Synthetix commence debt pool merger to enhance liquidity and staking capabili...
The merger of L1 and L2 debt pools is just one of a number of upgrades slated for this week within the Synthetix ecosystem. Decentralized finance, or DeFi, protocol Synthetix (SNX) has announced that the deployment of their Debt Pool Synthesis feature will occur on Thursday 9pm through 11pm UTC, expected to impact staking participants in two distinctive categories: SNX inflationary staking rewards and Debt Hedging.Currently, Synthetix operates debt pools across two chains, Ethereum mainnet and layer 2 Ethereum scaling solution Optimism, which have amassed an accumulative total-value-locked....
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DeFi is not an uncommon term in the current financial system due to its growing impacts on the financial market. It provides solutions to the limitations of traditional finance. It encourages an open and decentralized financial transaction that won’t depend on intermediaries, like banks, insurers, brokerages, or stock exchanges. Instead, it allows the use of decentralized networks to provide services to users. Despite the fact cryptocurrency allows decentralized transactions, it is faced with the same challenges that it has always avoided; intermediaries! So, this brought about the....
A handful of DeFi tokens are producing double-digit gains as Bitcoin price fights to turn $19,500 to a strong support level. The world’s negative-yielding debt has soared to over $18 trillion according to Bloomberg. In such times, it is no surprise that the decentralized finance space, a place where mouth-watering yields can be found, has become an investor favorite. Due to high investor demand, Coinbase pro has recently added support for several DeFi tokens. Expanding its offering further, the cryptocurrency exchange has announced that it will extend support for Aave, Bancor, and....
WiseSoft has recently announced that its integration with Binance Smart Chain is about to unravel into a BNB backed liquidity pool, funded via the upcoming Wise Liquidity Transformer Event on April 27th, 2021. The event will run for 15 days only or until the pool ceiling of 200,000 BNB is reached. Such a move, by […]
Singapore — August 17th – Lido Finance, a giant in the Ethereum staking world, will be enhancing liquidity on Polygon with KyberSwap Elastic. Lido Finance is the largest platform for liquid staking services on Ethereum. Powering DeFi and CeFi applications alike with their technology, Lido Finance empowers stakers to put their staked assets to use on their supported networks: Ethereum, Solana, Polygon and Polkadot. This first phase of this joint initiative is set to bring liquidity providers over $120,000 in liquidity mining rewards, with more incentives to come in the near....
Bright Enabulele, Launches the First Staking Pool for Oduwacoin (OWC) called Oduwa Pool An innovative Staking Pool for people of Africa and underserved communities around the world has been launched by the renowned Blockchain Strategist, Bright Enabulele, Co-founder of Oduwacoin. This is another major milestone Oduwacoin’s innovation is delivering to the global digital economy. Oduwa […]