DeFi in Polkadot Vol.6 | Feb 15th - Feb 21st

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

Polkadot Parachain Rollup Roadmap

The Polkadot team has revealed a detailed roadmap of Parachain Rollout, which is essential to complete the upcoming Polkadot launch. The roadmap consists of three stages: Rococo - Testnet Rollout, Kusama Rollout & Slot Auctions, and Polkadot Rollout & Slot Auctions.

For more details, please visit here. 

Smart money comes to Polkadot

According to Bloomberg terminal data reviewed by CoinDesk, Goldman Sachs, ICAP, JPMorgan, and UBS bought the first exchange-traded product (ETP) that to Polkadot’s DOT for their clients.

Check out the article for full detail.

Infrastructure & Parachains

Rococo Recap

There are seven parachains connected to Rococo now: Tick, Trick, Track, Kilt Protocol, Plasm Network, PolkaBTC, and Acala Network.

Clover Seed round

Clover, a foundational layer for cross-chain compatibility built on Polkadot, announced the completion of the seed round, led by Polychain Capital, Hypersphere, Bithumb Global, and Divergence Ventures.

Clover x Bella

Another update from the Clover team is its technical collaboration with Bella, a suite of open finance products. The partnership aims to build DeFi infrastructure on Polkadot.

Apron Brand Upgrade

Apron Network, a decentralized infrastructure service built on Polkadot for DApp & Defi developers and infrastructure operators, has its brand upgraded to better reflect on the project's core values.

Manta Progress Update #1

For those who are interested in Manta Network, the first layer-1, a privacy-preserving protocol for DeFi built on Substrate, you can quickly get up-to-date on its progress through the first issue of Progress Update, which covers movements of Manta from Oct 2020 to Feb 2021.

Full details. 

Moonbeam Alpha V6

Moonbeam Network, an Ethereum-compatible smart contract on a Polkadot parachain that simplifies creating multi-chain applications, announced Moonbase Alpha’s upgrade, its TestNet. The update opens the door for external collators to participate in the network. Besides, Moonbeam users will be able to actively take part in governance & staking on the TestNet.

For further info, please visit here.

Moonbeam x OnFinality

Moonbeam and OnFinality, blockchain infrastructure services focused on parachains, partnered together to build Moonbase Alpha’s first API service. With the collaboration, developers will have access to set up nodes in a cost-effective way quickly.

Read here for more info.

Interlay x Band

Interlay, the team building Polkadot’s trustless Bitcoin Bridge, PolkaBTC, has completed the integration with Band Protocol to secure the bridge through decentralized and robust Bitcoin price and fee feeds. Oracles provided by Band Protocol will be critical in maintaining a secure collateralization ratio on the bridge and overall system security.

Stablecoin

Acala x Plasm XCMP

Acala Network, the cross-chain DeFi hub and stablecoin of Polkadot and Plasm Network, a dApps hub on Polkadot that supports Ethereum, Rollups, completed the first successful cross-chain token transfer on Polkadot's parachain testnet, Rococo using cross-chain message passing (XCMP). This is a giant step for the Polkadot and Kusama Network ecosystem.

Check out their article here.

Lending

Equilibrium x Kylin

Equilibrium, an interoperable money market on Polkadot, formed a partnership with 

Kylin Network, a cross-chain platform powering the data economy on Polkadot. The partnership will help enhance the redundancy and diversity of the project’s price feed.

Check out this article for further details.

Equilibrium’s Polkadot-based token, EQ

The Equilibrium team released an article providing details about its new Polkadot-based token, EQ. Specifically, EQ functionalities will include bailouts and system liquidity, governance, liquidity farming, and paying fees.

Full details.

Synthetic Assets

Shadows Network audit progress

Shadows, a hub for issuing, trading, lending, and borrowing synthetic assets based on Substrate, revealed that its security audit - conducted by one of the leading security audit firms is nearly completed.

For those who want to learn more about Shadows Network, please visit this article.

Data & Oracle

Kylin’s Whitepaper

Kylin,  a cross-chain platform powering the data economy on Polkadot, published its Network Token Economy Whitepaper V1.0.0.

For more details, please check here.

Kylin x Polkamarkets

Kylin announced a partnership with Polkamarkets, a DeFi-Powered Prediction Market built for cross-chain information exchange and trading based on Polkadot to provide decentralized and validated data via oracles to Polkamarkets’ prediction markets.

Visit their announcement for further details.

Kylin x Bridge Mutual

This is an exciting week for Kylin with another update: its partnership with Bridge Mutual, a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Through the partnership, Kylin’s oracles will communicate with Bridge to provide the real-time price of USDT, USDC, DAI, and other stablecoins.

Full announcement. 

Paralink's Block explorer

Paralink announced its Block Explorer is going live. This network explorer is fully compatible with Polkadot blockchain and associated parachains. 

Check it in action here.

Paralink Smart Contract Audit

Paralink announced that Halborn Security audited its smart contracts. The smart contracts associated with Paralink were found to be completely safe, developed under stringent quality standards, and well documented.

Read the full report here.

Liquidity

Rai Finance x Chainlink

Rai Finance, a cross-chain swap protocol built on Polkadot, announced integrating Chainlink oracles to Price Swaps on Its Cross-Chain DEX. Rai users and developers will have access to secure and reliable price oracles when swapping assets in their upcoming AMM-based decentralized exchange.

Full announcement.

HydraDX LBP reimburse gas

Last week we witnessed a gesture of generosity from the HydraDX team as they decided to reimburse $xHDX LBP participants for the high gas fee situation. You can give them their opinion on how they should refund the fee on their discord.

Reef x Harmony x Tron

Reef Finance, The first cross-chain DeFi operating system (powered by Polkadot), partners with TRON and Harmony. With this partnership, DeFi applications in these ecosystems will be accessible to Reef users, while those applications can have Reef’s smart liquidity aggregator & AI-powered yield engine deployed on them.

For more details, please check here.

Reef x Bandot

Reef Finance announced their partnership with Bandot. This collaboration allows Reef users to access Bandot's unique features to avail increased opportunities to maximize their capital. The partnership also provides Reef users with stablecoin usage and an unsecured lending system.

Check out the announcement 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].

Read more:  DeFi in Polkadot Vol.7 | Feb 22nd - Feb 28th