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DeFi Wrap-Up by YieldBay
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DeFi Wrap-Up by YieldBay

Hey there sailors! Here's your weekly dose of Dotsama DeFi updates with a list of the highest APR yield farms

Sylvia Plath
Jul 24, 2022
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DeFi Wrap-Up by YieldBay
blog.yieldbay.io

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.


WEEKLY NEWS WRAP UP

1. Moonbeam x Axelar 

Twitter avatar for @MoonbeamNetwork
Moonbeam Network #HarvestMoonbeam @MoonbeamNetwork
1/ Connected contract use cases outside #Polkadot require robust cross-chain channels for interoperability between chains. ➡️ Enter @axelarcore Learn about how Axelar leverages general message passing to connect remote blockchains in this blog demo👇 moonbeam.network/blog/connected…
moonbeam.networkCross-Chain Connected Contracts with Axelar | MoonbeamAxelar’s general message passing (GMP) allows smart contracts to communicate with each other across chains.
2:56 PM ∙ Jul 21, 2022
137Likes46Retweets

The Axelar Network protocol has extended the number of networks to be within Moonbeam’s reach by allowing tokens to be bridged between select Cosmos and EVM networks. In addition to token bridging, Axelar’s general message passing (GMP) allows smart contracts to communicate with each other across chains. This allows developers to build cross-chain connected applications on Moonbeam that can tap into functionality from Polkadot, Ethereum, Avalanche, Cosmos, and beyond.

2. Integritee x Karura

Twitter avatar for @integri_t_e_e
Integritee Network @integri_t_e_e
🚨 Integritee’s #token is now live on the @KaruraNetwork! ⚡ The availability of TEER on another @kusamanetwork parachain was made possible thanks to an #XCM integration. 🔗 Users can now hold & exchange TEER on Karura. Read all about it: 👇🏽 bit.ly/3znNl1C
bit.lyCross-chain Integration of Integritee and Karura is Complete, TEER Now Live on KaruraZurich, Switzerland — July 21, 2022 — The XCM (cross-consensus messaging) integration of Integritee and Karura has been completed: TEER is…
9:03 AM ∙ Jul 21, 2022
76Likes20Retweets

The XCM (cross-consensus messaging) integration of Integritee and Karura has been completed: TEER is now on Karura and will be live on KaruraSwap in the very near future.

3. HRMP channel between Karura and Turing is finally live

Twitter avatar for @KaruraNetwork
Karura - DeFi Hub of Kusama @KaruraNetwork
⛓ The cross-parachain channel between Karura and @oak_network 's Kusama-based Turing parachain is live! More ↘️
Twitter avatar for @oak_network
OAK Network @oak_network
Our HRMP channel is OPEN with @KaruraNetwork & we are so excited to build cross-chain automation! Tell us what you want automated on Karuara in the replies 📈Auto-compounding 📈Limit Orders 📈Self-repaying vaults Learn more about our HRMP channels here https://t.co/aDtdbTZhNF
9:54 PM ∙ Jul 22, 2022
66Likes14Retweets

By adding support for HRMP, Turing becomes the automation hub for Kusama. 

4. Updates from Polkadex

Twitter avatar for @polkadex
Polkadex @polkadex
What's next for Polkadex?👀 As we get closer to mainnet launches, here's all you need to know about #PolkaIDO, #PolkadexOrderbook, #THEA protocol, the Polkadex #parachain, & more NOW: Finishing protocol development 🛠 SOON: Application-focused growth 🚀 polkadex.medium.com/up-next-for-po…
polkadex.medium.comUp next for Polkadexers!Everything is coming together at Polkadex. Get ready for better non-custodial trading!
12:09 AM ∙ Jul 22, 2022
110Likes26Retweets

 

After the successful runtime upgrade to v1.0.8, the public testnet release of Polkadex Orderbook, and the launch of the Polkadex Open Beta, the Polkadex network is getting ready for the mainnet releases of PolkaIDO and Polkadex Orderbook.

5. Parallel x Ledger

Twitter avatar for @ParallelFi
Parallel Finance (We are hiring) @ParallelFi
Eagle-eyed Parallel users have already noticed something 🆕👀 @Ledger Wallet support is available in dev mode! 🔥 Note: 🔹We're in dev mode 🔹While functional, we are making final tweaks for official launch 🔹Use w/ discretion 🔹DM if you see bugs 📚: developers.ledger.com/docs/live-app/…
Image
11:49 AM ∙ Jul 21, 2022
133Likes41Retweets

Probably the first Parachain to integrate ledger. Now, you can use Parallel apps with ledger dev mode. 

6. SushiXSwap

Twitter avatar for @SushiSwap
SushiSwap @SushiSwap
🍣 Launching SushiXSwap 🔀 The first ever crosschain swap AMM built on @StargateFinance and @LayerZero_Labs launching on Ξ @ethereum 💙 @arbitrum 🔴 @optimismFND 🟦 @FantomFDN 🔺 @avalancheavax 🟡 @binance 💚 @0xPolygon Start trading now at sushi.com/swap
Image
12:00 PM ∙ Jul 21, 2022
1,181Likes280Retweets

The first ever Crosschain AMM, built on Stargate. Users can now transfer tokens to any network supported by LayerZero Protocol in one click without ever leaving Sushi.


HIGHEST YIELD FARMS THIS WEEK

Moonbeam 

GLMR/madUSDC on Beamswap 321%

WELL/GLMR on StellaSwap 236%

GLINT/GLMR on Beamswap 220%

xcDOT/GLMR on Beamswap 204%

GLMR/USDC on Beamswap 177%

Moonriver

DOUBLOON/MOVR on Solarbeam 521%

DOUBLOON/TMAP on Solarbeam 415%

MFAM/MOVR on Solarbeam 210%

USDC/MOVR on Sushiswap 64%

Astar Network

4SRS on Sirius Finance 661%

4WETH on Sirius Finance 283%

4WBTC on Sirius Finance 245%

STC/XUSDT on Starswap 94%

ARSW/USDT on Arthswap 83%

Karura

aUSD/AIR 270%

3pool 22% 

Acala

aUSD/LDOT 22%

ACA/aUSD 20% 

Bifrost

KSM/RMRK 27%

KSM/vKSM 22%

Parallel Heiko

KSM/cKSM-20/27 41%

KSM/HKO 6%

Note: The APR of yield farms changes rapidly. The numbers indicated above may not be representative for long.


In case you haven’t, don’t forget to subscribe to The Bay Journal newsletter to stay up to date with DotSama farms and the happenings in the bay.


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