Hey there sailors! We're back with our weekly dose of Dotsama DeFi updates with a list of the highest APR yield farms and some updates on YieldBay List
Disclosure: This content is for informational purposes only, and you should not make decisions based solely on it. This is not investment advice. Please exercise extreme caution if you intend to participate in any listed opportunity.
UPDATES
YieldBay List is currently tracking 78 farms across 7 protocols and a complete design overhaul is underway. For more details, read our previous blog.
Weekly wrap-up
1. StellaSwap Partners with Algebra to Bring Concentrated Liquidity To Polkadot & Moonbeam
StellaSwap has partnered with Algebra to launch a capital-efficient DEX called ‘Pulsar’, utilizing the power of concentrated liquidity to provide a much more efficient way of trading and earning as before. Their current model isn’t capital efficient and suffers from high-slippage. With Pulsar, we’ll allow liquidity providers (LPs) to ‘concentrate’ their liquidity in specific price ranges to maximize capital efficiency.
2. Crypto.com DeFi Wallet now supports the Moonbeam and Moonriver parachains!
Users can instantly access and interact with DApps on both networks by looking them up in the DeFi Wallet’s DApp Browser.
All of the platform's SDK features are now available for devs on Moonbeam, including multichain, infrastructure, cross-chain transaction batching, meta-transactions or P2P payment channels.
Multi-chain data analytics platform Blockpour has integrated Moonbeam on-chain metrics! Users can tap into Blockpour's real-time data & cross-chain interface for token analytics across DEXs, dApps, & AMMs.
5. Zenlink DEX Contract Upgrade and Liquidity Migration
Zenlink has upgraded their DEX contracts on Moonriver and Moonbeam and initiated the liquidity migration. The new contracts will overcome limitations of their older versions and enable longer-term development needs.
StellaSwap will launch a standard LDO farm, with Lido and Beefy providing an initial liquidity of $10,000 into the farm. Additionally, Lido will provide an initial $5,000 worth of LDO incentives to attract users to stake into the farm. Beefy will launch the LDO farm to allow users to auto-compound their rewards into their LP.
Axelar’s general message passing (GMP) allows smart contracts to communicate securely across chains. This enables developers to build cross-chain connected applications on Moonbeam that can tap into functionality from Polkadot, Ethereum, Avalanche, Cosmos, and beyond.
Due to Mangata’s freshly opened XCM channel with Turing Network, Mangata X users will be able to seamlessly transfer assets between Turing and Mangata X. Mangata’s partnering with OAK Network to explore how Turing (OAK’S canary network on Kusama) gives traders new tools like auto-compounding, dollar-cost averaging, iceberg orders, and more. This is the first time another parachain is bootstrapping with their brand-new bootstrapping pallet.
10. Congratulations to Kylin Network on winning Polkadot's 25th parachain auction!
Kylin is building a cross-chain platform powering the data economy on Polkadot. It aims to power Web3 adoption through revolutionizing data access and awareness.
The Kepler network is the “canary network” of SubQuery that will be deployed on Karura, the sister network to Acala. The Kepler Network will enable thousands of users to progressively adopt the decentralised features of the network and earn real rewards for their efforts.
12. Parallel Liquid Crowdloan will support Aventus & Crust for Polkadot Slot Auction 26
Beginning Aug 29th, users will be able to contribute to Aventus crowdloan on Parallel Liquid Crowdloan page, and earn extra 4 PARA/DOT reward on top of the crowdloan rewards offered by respective projects. Crust has already been listed on Aug 24th.
The Polkadot Parity team proposes to launch more Common Good Parachains. The proposal states that on the technical side, the work involves runtime changes to allow for more expressive interaction on XCM and to develop a test and release process that scales to multiple runtimes.
Moonbeam has announced a cross-chain integration with the Phala Network, making the PHA token available for use on Moonbeam. Once PHA is deposited on Moonbeam as xcPHA — the XC-20 representation of the PHA token — it can be used across Moonbeam’s active ecosystem of DApps. The GLMR token can also now be used in SubBridge, a cross-chain router built on Phala, joining eight other assets already available.
