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DeFi in Polkadot Vol.16| Khala Network, XAPN - Apron's stablecoin, rDOT live

Publish by jadevo at 03 May 2021

DeFi in Polkadot series is published weekly, which combines observations of Coin98 Ventures on the Polkadot ecosystem's decentralized finance-related projects.

For projects wanting to be featured in DeFi in Polkadot or having any suggestions, please chat with us at hi@coin98.ventures.

General

Apron released Stablecoin

Apron Network - a decentralized infrastructure service provider based on the Polkadot ecosystem, will introduce the stablecoin - XAPN as the service payment created by pledging APN.

According to Apron Network, XAPN represents the values in the infrastructure service marketplace. In the future, it will be used by dApp developers and users to pay for the use of the service.

XAPN is created by staking APN. The foundation vault and treasury vault will buy back the XAPN with APN/XAPN to maintain the liquidity of XAPN in the service marketplace. All the holders of XAPN will get dividends when the foundation does the buyback action.

ChainX x Manta Network

Manta Network - the plug-and-play privacy-preservation protocol built to service the entire DeFi stack, announced its partnership with ChainX - the earliest launched project in Polkadot’s ecosystem, which commites to the research and application of Bitcoin layer 2 expansion, digital asset gateway and Polkadot second-layer relay chain.

As a part of this partnership, ChainX will integrate Manta’s plug-and-play privacy protocol as well as offer support for private XBTC transacting.

Khala Network Slot Auction Strategy

Khala Network is the Phala pre-mainnet on Kusama. Khala will implement its mainnet on Kusama, as the parachain to serve creative and growth blockchains and DeFi service. Here are some highlights:

  • Khala Network’s native token will be K-PHA, which is PHA on Khala.
  • Khala Network will join the Kusama slot auction when the second slot is released.
  • The fixed reward ratio for the Crowdloan is intended to provide each participant a full 100 PHA per KSM, regardless how many KSM are raised.
  • There are 15,000,000 PHA set aside for rewards on Kusama auctions.

For more details, click here.

Plasm x Coinversation

Plasm Network - a DApps hub on Polkadot that supports Ethereum and layer 2 solutions like ZK Rollups partners with Coinversation Protocol - a WebAssembly-based synthetic asset issuance protocol and decentralized exchange based on the Polkadot parachain.

After announcing the collaboration between the two projects, Coinversation Protocol successfully deployed WASM-based synthetic assets on Plasm Network. From now on, Coinversation will work closely with the Plasm team to test and deploy the MintC and the synthetic-asset exchange on the canary network of Plasm, Shiden Network.

Moonbeam x Axelar Network

Moonbeam- an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications has established a partnership with Axelar - a decentralized network and tools that help connect dApp builders with multiple blockchain ecosystems, applications, and users for frictionless cross-chain communication.

This integration will enable developers on Moonbeam to work with Bitcoin and assets from Ethereum, Terra, and other ecosystems integrated with Axelar Network.

Moonbeam’s Illuminate/21 successfully on air

On April 27, Moonbeam celebrated one year since announcing the Moonbeam project by showcasing the projects that are already building on it.

Illuminate/21 - a dual-track online mini-conference that features both technical and non-technical presentations brings together the Polkadot and Ethereum ecosystems through the exploration of prominent multi-chain projects.

Rewatch the presentations here.

Stablecoin

Acala x Nodle

Acala - the decentralized financial hub and stablecoin of Polkadot that makes it fast and easy to use or build financial applications, improving trading efficiency and saving time has announced their partnership with Nodle - the decentralized IoT (Internet of Things) network of Polkadot, providing secure, low-cost connectivity and data liquidity to billions of IoT devices.

As a part of this collaboration, Nodle will be integrating Acala’s XTokens pallet in their Parachain codebase to support sending and receiving Nodle Cash tokens between other chains such as Acala Network, Laminar, ...

Bandot dual listing on Gate.io & MXC Exchange

Bandot - a Polkadot unsecured lending system, building a new paradigm of liquidity aggregation platform has officially announced their listing schedule on two big CEX Gate.io and MXC Exchange on 29/4/2021 at 21:00 (UTC +8).

Lending

Konomi x Litentry

Konomi is a decentralized money market protocol built using Polkadot’s Substrate announced their new collaboration with Litentry- a cross-chain decentralized identity aggregator, allowing the aggregation of identity records across multiple networks.

Through this partnership, Konomi will introduce Litentry’s on-chain Decentralized Identifiers (DID) data to better cater to the needs of our growing borrower and lender customer base and integrate Konomi’s identity data to Litentry’s aggregation protocol.

DEX

Polkaswap’s SOFT LAUNCH

Polkaswap’s SOFT LAUNCH is a stress-test the network with an aim to get feedback from users, and ensure that Polkaswap is ready for full launch. The announcements related to Polkaswap’s SOFT LAUNCH has been released with 4 main points:

  • The Polkaswap interface is updating slowly. The project hopes users be patient and wait between each action they take for the interface to update and show you the result of your input.
  • TBC Transactions.
  • SWAPS / XYK / SMART Transactions.
  • Bridge Transactions.

Polkadex released IDO platform

Polkadex IDO Platform allows token projects to create ERC-20 like tokens. Teams can raise funds and get listed on the Polkadex exchange in one click.

The project delivers a layer-two system on top of the Polkadex Network, and it’s claimed that the orderbook can accept trades in 20 milliseconds — with a capacity for 500,000 trades to be processed per second.

Aggregator

On April 28, the Polkadot Cross-chain DEX Protocol Zenlink established a strategic partnership with the Polkadot Wasm Contract Technology Lab — Patract. Both parties will join hands to find out the Wasm contract solution in the Polkadot Ecosystem.

In this collaboration, Zenlink will use the development tool - Redspot provided by Patract and the contract running sandbox environment - Europa to upgrade the Zenlink Wasm contract version,

Synthetic Assets

StaFi rDot mainnet

After team testing, third-party technical consultant testing and CertiK audit, StaFi - the first DeFi protocol unlocking liquidity of staked assets allowing users to stake PoS tokens through StaFi and receive rTokens in return, which are available for trading, while still earning staking rewards, has launched rDOT App on the mainnet.

The article provide more deeper understanding about reasons using rDOT to stake DOT, staking reward maximization strategy and commission and fees parameters in rDOT App.

Check out this article for detailed information.

StaFi proposal

StaFi - a DeFi protocol unlocking liquidity of staked assets in PoS networks suggests a solution to improve the liquidity and adoption of rETH by raising a proposal on CurveFinance DAO to add the rETH/ETH trading pair.

In the proposal, the team show detailed information about 4 main aspects:

  • The reasons why the team propose this solution.
  • Incentive mechanism.
  • Specification.
  • Helpful Links.

Read more about the proposal.

Shadows Network listed on PancakeSwap

Shadows Network -a hub for issuing, trading, lending and borrowing synthetic assets announced that DOWS tokens were tradable on PancakeSwap.

This is the first step to widen the ecosystem of Shadows Network on Binance Smart Chain.

Insurance

Tidal x Apyswap

Tidal Finance - a project providing insurance coverage for assets across chains in custom balanced liquidity pools, has established a strategic partnership with Apyswap - a protocol for the decentralised exchange of shares of Tokenized Vaults.

As a part of this collaboration, Tidal Finance will provide decentralized asset insurance to APYSwap’s tokenized vaults and the assets locked in them.

Tidal Finance Receives a Grant from Polygon,

Recently, Tidal Finance has received a significant grant from Polygon - an interoperable and scaling framework for building Ethereum-compatible blockchains through their developer support program.

Tidal team had chosen to launch its v1 insurance solutions on the Polygon network due to its 100% EVM compatibility

Data & Oracle

Kylin x Plethori

Kylin Network - a cross-chain platform powering the data economy on Polkadot, has announced their integration with Plethori - a revolutionary platform that will provide investors with the ability to trade a wide range of available ETFs.

Through this partnership, they will join hands with 2 main aspects:

  • Kylin Network’s data system will provide Plethori’s smart contracts with accurate, secure and timely real-world live data feeds, which will be used to drive the dynamic rebalancing of Plethori’s ETFs.
  • Kylin will also facilitate the collection and analysis of Plethori’s ETF trading and price data.

Paralink - a multi-chain oracle platform for DeFi and other blockchain applications, has partnered with OpenDeFi - a member-led organization composed of industry leaders from around the globe, combining deep expertise in DeFi applications, investing, eastern-western markets, algorithmic trading, protocol engineering, Web3.0 technologies, and smart contract innovations to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchains

Liquidity Pool

RAI x Launchpool

RAI Finance -a project to establish a decentralized finance (DeFi) ecosystem based on the Polkadot blockchain, has now become one of the staking pools on Launchpool - a project that brings investors together, aligns all for the benefit of everyone and the project.

From now on, users can stake RAI (BEP-20 standard token on Binance Smart Chain) on Launchpool to earn LPOOL tokens.

Detailed staking information here.

RAI node running

RAI Finance is currently at the final stage of docking adjustment in product function testing, data organizing, and user interaction. RAI Finance has completed the creation of a Graph Node by The Graph in its test network and has launched a test preparation plan for data indexing and uploading functions in multiple blockchain networks including the ETH chain.

Node Link:https://network.thegraph.com/profile?id=0x19755B22a68bb72e649F8faafdBb549ed3ea75D2&view=Indexing

In the future, RAI Finance will function as a node and will use its unique advantages in the Korean market to provide GRT node staking services for users in South Korea, combine RAI Finance’s community resources, and provide developers with services such as index query guidance and community promotion.

Reef x Kwikswap

Reef Chain- the first cross-chain DeFi operating system built on Polkadot enters the partnership with Kwikswap DEX - an all-new Cross-chain Automated Protocol on Ethereum & Polkadot incorporating Plasm & Acala Network Parachains.

Thanks to this collaboration, Kwikswap users would be able to trade assets at lightning-fast speeds with near-zero gas fees using the Reef chain.

At the same time, KwikSwap is developed on its own source code and its automated token exchange on the Reef chain

Reef x Dafi

Reef Chain - an ecosystem for Decentralized Finance has decided to work with Dafi - a synthetic protocol to create dREEF tokens which will be pegged to the network demand and stimulate adoption and further instill an increased level of confidence for $REEF holders.

Reef x Aavegotchi

Reef Finance forms a strategic alliance with Aavegotchi - an innovative NFT project that combines DeFi with Gaming which was inspired by Tamagotchi handheld arcade gadgets.

Through this collaboration, Reef users will be able to interact with Aavegotchis by simply staking the REEF tokens in Reef Yield Engine Basket while Aavegotchi NFTs are listed fractionally in the Reef DeFi baskets.

DeFi in Polkadot is created for information-providing purposes, not including investment advice.

For projects wanting to be featured in DeFi in Polkadot or having any suggestions, please chat with us at hi@coin98.ventures.

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