DeFi in Polkadot No.2 | Jan 18th - Jan 24th
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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
Celer supports Polkadot
Celer, a layer-2 scaling platform running a state channel network on the Ethereum mainnet for one and a half years, has recently announced the release of the state channel substrate modules as a layer-2 scaling solution to Polkadot.
These modules can be used to start a new parachain to host and operate state channels. Other substrates can also import these modules to become compatible to send conditional payments and resolve off-chain state transition dependencies.
11 newly funded projects in Web3 Foundation’s Grants Program
In Wave 9 - First Quarter 2021, Web3 Foundation has funded 11 projects, in which Zenlink received grants for the third time. Funded projects come from different sectors such as DEX, NFT, wallet, data, and infrastructure.
Rotki natively supports Kusama
Rotki, an open-source portfolio tracking, analytics, and crypto accounting app, has released its new version, v1.12.2, with native support for Kusama:
- Users can input their KSM addresses for tracking.
- Their accounts and balances will be queried and shown with the rest of the blockchain accounts.
- Kusama total will also appear in the dashboard.
LD Capital’s $10M Polkadot Ecosystem Fund
LD Capital, an investment firm based in China, has established a $10M Polkadot Ecosystem Fund to provide capital, development advisory, and marketing to projects built in the Polkadot ecosystem.
Polkadot Defi Alliance’s “Why Polkadot" event
Polkadot Defi Alliance will host an online event that discusses building Defi protocols and applications on Jan 28th. The event will feature leading projects building DeFi in the Polkadot ecosystem like Moonbeam, Reef Finance, and Equilibrium.
New to Polkadot? An excellent thread for Polkadot beginners
PAKA Fund Phase 1
PAKA is a DAO fund jointly established by the founders of Stafi, Phala, Bifrost, Crust, and Litentry, focusing on hatching and investing projects in the Polkadot ecosystem.
Paka Fund Phase 1 has concluded a $1M investment. Phase 2 will be set up with a scale of $5M.
Learn more: DeFi in Polkadot No.1 | Jan 11th - Jan 17th
Infrastructure & Parachains
Plasm’s ZK Rollups deployment
Plasm, an Ethereum compatible Smart Contract Platform on Polkadot, has successfully deployed the ZK Rollups contract on Plasm Network, which finished the first step of receiving a Web3 Foundation grant to implement ZK Rollups. ZK Rollups are the layer-2 solutions initially from Ethereum.
Upgrade of Moonbeam's TestNet
Moonbeam Network, Ethereum-compatible smart contracts on a Polkadot parachain that makes it easy to create multi-chain applications, has upgraded Moonbase Alpha, its testnet. The upgraded version introduces major infrastructure updates, staking features, and opening the door for collators that actively produce blocks on the network.
Clover CC-1 Testnet launching
Clover, a substrate-based Polkadot parachain, has launched its testnet for developers and professional validators.
Stablecoin
Acala & Karura event about Parachain Auction Process
On January 22nd, the first Acala and Karura Crowcast was organized to explain about Acala, Karura, Parachain Auction and process, and the timeline for Karura's Parachain Auction.
You can watch the recorded video here.
Lending
Equilibrium PLO
Equilibrium, a money market on Polkadot that combines pooled lending with synthetic asset generation and trading, is holding a Parachain Lease Offering (PLO). Equilibrium’s PLO is a two-phase fundraising mechanism like a launchpad: phase 1 will be a token swap, phase 2 will be the crowdloan (the auctions on Polkadot).
Now you can register for the whitelist and get bonuses. Early birds will get a 1% bonus in EQ on their contributions to the PLO.
Synthetic Assets
Stafi’s mainnet v0.4.0 - $rFIS & 2-way rBridge, Staking Drop
Stafi, a DeFi protocol unlocking liquidity of staked assets, has released mainnet v0.4.0. Significant updates include the rFIS function and 2-way bridge after completing community testing and PeckShield security audit.
From January 22 to January 30, stalkers who participate in FIS staking by using the rFIS product could have the chance to receive the StakingDrop reward.
Insurance
Tidal x Bandot
Tidal, a customizable smart contract cover marketplace for the Polkadot ecosystem, has announced its partnership with Bandot, a stable coin credit system with cross-chain smart token swaps, unsecured credit, and a liquidity pool.
Tidal will provide decentralized insurance service to Bandot’s pledge fund pool and liquidity mining, offering Bandot users to get covered in case of smart contract exploit.
Bandot will also become an option for Tidal capital providers to earn additional returns.
Tidal x Stake Capital
Another partnership announcement from Tidal, which is with Stake Capital, a platform leveraging the entire DeFi ecosystem to provide access to investment strategies.
Tidal will provide insurance cover for Stake’s users’ assets and help StakeDAO’s insurance fund earn yield.
Data & Oracle
Kylin x Bondly
Kylin, a cross-chain platform powering the data economy on Polkadot, has announced the strategic partnership with Bondly, an interoperable, transparent, and portable swap protocol designed to bring DeFi to the masses by bridging the gap between decentralized escrow payments and traditional marketplaces.
Kylin will complement the oracle needs for Bondly’s products, which are BondSwap and BondProtect.
The partnership will also include some initiatives regarding NFT through Bondly’s NFT-based card game, BCCG.
Paralink received investment from Genesis Block Ventures
Paralink, a cross-chain interoperable and scalable oracle platform, has been invested by Genesis Block Ventures, an investment firm based in Hong Kong. The firm decided to invest in the project as Paralink is a confluence of two upcoming areas in blockchain - Oracles and interoperability (via Polkadot).
$PARA of Paralink
Paralink has also updated $PARA tokenomics, in which there are some changes in the allocation of Nominator Rewards (9% -> 20%), Validator Rewards (25% -> 20%), Ecosystem (12% -> 10%) and Reserve (22.14% -> 18.14%) baskets.
Liquidity
HydraDX’s roadmap, token distribution, LBP
HydraDX has released its current roadmap, specifies token distribution, liquidity bootstrapping pool, and next developing steps:
- Rococo Testnet [Hydrate]
- ERC-20 xHDX LBP
- Stakenet (xHDX → HDX)
- Incentivized Testnet
- Interchain Incentivized Testnet
- Kusama “Chaosnet” [Basilisk]
- Mainnet Launch
$HDX allocation will be 5% LBP on Balancer, 5% Stakenet & Incentivized Testnet rewards, 15% founding team & investors (locked, stake-able) and 75% liquidity mining & staking rewards.
Read the details here.
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].
Learn more: DeFi in Polkadot Vol.3 | Jan 25th - Jan 31st