Regarding this week’s DeFi altcoins, the industry is witnessing exciting updates and launches across various projects. The developments that cryptocurrency enthusiasts should follow are the reasons for price movements. Let’s look at the details.
Chainlink and Radix developments in DeFi Altcoins
Within DeFi altcoins, Chainlink introduced Data Streams, a new low-latency decentralized oracle solution designed specifically for DeFi applications. These Dataflows are now live in early access on Arbitrum. It also provides opportunities for improved data flows within the ecosystem.
The highly anticipated Babylon Mainnet Upgrade has been successfully implemented. The upgrade introduces Scrypto, a smart contract language designed to simplify complexity for developers. It is expected that this development will facilitate smoother development in the Radix ecosystem.
Optimism and STRK developments
Among DeFi altcoins, Optimism is launching its first error-proof system on the testnet. Thus reaching an important milestone. Error Proofs are an important part of increasing the decentralization and security of Layer 2 (L2) solutions. It also marks a crucial step in the evolution of DeFi.
There is a development for StarkWare, one of Ethereum’s leading layer 2 scaling solutions. Accordingly, it states that there is a delay in the initial unlocking of the STRK token. On the other hand, among DeFi altcoins, STRK announced that the release was postponed to April 2024. Finally, despite significant VC funding, StarkWare is still working to launch its token.
Significant development for two DeFi altcoins
Stride Zone, a Cosmos-based liquid staking protocol, has a proposed merger with Cosmos Hub. This move will enable interoperability between Cosmos-based projects within DeFi altcoins. It will also potentially strengthen cooperation.
Composable Finance, a project dedicated to extending Cosmos’ Inter-Blockchain Communication (IBC) to Ethereum within DeFi altcoins, has launched the Ethereum IBC Testnet. Additionally, this development marks a significant step towards seamless cross-chain functionality.
Catalyst’s Cross-chain AMM and Gains Network’s revenue growth
Catalyst, an Automated Market Maker (AMM) to bridge various blockchain networks, is now live on the testnet. On the other hand, this development enables seamless asset swaps between major chains, including Cosmos, Ethereum and its new versions within DeFi altcoins.
Gains Network has significantly increased the revenue capture rate for GNS stakers by approximately 60-80%. Additionally, there is a 14% increase in GNS token supply. On the other hand, when we look at cryptokoin.com, this provides stakers with more opportunities for rewards.
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