Sushi Launches Complete Suite of Products on Harmony – Blockchain Bitcoin News

Since deploying natively on Harmony’s blockchain in May, Sushi has been deepening its collaboration with Harmony after announcing plans to bring its full decentralized financial product stack (Defi) to the blockchain, with accompanying incentives designed to encourage greater participation. Meanwhile, competition on decentralized exchanges (Dex) continues to increase.

Expansion of the partnership accompanies incentive campaigns amounting to 4 million US dollars

On Thursday, Harmony, a proof-of-stake (PoS) blockchain network focused on cross-chain transaction capability, announced a decision to expand its partnership agreement with Sushi, a community-run defi platform that provides a full stack of decentralized financial services offers.

After the sushi swap was made available on Harmony in May, the newly strengthened collaboration paves the way for Sushi to make the rest of its product suite available on the effective Proof-of-Stake (EPoS) blockchain.

Sushiswap is the second runner-up in this area with an 11% share of Dex trading volume, according to today’s 7-day statistics from Dune Analytics. The leading index is Uniswap with 61% of the seven-day volume. Based on the latest data, Sushiswap’s seven-day volume is $ 2,079,972,559, while Uniswap is way ahead at $ 10,793,064,634.

Additionally, aspiring players like Curve and 0x Native are trying to fill the void, with Curve showing up at seven-day trading volume of $ 1,427,401,281 and Ox showing up at $ 1,091,283,123 for seven-day trading volume.

To coincide with the second anniversary of Harmony’s mainnet launch, the expanded partnership aims to strengthen the protocol’s cross-chain defi capabilities while leveraging Harmony’s 2-second transaction speeds and low transaction costs.

The use of full sushi stacks is accompanied by two incentive campaigns. This includes a $ 2 million liquidity mining campaign promoting yield farming with $ 1 million of ONE and $ 1 million of 1Sushi token rewards.

Kashi, a decentralized lending app (dapp) built on Sushi’s Bento Box, is also natively provided on Harmony. The credit and margin trading platform will be the target for another $ 2 million incentive program that will include $ 1 million One and $ 1 million 1Sushi tokens. Bento Box, an asset safe, is not provided on Harmony. However, the saved assets are accessible to Dapps based on them.

Fix the deficiencies of Defi

As Defi-Protocols try to avoid the high costs and low throughput associated with Ethereum, the race for deployment in competing networks and solutions is on.

Operating in a sea of ​​Defi solutions, Sushi is by no means the only platform taking a step towards new horizons, which is reflected in the introduction of Polygon by Aave and Curve. Sushiswap is also on Polygon, which underscores the platform’s rapid adoption.

Polkadot is also attracting defi’s attention as an alternative to Ethereum’s scalability and cost restrictions. Acala, which aims to be the Ethereum-compatible Defi hub on Polkadot, has won the first Parachain auction on Kusama, Polkadot’s Canarian network, with its own Karura platform, which the extremely competitive Defi landscape may be in steers another direction.

As the costs and difficulties of switching between blockchain networks continue to decrease, it remains to be seen whether the upcoming move from Ethereum to Proof-of-Stake can prevent the migration of platforms looking for better conditions elsewhere.

What do you think of the collaboration between Sushi and Harmony? Let us know in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



source https://bidsfor.me/sushi-launches-complete-suite-of-products-on-harmony-blockchain-bitcoin-news/

Comments

Post a Comment

Popular posts from this blog

‘Doctor Bitcoin’ pleads guilty to operating an illegal crypto exchange in the US and faces 5 years in prison – regulation Bitcoin News

A Texas man who calls himself “Doctor Bitcoin” pleaded guilty to having operated an illegal cryptocurrency exchange business converting cash into Bitcoin. He faces five years in federal prison. Crypto Exchange Operator pleads guilty The US Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, pleaded guilty to “illegally engaging in a business converting cash into cryptocurrency.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to running an unlicensed money transfer company. Acting US attorney Prerak Shah in detail: This defendant ignored federal law and allowed scammers to use Bitcoin to operate under the radar of law enforcement. We are determined to rid the Bitcoin market of anyone who knowingly helps criminal actors hide illegal profits in crypto wallets. Hopkins admitted to running a cryptocurrency exchange business and converting US dollars into cryptocurrency, primarily Bitcoin, for a fee. He also admitted...
Read more

Payments Giant NCR brings Bitcoin trading to 650 US banks and their 24 million customers – Finance Bitcoin News

Payment giant NCR and New York Digital Investment Group (NYDIG) are working together to enable 650 U.S. banks to offer Bitcoin trading to their 24 million customers through their mobile applications. 24 million customers from 650 Main Street banks could soon have access to bitcoin trading New York Digital Investment Group (NYDIG) said Wednesday when 650 banks and credit unions in the US will soon be able to offer Bitcoin trading to their customers via their mobile applications. The Bitcoin option is made possible through a collaboration between NYDIG and corporate payments giant NCR. NYDIG is a bitcoin technology and financial services subsidiary of Stone Ridge, a $ 10 billion alternative asset manager. NCR digital banking president Douglas Brown was quoted by Forbes as saying: We strongly believe in the benefits of crypto and its strategic application. And that goes for our banking relationships, as NYDIG proves, and for retailers and restaurants and the like. Founded in 1...
Read more

These are the 5 Most Expensive Crypto Economics Assets Per Unit – Markets and Prices Bitcoin News

Image
As of July 18, Bitcoin is the most valuable cryptocurrency in US dollars per unit, currently trading for $ 31,693. In addition to all the packaged Bitcoins and synthetic Bitcoin connections, the second highest crypto asset per unit is the longing for financing and the manufacturer follows. Removing market cap positions and looking at crypto assets this way gives a user a completely different perspective. A look at the top digital currencies by unit price At the time of writing, there are only two crypto assets worth five digits and only two worth four. A look at the price of each coin per unit shows how many coins are being traded in certain price ranges. The unit price recorded in this report was recorded at 8:55 a.m. EDT on Sunday, July 18, 2021. The data was collected from the crypto market aggregation sites market.bitcoin.com and coingecko.com. The five most expensive crypto assets per unit include Bitcoin, Long Finance, Maker, Ethereum, and Bitcoin Cash. The per-unit pric...
Read more