DeF, known as "decentralized finance," has been invading the world of cryptocurrency recently. The system makes it easier for financial products to be more open to a public network of blockchain.
The DeFi space has been awakened by the recent updates that happened in the second week of August.
Here are the top 10 DeFi updates that you should know from several DeFi partnerships to the new bonus rewards system to know more about them.
Top 10 Most Interesting DeFi Updates (August 2nd Week)
10. Wanaka Farm Live in TOMO
Wanaka users can now enjoy the extensive NFT games thanks to the platform's partnership with TomoChain or TOMO. The blockchain games will be much more exciting through TOMO's features that would satisfy the investors.
9. Harvest Finance FARM Tokens to Binance
According to a report by Altcoin Buzz on Sunday, Aug. 22, the DeFi community is excited to know that the tokens from Harvest Finance FARM are now available in the Binance chain.
BNB, BTC, BUSD, and USDT are considered as the trading pairs of the DeFi space platform.
8. Dolphin Finance Merge With Chainlink
Incorporating with Chainlink is a good move for Dolphin Finance in terms of providing trusted price trends.
The DeFi market will be guaranteed to be safer with Dolphin since users will have an easier time using its features for borrowing and lending.
7. Polkadot Now on SWFT Blockchain
The latest DeFi update shows that Polkadot can be much better by incorporating it into the SWFT Allchain. The said platform is currently supporting more than 300 cryptos like BSC and ETH.
6. BitDAO x SushiSwap
DeFi has borne many partnerships, including the recent merge of SushiSwap and BitDAO. This will allow more BIT tokens to be listed in MISO.
The blockchain world will be more enticing for the investors since BitDAO is also known to fully back up several cryptocurrency firms like ByBit, Pantera, Dragonfly, and more.
5. Fantom FDN x Shield Protocol
Another notable partnership that was staged in DeFi space was the collaboration of Shield Protocol and Fantom FDN. The strategic team-up gave rise to the 2FA security in the Fantom Opera Chain.
Soon, the Fantom Opera will be available for the Shield wallet.
4. Fantom x Graviton
The DeFi network also paved the way for the participation of Graviton in the Fantom environment. Expect to see more innovations in the DeFi platform in the following updates.
Besides the strategic partnership that the two platforms established, there would also be a set of rewards featuring the Fantom tokens through Graviton.
3. Biswap DEX x Bella Protocol
The DeFi venture between Biswap DEX and Bella Protocol will deliver a new wave of partnership. Known for its three-type referral structure, Biswap became the first DEX system in the BSC platform to have such a feature.
Furthermore, the DEX ecosystem is also popular due to its low fees on the platform.
2. StakeDAO's Latest Bonus Rewards System
With multiple partnerships that covered the DeFi space, StakeDAO seems to be different from them. The platform has just released a bonus reward system that would also feature NFT staking.
Now, the regular NFT stakers of StakeDAO will have a chance to enjoy the weekly rewards after the platform hits a total value worth $200 million.
1. SushiSwap Welcomes Coin98
SushiSWap enthusiasts are now allowed to swap ETH tokens in exchange for Coin98 (C98) tokens. They could also do it inversely with the AMM DEX platform.
With the official arrival of Coin98 in SushiSwap, the users can now expand more options in trading.
On top of these changes, DeFi users should always be wary of the scammers on the platform. To avoid falling into fake tokens, you should know the identity of the company behind them.
You should also be aware of the various DeFi scams such as rug pull scams, exit scams, and more.
This article is owned by Tech Times
Written by Joseph Henry