DeFi in Polkadot Vol.4 | Feb 1st - Feb 7th
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 & Parachains
Rococo Recap
As of Feb 2nd, there are 8 parachain running on Rococo V1. PolkaBTC, a Bitcoin-Polkadot bridge, is the 8th member.
Plasm x Moonstake
Plasm announced a strategic partnership with Moonstake, a staking pool provider in Asia. The association may bring potential implementation of the staking of Plasm Network Token, PLM, onto Moonstake’s staking platform.
Visit this article for the full story.
KILT Protocol
KILT Protocol, an open-source blockchain protocol for issuing claim-based verifiable, revocable, and anonymous credentials for Web 3.0, has released its 2021 roadmap and how the team plans to roll out KILT Protocol from testnet to mainnet, governance, and decentralization.
You can read the full article here.
Moonbeam x Razor
Moonbeam Network, Ethereum-compatible smart contracts on a Polkadot parachain that simplifies creating multi-chain applications, partners with Razor, a decentralized oracle providing data to the smart contracts using a network of stakers.
Through this partnership, Razor Network will provide smart contracts on Moonbeam with a data feed from Ethereum, meaning that the DApps on Moonbeam can use the integrated Razor oracle.
Learn more here.
Moonbeam x MVP Workshop
Another partnership announcement from Moonbeam, which is with MVP Workshop, an R&D studio dedicated to the exploration of new technologies.
The partnership aims to support blockchain-based projects moving into the multi-chain future, with the ability to work with a team that can drive all aspects of their product lifecycle from planning to deployment.
Read the full announcement here.
Bifrost 2nd vETH Mint Drop
Bifrost, a parachain designed for staking liquidity, will start its 2nd vETH Mint Drop event with the reward of 500,000 BNC on Feb 8th.
You can learn the event’s rule here.
Crust Maxwell
Crust Network, a decentralized cloud blockchain technology on Polkadot, launched Maxwell on February 4th. Maxwell serves as the Preview Network of the Crust mainnet, which integrates all core functions of Crust, including token staking, decentralized storage market (DSM), file retrieval mechanism, and more, aiming to have the same functions as the Crust mainnet.
Darwinia Transfer Mainnet open
Darwinia, an open cross-chain bridge protocol based on Substrate, has come to the final the 4th milestone stage of Darwinia Mainnet progressive launch: Darwinia Mainnet Transfer.
Now, users will be able to freely transfer Darwinia assets between different accounts, which also marks the full operation of the core functions of the Darwinia Mainnet.
Read the details here.
Apron x TrustBase
An active week of Apron, a decentralized infrastructure service for DApp and Defi developers and infrastructure operators. Let’s start with its partnership announcement with TrustBase, a Polkadot parachain based on an independent, smart contract language subscript.
The partnership will provide more infrastructure technical support for Polkadot developers.
Apron tokenomics
The Apron team has released tokenomics and utility for its native token, APN. APN will be introduced in some scenarios such as service assurance, service usage, community governance, incentives for early participants.
Read more details here.
Stablecoin
Acala EVM
Acala Network, the cross-chain DeFi hub and stablecoin of Polkadot has recently announced its latest update, Acala EVM, which will bring compatibility to Acala, the Polkadot ecosystem, and the Ethereum ecosystem.
For more details, please visit this article.
DEX
Bancor to Polkadot
Bancor, one of the AMM sector pioneers on Ethereum, has announced the work on a cross-chain bridge to bring the project to Polkadot.
The bridge implementation allows users to create pools, provide liquidity and perform trustless cross-chain swaps on Bancor between Polkadot and ERC20 tokens.
Read all the details here.
Zenlink x Darwinia
Zenlink, a cross-chain decentralized transaction network based on Polkadot and Darwinia, a cross-chain bridge, has reached the partnership to expand the cross-chain asset transactions.
Read the full announcement here.
Manta Funding
Manta Network, a layer-1, privacy-preserving protocol for DeFi built on Substrate has closed a $1.1 million funding round. The round was led by Polychain Capital, to build MantaSwap.
Visit this article for the full story.
Polkadex’s Roadmap
Polkadex team has released the project roadmap until Q3, 2022. According to the team, we can expect the mainnet of Polkadex in Q1 - Q2, 2021.
Lending
Equilibrium Bridge
Equilibrium, a money market on Polkadot that combines pooled lending with synthetic asset generation and trading, has launched ETH bridge, which will make ETH and ERC-20 tokens fully compatible with Equilibrium’s suite of DeFi services.
Right now, the bridge runs on its testnet, where it works with the Rinkeby Testnet from the Ethereum side. The next step is to take the ETH bridge to its full-fledged mainnet.
Read the details here.
Equilibrium x RockX
Another update from Equilibrium which is its partnership with RockX, a crypto platform that lets users diversify their digital asset holdings and gain exposure to others in one unified interface, and runs a $20 million investment fund specifically for Polkadot-based projects.
RockX will support Equilibrium's EQ token to its staking platform.
Read the full announcement here.
Konomi Collateral and Liquidation Model
Konomi has released an analysis on its collateral and liquidation model.
Synthetic Assets
Stafi x Easyfi
Stafi, a DeFi protocol unlocking liquidity of staked assets, has announced the partnership with Easyfi, a Layer 2 DeFi Lending protocol for digital assets. The partnership will bring rTokens to EasyFi's lending platform.
Insurance
Tidal x Reef
Tidal Finance, a customizable smart contract cover marketplace for the Polkadot ecosystem, has announced a strategic partnership with Reef Finance, a cross-chain DeFi operating system built on Polkadot.
Tidal will provide Reef’s users with smart contract covers to promote increased user-protection.
Tidal x Knit
Another partnership announcement from Tidal this week is with Knit Finance, a DeFi protocol that aims to bridge multiple non-Ethereum chains with ERC20.
Through this collaboration, Tidal will offer a higher level of insurance coverage to Knit Finance’s product offerings. Knit Finance will also be added to the Tidal Risk pool.
Data & Oracle
Kylin x Xangle
Xangle.io partners with Kylin Network, the cross-chain platform powering the data economy on Polkadot. Xangle.io is a leading global crypto-asset disclosure platform that institutionalizes information disclosure and distribution practices in the crypto industry. The partnership will allow both of them to share various data feeds regarding on-chain and off-chain data.
The Graph to Polkadot?
Polkadot is among the ongoing additional L1 blockchains evaluation by the Graph, exploring new integrations. The Graph is blockchain agnostic, committed to uniting the Web3 ecosystem. Wherever Web3 developers go, The Graph protocol will be.
Paralink x Edgeware
Paralink, a project offering real-world data ingress for modern cross-chain applications powered by Polkadot, announced their full-support for Edgeware, a high-performance, self-upgrading WASM smart contract platform, in the Polkadot ecosystem. The partnership enables Defi, and other applications on the 1-year old smart contract platform to access Paralink nodes, supporting cross-chain asset price feeds and more.
Paralink’s investor
Paralink shared its latest investor: Kenetic Capital, a Hong Kong-based VC team investing in equity of Series A / B Blockchain Technology companies.
Check out the announcement.
SubQuery
SubQuery said hello to Web3 world. SubQuery is an open-source project that allows users to run an indexer across their chain to build a dataset queried with GraphQL. It is inspired by The Graph Protocol on Ethereum.
Liquidity
HydraDX LBP on Balancer
HydraDX, a Cross-chain liquidity protocol built on Substrate, will distribute $xHDX (Its temporary form on Ethereum for $HDX) through a Balancer Liquidity Bootstrapping pool from 8th Feb 2021. xHDX total supply is 500 000 000 tokens (5% of the 10b HDX tokens).
Reef x Akropolis
Reef Finance announced its partnership with Akropolis, a leading DeFi protocol that helps build Decentralized and autonomous community economies. The collaboration will enable Reef users to access the yield opportunities available on Akropolis’ yield farming aggregator, Delphi.
Read full details.
Reef trading contest on Binance
Binance is launching Reef Trading Competition with a total prize pool of $50,000 worth of $REEF from 2021-02-05 00:00 AM to 2021-02-11 11:59 PM (UTC).
Other
Litentry x Clover
Litentry, a decentralized identity aggregation protocol across multiple networks, featuring a Decentralized Identity (DID) indexing mechanism and a Substrate-based credit computation network, established a strategic partnership with Clover Finance, a powerful smart contract platform that enables Ethereum developers and projects to migrate their contracts onto Polkadot..
PAID x Razor
PAID Network, an ecosystem DApp that leverages blockchain technology to deliver DeFi powered SMART Agreements on Ethereum and Polkadot blockchains to make business exponentially more efficient, partners with Razor Network, allowing Razor to use PAID’s MVP to secure their business operations and maximize their decentralized oracle solution productivity.
Poolz First IDO
Poolz, a decentralized swapping protocol for cross-chain token pools and auctions, enabling projects to raise funds before listing, announced Bot Ocean as the first Initial Dex Offering (IDO) on its launchpad platform. Bot Ocean is a cryptocurrency ecosystem building the next-generation of algorithm trading tools and bot.
The IDO took place successfully on Feb 7th, and its BOTS token price peaked to 20x of the IDO price.
Poolz x Moonbeam
During last week, Poolz also integrated with Moonbeam, making it easier for developers to create native Polkadot applications that utilize Poolz’ cross-chain capabilities for token swapping.
Check out this article for more info.
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.5 | Feb 8th - Feb 14th