DeFi-focused altcoin projects have continued to grow exponentially lately. In February, the market value of the DeFi domain was $104,543,839,311. We have compiled some of the week’s DeFi updates to inform the readers of Kriptokoin.com. Benqi liquidity staking launch and Varen X launch on Polygon are some of the most important DeFi updates.
Here is the DeFi altcoin news of the week
First, Supernova Finance has published the details of a strategic partnership with the Jupiter exchange. Per the announcement, Supernova will now offer the best Terra USD (UST) rates available in Solana.
Second, play to earn (P2E) NFT racing game now first is partnering with the class oracle platform Chainlink. In this way, the Polygon-based NFT metaverse racing game will integrate Chainlink’s premium VRF feature.
tofuNFT formerly SCV Finance, now partner with Avalanche P2E and R2E game it’s working. The partnership also includes a public sale that begins on February 20, 2022, at exactly 16:00 UTC. Interested parties can buy and sell StarWars Avax NFTs on the tofuNFT platform.
US-based crypto exchange Kraken, DeFi stablecoin TerraUSD (UST) ) are listed. This means that interested people can now buy and sell the UST stablecoin on the Kraken exchange. However, UST’s trading on Kraken will not be available to Japanese residents.
Ethereum-based DeFi hub Varen X is partnering with Polygon. According to the announcement, Varen X also has a new feature, FreeWei. FreeWei will also facilitate swaps between different Blockchains without gas fees. Interestingly, Varen X is focused on keeping DeFi accessible to the masses. Its launch at Polygon brings this goal closer to achieving it.
The revenue sharing model from the first DAO to the DAO is coming to life. Jeremy Musighi confirmed this announcement during the much anticipated Ethereum Denver Event. According to the announcement, this is an important milestone achievement for the DAO ecosystem. It brings it closer to obtaining a permissionless DAO ecosystem. Interestingly, the DAO2DAO sharing model will provide pools with approximately 10-15% of their fees
DeFi DEX and CEX aggregator platform Orion Protocol has made adjustments to Governance staking rewards. According to reports, management staking rewards in Orion have doubled. Its annual return now stands at around 20%.
Benqi liquidity staking is now live on Avalanche Platform. This announcement closely follows the completion of Benqi’s audits by Halborn Security. Liquidity launch is also currently limited to 250,000 AVAX tokens. Interested parties can now stake AVAX to purchase BENQI. Also, Benqi has recently surpassed Trader Joe AVAX Apps TVL.
Trader Joe has recently entered into a strategic partnership with the Fief guild. According to reports, the partnership aims to launch The White Knight. White Knight is a fairly well-initiated project with more than $9 million in Seed LP and plans to double its farming bounty by Feb.
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