Known as “Decentralized Finance,” DeF has been making its way into the cryptocurrency world lately. The system makes it easier for financial products to be more open to a public blockchain network.
The DeFi room was awakened by the latest updates in the second week of August.
Here are the top 10 DeFi updates you should know about from multiple DeFi partnerships to the new bonus rewards system to find out more about it.
Top 10 most interesting DeFi updates (2nd week of August)
(Photo: Wanaka Farm Blog)
Top 10 DeFi Updates in August
10. Wanaka Farm Live in TOMO
Thanks to the platform’s partnership with TomoChain or TOMO, Wanaka users can now enjoy the extensive NFT games. The blockchain games are made much more exciting with the features of TOMO that would satisfy investors.
9. Harvest Finance FARM tokens at Binance
According to a report by Altcoin Buzz on Sunday August 22nd, the DeFi community is delighted that Harvest Finance FARM’s tokens are now available on the Binance chain.
BNB, BTC, BUSD and USDT are considered trading pairs of the DeFi space platform.
8. Dolphin Finance merger with Chainlink
Embedding it in Chainlink is a good step for Dolphin Finance to provide trustworthy price trends.
The DeFi market is guaranteed to be safer with Dolphin, as it makes it easier for users to use its borrowing and lending functions.
7. Polkadot now on SWFT blockchain
The latest DeFi update shows that Polkadot can be much better when integrated with the SWFT Allchain. Said platform currently supports more than 300 cryptos such as BSC and ETH.
6. BitDAO x SushiSwap
DeFi has had many partnerships, including the recent merger of SushiSwap and BitDAO. This allows more BIT tokens to be listed in MISO.
The blockchain world will be more enticing to investors as BitDAO is also known for fully securing several cryptocurrency firms like ByBit, Pantera, Dragonfly and more.
Also Read: ‘My DeFi Pet’ is a Play-to-Earn NFT Game Like ‘Axie Infinity’ – DPET, Gameplay, Earn and MORE
5. Fantom FDN x Shield Protocol
Another notable partnership staged in the DeFi room was the collaboration between Shield Protocol and Fantom FDN. The 2FA security in the Fantom Opera Chain emerged from the strategic collaboration.
The Fantom Opera for the Shield Wallet will be available soon.
4. Fantom x Graviton
The DeFi network also paved the way for Graviton to participate in the Fantom environment. Expect further innovations from the DeFi platform in the following updates.
In addition to the strategic partnership that the two platforms have established, there would also be a number of rewards with the Fantom tokens via Graviton.
3. Biswap DEX x Bella protocol
The DeFi company between Biswap DEX and Bella Protocol will deliver a new wave of partnership. Biswap is known for its three-type recommendation structure and is the first DEX system on the BSC platform to have such a function.
In addition, the DEX ecosystem is also popular on the platform because of its low fees.
2. The newest bonus reward system from StakeDAO
With several partnerships covering the DeFi space, StakeDAO seems to be different from them. The platform just released a bonus reward system that would also include NFT staking.
Now StakeDAO’s regular NFT stakers have a chance to enjoy the weekly rewards after the platform reaches a total value of $ 200 million.
1. SushiSwap welcomes Coin98
SushiSWap enthusiasts can now exchange ETH tokens for Coin98 (C98) tokens. You could do it the other way around with the AMM DEX platform.
With the official introduction of Coin98 in SushiSwap, users can now expand further options in trading.
In addition to these changes, DeFi users should always be on their guard against the scammers on the platform. In order not to get caught in fake tokens, you should know the identity of the company behind them.
You should also be aware of the various DeFi scams like rug pull scams, exit scams and more.
Related article: From Traditional Finance to DeFi: Creating a Complete Decentralized Finance Solution
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Written by Joseph Henry
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