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Top 10 DeFi Updates | July Week 3

The decentralized finance (DeFi) space has continued to grow exponentially, thanks to increasing global interest as well as important new updates.

To keep readers informed, we have listed some of the top DeFi updates of last week. Such DeFi updates include the yield farming program from TrustSwap and CREAM as well as Cardano recently completing its Alonzo upgrade.

1 โ€“ TrustSwap and CREAM Financeโ€™s Yield Farming Program

Last week, TrustSwap, in conjunction with CREAM Finance, officially launched yet another yield farming program for SWAP token holders. YIELD is popularly known as a DeFi app specially designed to facilitate easy investment in the decentralized finance space using either crypto or fiat currencies. It is easy to use and requires little or no technological know-how.

The launch of the yield farming program is an exciting opportunity for yield hunters to increase their earnings.

TrustSwap & @CreamdotFinance are launching a farming pool for crSWAP tokens to farm @YIELDapp tokens on Friday 16. Amazing opportunity for the Yield Hunters to increase their tier level and get even more yield on their stablecoins by using their app.https://t.co/PRTw8rju3m

โ€” TrustSwap (@TrustSwap) July 15, 2021

2 โ€“ Polkacover Strategically Partners With Cover Protocol

Polkacover is out to protect smart contracts from risks associated with decentralized finance. To achieve this, it strategically partnered with peer-to-peer (P2P) insurance platform Cover Protocol. Cover Protocol allows its users to determine the cost of insurance covers while being completely fungible. Since Polkacover is out to create an all-rounded insurance solution, its partnership with Cover Protocol is a welcome development.

Strong #partnerships are at the core of a successful project ๐Ÿš€

We are delighted to announce our partnership with @CoverProtocol ๐Ÿค, a peer-to-peer coverage protocol offering protection against #smartcontract risks

Read more๐Ÿ‘‡https://t.co/N4Dzp6kQZw #PolkaCover $CVR #Crypto pic.twitter.com/P4O4e8qXl8

โ€” PolkaCover (@PolkaCover) July 14, 2021

3 โ€“ Drops Strategically Partners With Enjin (ENJ)

Drops announced last week a strategic partnership with popular blockchain gaming and NFT platform Enjin (ENJ). The partnership will allow Drop users to borrow and stake tokens while using Enjin-powered NFTs and other in-game assets as collateral.

๐Ÿ๐ŸฅณHey hey hey!!!
We are thrilled to establish the strategic partnership with @enjin to enable staking and borrowing by Drops users against Enjin-powered non-fungible tokens (NFTs) and in-game assets!๐Ÿš€๐Ÿ™Œ
More info here๐Ÿ‘‡
https://t.co/MiIXenBB8I pic.twitter.com/nie8xsPyV1

โ€” Drops (@dropsnft) July 15, 2021

4 โ€“ PolkaFantasy Now on Polygon

The worldโ€™s first-ever Japanese-themed NFT marketplace is now live on Polygon (formerly MATIC). Now users on PolkaFantasy can easily trade and stake NFTs at much lower prices. The NFTs are inspired by Japanese gaming culture and anime.

๐ŸŽ‰ @PolkaFantasy is coming to @0xPolygon!

With #Polygon high-speed, low-gas infrastructure, users will be able to โ€˜trade & play NFTsโ€™ at significantly low costs.

๐ŸŒ Learn more: https://t.co/DfeuXNDtJ7

โžก๏ธ Follow @0xPolygonTech to know more about the Polygon ecosystem. pic.twitter.com/gvu1eTA6c9

โ€” Polygon (@0xPolygon) July 16, 2021

5 โ€“ Cardano (ADA) Completes Its Alonzo Upgrade

Cardano recently completed its much-anticipated Alonzo White upgrade. The upgrade is actually an improvement made on Cardanoโ€™s first testnet dubbed Alonzo Blue. The upgrade is scheduled to run for about two to four weeks with the final phase of the upgrade scheduled for September 2021.

HARD FORK SUCCESSFUL: Delighted to report around 19.44 UTC today we successfully forked the #Alonzo testnet to the new #AlonzoWhite node. The new network is happily making blocks already. 1/5

โ€” Input Output (@InputOutputHK) July 14, 2021

6 โ€“ NFTify Bridge Now Live

Last week, popular e-commerce platform NFTify launched its much-anticipated bridge. NFTify is also known as a one-stop shop for creating an NFT marketplace. The bridge will also facilitate the fast and seamless swap of N1 tokens with different blockchain networks.

๐Ÿ’ฅ NFTify Bridge is officially launched! โœจ

By using the Bridge, the user can easily swap N1 tokens among different blockchain networks.

๐Ÿ‘‰ You can find the bridge here, visit: https://t.co/8WllFwb8OM

Medium: https://t.co/mdprkxtZrz

โ€” NFTify (@nftify_official) July 15, 2021

7 โ€“ Crypto.com Partners With Polygon RSS Feed

Popular fin-tech and crypto credit card issuing platform Crypto.com has entered into a strategic partnership with Polygonโ€™s (formerly MATIC) RSS feed. The partnership will provide Crypto.com users with the latest happenings on the Polygon platform without having to leave Crypto.com.

๐Ÿ™Œ Weโ€™re excited to announce the integration of #Polygonโ€™s RSS News Feed to @Cryptocomโ€™s Polygon (MATIC) price page.

๐Ÿš€ Now, users can easily access all the latest news & information about the growing polygon ecosystem.

๐ŸŒ Explore now: https://t.co/MP9qdmPLr8 pic.twitter.com/AmLxtXnMby

โ€” Polygon (@0xPolygon) July 14, 2021

8 โ€“ Solana Launches Its Solbridge

Last week, Solana launched a bridge to Polygon dubbed Solbridge. The bridge will help connect DeFi service providers across numerous blockchains. Therefore, making it possible for users to transfer assets from Polygon to Solana.

๐ŸŒ‰ Bridge from @0xPolygon to @Solana is now live, powered by @Solbridge_io

๐Ÿ“ถ It will offer #Polygon users a simple & convenient tool to transfer assets between their network and Solana ๐Ÿ‘โ€โ€

๐ŸŒ Learn more about Solbridge โ€“ https://t.co/tOWRGagaGC pic.twitter.com/PFeRP6lrZm

โ€” Polygon (@0xPolygon) July 14, 2021

9 โ€“ Drops Integrates Chainlink Price Feeds

Decentralized finance (DeFi) platform Drops has integrated Chainlink decentralized price feeds. The NFT-based platform will now enjoy secure, reliable, and accurate price feeds on its crypto assets.

NFT-focused #DeFi ecosystem @dropsnft integrates #Chainlink Price Feeds on #Ethereum & @0xPolygon mainnet, giving the Drops platform tamperproof, global market prices on a variety of crypto assets to reference when calculating usersโ€™ loan collateralizationhttps://t.co/uOGowhwwfg

โ€” Chainlink โ€“ Official Channel (@chainlink) July 16, 2021

10 โ€“ CoinGecko Partners With Big Time

Last week, CoinGecko strategically partnered with Big Time to launch an NFT giveaway. Ten lucky persons will have the opportunity to win a Big Time-themed NFT during the contest. To participate, interested persons only need to purchase a CoinGecko candy voucher. The giveaway commenced on July 14, 2021, at 00: 00 EST and is scheduled to end on July 26, 2021, at 00: 00 EST.

Weโ€™re back with another giveaway! ๐Ÿ˜

Join our @playbigtime2 giveaway to win an exclusive Big Time themed NFT!

Whatโ€™re you waiting for? https://t.co/99FhnUrGeJ pic.twitter.com/E7Xcif9CVh

โ€” CoinGecko (@coingecko) July 14, 2021

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