DeFi in Polkadot Vol.8 | Mar 1st - Mar 7th

Publish by jadevo at 09 March 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.


Rococo and 11 parachains successful connection

Up until now, Rococo successfully connected with 11 parachains includes Tick, Trick, Track, DarwiniaNetwork, polkaBTC, PhalaNetwork, AcalaNetwork, Plasm_Network, CrustNetwork, Kiltprotocol, and hydra_dx.

Rococo Development Recap

Key updates in monthly recap:

  • A chain restart is planned to include new network optimizations.
  • Twenty validators will be added a day, targeting a total of 200 validators to test network stability after the chain restart.
  • XCMP testing between parachain teams is ramping up with the community, significantly contributing to fixing issues and discussing XCMP Lite requirements.
  • V0 XCMP Fee implementation is in the early stage of being implemented.

For more details, please visit here.

Polkadot’s integration with Ledger Live

Polkadot, a living network connecting multiple specialized blockchains into one unified network have partnered with Ledger, one of the leading provider of secure hardware wallet solutions to bring many security benefits of keeping users’ secret key secured on a Ledger hardware device while allowing them to manage their accounts and perform staking activity all in one convenient app.

Learn more here.

Parity Technologies X UCBerkeley

Parity Technologies - Blockchain Infrastructure for the Decentralised Web - and UCBerkeley ( University of California) have established a partnership to promote the blockchain learning experience among students and entrepreneurs and encourage them to launch their next blockchain startup.

Infrastructure & Parachain

Clover received Web3 Foundation Grant

Clover - an innovative Ethereum-adaptable smart contract infrastructure on the Polkadot ecosystem has been included in Wave 9 from the Grants program and has received a Grant from the Web 3 Foundation for building an interoperable foundational layer on the Polkadot network.

Check out the Cover announcement here.

Clover x Ethalend

The partnership between ETHA Lend - a DeFi yield optimization protocol and Clover - an innovative Ethereum-adaptable smart contract infrastructure on the Polkadot creates an efficient way of re-deploying ETHA Lend’s current codes to Polkadot-based protocols with little change needed by applying Clover’s framework for porting the existing Ethereum facing code to the Polkadot ecosystem framework.

Visit this link to read the announcement.

Clover x Prosper

Clover Finance, a smart contract platform that enables Ethereum developers and projects to migrate their contracts onto Polkadot, will work with Prosper - a non-custodial, cross-chain prediction market and hedging platform to bring the first non-custodial prediction market to Polkadot.

Learn more here.

Clover x DODO

Clover announces its strategic partnership with DODO - a decentralized exchange leveraging the Proactive Market Maker (PMM) algorithm built on Ethereum and Binance Smart Chain (BSC). The collaboration will make DODO become one of the first decentralized exchanges leveraging the Proactive Market Maker (PMM) algorithm bridging to the Polkadot DeFi Ecosystem through Clover and developing a better trading experience for Polkadot users.

For more information, check this post.

Apron’s seed and private sale funding closed

Here is the list of investors supporting Apron Network to secure a firm position in the Polkadot ecosystem:

Seed Round: NGC Ventures, Digital Finance Group, PAKA, Digital Renaissance Foundation, Candaq, Vega Ventures.

Private Sale Round: CMS holdings, Monday Capital, NGC Ventures, Digital Finance Group,

Spark Digital Capital, Republic, AU21 Capital, Vega Ventures.

Apron x Phala

Phala Network - a privacy-preserving cloud computing service, will cooperate with Apron Network - a decentralized platform for DApp developers, DApp users, and infrastructure operators to guarantee a reliable execution of providing service while keeping the data secret Apron Network.

Learn more about this collaboration here.

Apron x Bifrost

Apron Network enters a new partnership with Bifrost - a Polkadot Ecosystem DeFi infrastructure protocol. Bifrost will receive infrastructure services such as decentralized node services and on-chain data indexing from Apron Network through this collaboration.

You can check this article for all the related information about the partnership.

Centrifuge reached $4M TVL

On Mar 1, 2021, Centrifuge announced the big news to their Twitter community that their TVL reached $4m.

Darwinia x Rai Finance

RAI Finance - decentralized finance (DeFi) project based on the Polkadot network and Darwinia Network - an open, cross-chain bridge protocol built on Substrate, the “Golden Gate Bridge” of cross-chain ecology reached a strategic partnership to work together to explore possibilities in the field of cross-chain asset transactions.

Check out this article for more information.

Manta Meme Contest

Manta's Meme Contest is a fun and engaging community activity with USDT prizes. It started on 03/02/2021 and will end on 3/17/2021.

To participate in this contest, click here.

Plasm Network sponsors UC Berkeley Xcelerator Program.

Plasm Network - a scalable, interoperable, multi-virtual machine smart contract platform on Polkadot will sponsor the Xcelerator program to empower top blockchain entrepreneurs and scholars in the ecosystem.

Want to know more about this sponsorship, check out this article.

Plasm receives OKEX investment

Block Dream Fund, an investment institution under OKEx, has invested $100m in Plasm Network - a dApps hub on Polkadot that supports Ethereum and layer2 solutions, which is their first investment in the Polkadot ecosystem.

Learn more about this investment here.

Shiden Crowdcast

The Crowdcast is about Shiden Network Redenomination, and Kusama Auction Strategy happened at 8:00 pm Mar 2021.

You still can watch the replay of the Crowdcast here.

Moonbeam February’s report

A quick recap of the report:

  • A new version of our TestNet, Moonbase Alpha v6.
  • OnFinality and MVP Workshop joined the Moonbeam ecosystem.
  • A technical workshop about "Using Solidity #SmartContracts with Chainlink Oracles on Moonbeam.”
  • Some upcoming events.

To read the full report, click here.

Balancer X Moonbeam

Balancer - an AMM-based DEX will be working with the Parity team to port the Balancer protocol to Moonbean initially. This collaboration adds an essential capability to the growing DeFi ecosystem on both Moonbeam and Polkadot.

For more information, visit this article.

ChainX’s Desktop Wallet

The PolkaX team officially released the ChainX 2.0 desktop client wallet version 2.1.10 on March 3, 2021, supporting Windows, macOS, and Linux systems.

This version functions the same as the web wallet. You can download it here.

Crust Tokenomics

The article provides all information related to CRU - the official token of Crust.

Check out the article here.

PolkaBTC Beta Testnet Launch

PolkaBTC is the trustless Bitcoin-Polkadot bridge allowing users to mint 1:1 Bitcoin-backed assets onto Polkadot — PolkaBTC — and use these across a wide range of applications, including decentralized exchanges, stablecoins, and lending protocols.

Check the rule of this testnet incentive program here.


HydraDX is now Composable with Acala

HydraDX - a cross-chain liquidity protocol, and Acala - a decentralized finance hub and stablecoin platform powering cross-blockchain liquidity and applications have successfully finished a cross-chain token transfer on Polkadot testnet using xcmp.

Acala’s February report

Here are some highlights from the report:

  • First successful cross-chain token transfer.
  • Acala EVM launches for DeFi on Polkadot.
  • China community updates.
  • DeFi Demo Day tomorrow.
  • Chainlink hackathon on Mar. 15.
  • KaruraNetwork parachain auction.

Visit the full report here.


Equilibrium’s February report

A quick recap of what Equilibrium achieved in February:

  • A substrate_io -based runtime version of their automated market maker to the larger Polkadot ecosystem development.
  • The educational series.
  • Partnerships with Kylin_Network and rockx_official.
  • $ETH bridge is live on the testnet, and $EQ tokens are available for cross-chain transfers.
  • Equilibrium’s compatibility with Kusama and Polkadot is demonstrated by testnet integration.
  • The third edition of Equilibrium monthly community calls on February 26.

Visit the full report here.

Konomi Network closed $5M fundraising

Konomi is a full suite asset management solution for cross-chain crypto assets. Here is the list of investors participating in 3 rounds of its investment: Amplifi, Blocksync, CMS, Crypto J, Double Peak, LD Capital, DFG, Dream Fund, BTX Capital, Coin98 Ventures, FBG Capital, Moonwhale, Titans Ventures, AU21 Capital, Genesis Block, Altonomy, Zonff Partners, 4 Seasons, etc.

Learn more here.

Konomi's IDO on Polkastarter

Konomi will be conducting a Community Sale for the KONO token on the IDO platform — Polkastarter. Konomi intends to raise $200,000 from this IDO.

Check this article to understand more about the IDO details.


Mangata testnet

Gleb Urvanov - CTO of Mangata Finance, announced the release of the Mangata testnet on March 4th, 2021, with a new blockchain code and some UI improvements in the Mangata app.

Polkadex raised $3 million in seed and private rounds.

Polkadex, the decentralized exchange built for Web3 and decentralized finance, has successfully raised $3 million in seed and private investment rounds.

For more information, visit the announcement page.


Kylin Token Launch: Phase 3 - Uniswap

Kylin has successfully finished its token Launch by March 5th, 2021.

Want to know more about its distribution, read this article.

Reward Pool: $1000

Contest closing on 10th March.

Click here to participate in the contest.

SubQuery Explorer Introduction

SubQuery Explorer is an online hosted service that provides access to published SubQuery projects made by contributors worldwide and managed by the SubQuery team. It also provides a playground for discovering available data with example queries.

Sounds interesting? Read more about SubQuery Explorer here.


RAI x Bounce Finance

Bounce Finance -a decentralized NFT auction platform that incorporates liquidity mining, decentralized governance, and staking mechanisms enters into a partnership with

RAI - a cross-chain exchange protocol based on the Polkadot network to achieve the initial liquidity offering and provide users with a better-decentralized trading experience.

For more information, visit here.

Reef x Elrond

Reef Finance - the first cross-chain DeFi operating system built on Polkadot joins forces with Elrond, a high-performance blockchain platform optimized for the new Internet economy. This partnership will enable Reef users to access DeFi applications developed on Elrond directly through the Reef platform.

Read more about this partnership here.

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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