DeFi
135 Posts
DeFi
Praying for Mantis Airdrops
Mantis, a cross-chain AI enhanced DeFi platform created by the Picasso team, will be airdropping its new M token soon, and some members of the Polkadot ecosystem may be rewarded. Composable Polkadot Crowdloan participants, PICA stakers, and Picasso validators can now check their eligibility with the Mantis Airdrop Checker.
Why Not Upgrade, While We’re At It
As its V3 DEX contract does not allow the adjustment of LP parameters in accordance with planned veSTELLA incentives, Stellaswap has taken the bold decision to upgrade the entire DEX to Integral V4. While this will result in a delay to the launch of veSTELLA by a few weeks, it will bring a suite of new modular features to the DEX and a reduction of gas costs.
Doing the Lord’s Work
Lolmcschizz has initiated a discussion on Kusama OpenGov proposing that 33,333 KSM from the treasury be added to the Hydration Omnipool. This move aims to address the longstanding issue of KSM liquidity throughout the Polkadot ecosystem, which has forced many to resort to centralized solutions.
Hydration’s Getting a Little SUIter and SOLtier
Hydration Referendum 204 has passed, meaning Hydration Council multi-sig signers will now make an OTC purchase of USDC 150k of SOL and USDC 100k of SUI. After these assets have been launched on the Omnipool they will be topped up with additional OTC purchases.
Kusama Delivers a Frosty Favor
Bifrost’s request for a 50K KSM loan to boost the KSM-vKSM liquidity pair on Bifrost Stable Swap has been granted by Kusama governance. This will provide valuable vKSM liquidity as Bifrost prepares to bring vKSM to Polkadot via the KusamaPolkadot bridge, and across numerous other chains with its new SLPx protocol.
2025 the Year of the DEX
Polkadex has unveiled its 2.0 Roadmap with four major milestones for 2025. Cross-chain transfers are expected in Q1 with the integration of Hyperbridge, while high-frequency trading should be enabled by Q2. Q3 and Q4 will see barriers to entry lowered with the integration of EVM Wallets and credit card crypto purchases and sales.
Farewell vFIL
Bifrost has begun the phased shutdown of the vFIL service. It has already ceased FIL deposits into Bifrost, and vFIL minting is expected to end by the end of the year. The final phase of the shutdown is expected to be completed in Q3 2025, however users are recommended to complete vFIL redemption and cross-chain transfers of FIL by Q2 2025.
Don’t Liquidate, Hydrate!
The Hydration money market is live, offering lending and borrowing of WBTC, DOT, USDC, and USDT. The lending pools have been seeded with almost $3 million of Protocol-Owned Liquidity (POL). Hydration’s money market is a fork of AAVE v3, with additional layers of MEV exploit protection through controlled block ordering.
Get Ready for the HyperDEX
As part of its new roadmap, Polkadex will be forfeiting its parachain slot upon expiry and integrating with Hyperbridge. With this integration, Polkadex aims to tap in to a wealth of cross-chain liquidity, and expand its token support across the Polkadot ecosystem and beyond. To facilitate a smooth transition, Polkadex users are recommended to withdraw their non-PDEX tokens by December 15th 2024.
Lock Your STELLA, Unlock Big Rewards
As part of Stellaswap Reborn, Stellaswap is launching the veSTELLA token which will be generated by locking STELLA. Tokenholders will earn 83.5% of trade fees, and 10% of LSD revenue, all paid in USDC. The veSTELLA token will be used as voting token to choose incentivized pools, and can act as a yield booster when staked in a pool.
All Hydration is Equal, But Some is More Equal than Others
Round 2 of the Polkadot Hydration Campaign is live. In accordance with Hydration Referendum 214, pools have been adjusted to divert funds towards the most successful pools of the first wave. Most notably, rewards for the PHA pool were increased by 100%, resulting in initial APRs of 65%. In the coming days a second referendum will be initiated to start two new farms - vASTR and MYTH/DOT.
Anemoy Demystified by Chronicle's Oracle
Centrifuge has partnered with RWA Oracle provider Chronicle Labs to provide enhance the transparency of the Anemoy UST Liquid Treasury Fund. Users will be able to access to verified real-time price updates, comprehensive portfolio data, and Net Asset Value (NAV) of on-chain and off-chain holdings.
A BounDeFil Boost to the Ecosystem
The DeFi and Infrastructure Bounty has released its September 2024 Update, detailing funding for six projects. DIA received $119.25K to integrate trade data from the Hydration Omnipool and Bifrost DEX into its price feed oracle. A Child Bounty of $20K went to Alchemy Pay for the integration of Asset Hub DOT, USDC, and USDT into their on/off ramp. KILT's Polar Project which provides tooling for bridging Polkadot parachain native tokens to Ethereum with Snowbridge received €16.8K of funding. KuCoin received $80K for integrating Asset Hub USDC support. Harbour will receive €150K for integrating Asset Hub USDC, USDT, and DOT onto their Magic Ramps, which integrate personalized IBANs into Web3 wallets for seamless bank account transfers. For $136.8K, Dip Dup is developing API endpoints that give Polkadot developers access to live market data powered by Dexscreener. This will enable them to display prices charts and trading history for Polkadot ecosystem DEXs.
Hydrated and Updated
Check out the latest updates to the Hydration app. The Staking page has been redesigned show a visualization of your rewards percentage over time. You can now join farms with one click at the same time as adding liquidity, and now it is possible to transfer liquidity positions from the Wallets tab.
DOT and GLMR Get Stellated
The DOT Incentives campaign has commenced on Stellaswap. Incentives will be rolling out weekly. The theme for Week 1 is "Bluechips", with additional DOT incentives being added to the GLMR-DOT, DOT-USDT, and GLMR-USDC pools. Some pools saw initial APRs of more than 300%!
Bonus Hydrated Fortnight
Round 1 of the Polkadot Hydration campaign has been extended by two weeks to the 29th of September. This will give the community some additional time to discuss potential changes to Round 2 farms, and assess the impact of the Stellaswap incentives which went live on September 11th.
DeFi Autumn?
The Stellaswap DOT Incentive Program is finally launching on September 11th. One million DOT for the incentive program were granted to Stellaswap with OpenGov Referendum 580 in April 2024. The rewards will be spread amongst four categories - stablecoins, bluechips (DOT and GLMR), liquid staking, and native Polkadot projects. The incentive program will last for 12 months, with Stellaswap targeting a more than 10x TVL increase to USD$55M.
Could I Borrow a DOT?
Kylix Finance, an advanced DeFI lending platform, receives one of the final Web3 Foundation Decentralized Futures grants. Kylix offers a multi-chain lending platform with permissionless creation of lending pools, strong incentives for liquidity providers, and on-chain auctions for liquidating collaterals.
DOT the Bounty Hunter
Velocity Labs announces the first three child bounties of the Polkadot Treasury funded DeFi and Infrastructure Bounty First, USD 63k for Kucoin for Asset Hub integration and support of USDT deposits and withdrawals. Next, USD60k for Ramp Network to integrate Asset Hub with support for USD, USDC, and DOT deposits. Finally, 118k for Zapper to integrate the EVM parachains Astar, Hydration, Moonbeam, and Acala into their Web3 portfolio dashboard.
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