Tag Archives: DeFi News

cBridge – the multi-chain network that’s designed to enable value transfers into Ethereum and its layer-two scaling solutions, has surpassed $1 billion in terms of total cross-chain transaction volume and assets bridged. According to a press release shared with CryptoPotato, Celer Network’s cBridge has achieved a considerable milestone, surpassing $1 billion in total cross-chain and transaction volume and assets bridged. This comes only four months after cBridge was...

Acala, an Ethereum-compatible DeFi protocol for scaling DApps, has secured the first slot on the much anticipated Polkadot’s parachain auctions.  Acala, a decentralized Layer-1 smart contract platform, recently won the first slot on the parachain auction on Polkadot with a total of 32,515,989 DOT ($1,250,895,296) locked from over 81,000 community members. The funds will be used for a myriad of cases. The first features include launching a stablecoin on the Polkadot network...

DeFi trading platform Injective Protocol is launching its mainnet after rolling out a $120 million incentive program for traders, market makers, and DeFi projects, the protocol announced this Tuesday. First DeFi Cross-Chain Derivatives Markets As per the press release, Injective Protocol is set to launch the world’s first DeFi derivatives markets using the IBC Oracle, the popular Cosmos-based third-party service that will provide access to external, off-chain data. For now,...

ING – the Dutch multinational banking corporation – has begun collaborating with the Netherlands’ financial authority on utilizing decentralized finance. The Bank’s Defi Project Annerie Vreugdenhil – ING’s Chief Innovation Officer – said as much at the Singapore Fintech Festival earlier today. Speaking in a panel discussion, the CIO complimented Singapore’s welcoming regulatory environment. As reported last week, the Monetary Authority of Singapore has no plans on banning...

SushiSwap, the popular decentralized exchange that saw the light of day last year, will enter the non-fungible token and metaverse spaces. It will do so by releasing a platform aiming to combine the best from both worlds and the initial v0 campaign will go on for ten weeks. Shoyu Comes to Life The press release shared with CryptoPotato informed that the name of the new initiative is Shoyu and the official launch date is November 3rd. This comes just five months after the...

Minima, a scalable and decentralized blockchain network for value and information transfer, has recently bagged $6.5 million from notable investors in a Series A funding round. Accelerating Mainnet Launch According to a press release shared with CryptoPotato, the funds acquired from the just-concluded funding round will be used to facilitate the launch of Minima’s Mainnet in 2022.  Minima’s system is designed to seamlessly fit on a mobile or IoT device, allowing every user to...

South Korea-based blockchain-focused investment firm Hashed has announced the launch of its new startup studio to support and research new use cases of blockchain technology in the rapidly growing NFT space. Exploring the Full Potential of Blockchain In a press release today, Hashed noted that the studio, named UNOPND, will foster various creative projects with the primary goal of exploring and experimenting with new ways to apply blockchain technology to the online gaming...

In today’s DeFi and NFT daily bits, we take a look at some of the interesting developments in the industry over the past couple of days. PolkaStarter Unveils Startup Incubator: Names Maiden Project PolkaStarter, the decentralized launchpad platform, has announced the very first project to be incubated by its newest investment arm – Polkastarter Labs. The project in question is called WonerHero – a play-to-earn mobile RPG game. It will receive pre-IDO and post-IDO support, as...

Raiinmaker, a blockchain-based fan engagement platform, has recently partnered with the multimedia firm Cosmic Wire to roll out six special non-fungible tokens (NFTs) to support several climate charities. According to a press release shared with CryptoPotato today, both firms will be launching the NFT collection based on the artwork of the mysterious legendary street artist Banksy. Supporting Climate Charities The digital arts will represent the iconic remnants of Banksy’s...

The Quantum-resistant blockchain platform – QAN – will launch its cloud deployment service, via which developers can reach platforms like Amazon AWS and Microsoft Azure. The new option will be available from the end of 2021. QANplatform Vows to Cut The Deployment Time Through a new cloud deployment feature on its network, users of the Estonian-based blockchain platform – QANplatform – would be able to extend the QAN private DLT to cloud platforms such as Amazon AWS, Google...