner of the Genesis Shards and forge relationships with early-stage DeFi projects in the GS ecosystem. 

Liquidity Pool

ReefStarter Introduction

Reef Chain, the first cross-chain DeFi operating system built on Polkadot has introduced ReefStarter - an IDO platform focussed on DeFi applications and projects to carry forward the same vision of making DeFi easily accessible to everyone.

ReefStarter will support cross-chain token pools and auctions for other Substrate projects, including the entire Polkadot ecosystem to raise capital in a completely decentralized and interoperable environment.  

Since Reef Chain is EVM compatible, ReefStarter will also be able to source liquidity from the Ethereum network

ReefChain Developer Support Program

To support the burgeoning Polkadot ecosystem and to support DApp developers looking to access our multichain future, Reef Chain introduced Reef Chain Developer Support Program, with an aim to provide unparalleled guidance and mentorship to those teams and entrepreneurs currently building on Polkadot Network and EVM-compatible blockchains.

This program aims to provide support to companies through their development cycle as well as what it takes to build a successful company under many forms: Partnerships, Marketing and PR, Advisory, Grants, Investor Access, Tokenomics, IDOs and Exchange.

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].