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Winter is Coming – But DeFi is Just Heating Up

A week into November and the world of decentralized finance is looking hot. Most of the top cryptocurrencies have hit all-time highs and continue to increase. Numerous new projects and forks have been announced, adding even more excitement to the market.

With all the current buzz, it can be difficult to keep track of everything going on. That’s why we’ve compiled a list of the top news-worthy events currently taking place in November.

Avalanche Blockchain

The Avalanche blockchain has a lot going on, and even more working its way up the pipeline. November is an extremely busy month for the blockchain, with a number of new projects being announced and released.

Blizz Money Market

One of those projects is Blizz, a money market fork of AAVE. While a large majority of the code is coming from AAVE, the developers actually took inspiration from the Geist project on the Fantom blockchain. After seeing the massive success the platform had in October, the Blizz developers teamed up with Geist to implement a similar platform on Avalanche.

The final product? A money market DApp built to distribute 50% of all fees to Blizz holders. Additionally, the team has also hinted at some additional improvements over the Geist platform. You can get more information by checking out the pre-launch announcement.

Spell Staking

More big news for the Spell/MIM project, Spell holders can now stake the token on the Avalanche chain in exchange for sSpell. This should make Spell staking a much more profitable venture as it has previously been restricted to the Ethereum blockchain. This has made it difficult for smaller investors to turn a profit due to the massive fees.

Additionally, Spell has been on a big run over the last few months thanks to the system expanding to Fantom and other blockchains. In fact, the Spell token recently flipped Maker, which many people have taken as a very bullish signal.

Popsicle Finance

Popsicle Finance has finally been re-released after an exploit took it down. After the exploit, the project was immediately taken down and the development team went to work on v2. The project is led by Daniele Sesta, a very big name in the world of DeFi. In a recent interview, he had noted that he refused to release the project until the safety and security of its users was guaranteed.

Well, apparently that point has been reached, as the DApp was launched on the Ethereum blockchain this past week. Popsicle Finance is a multichain yield optimizer for liquidity providers. Currently, it’s only on Ethereum, but the development team is hard at work launching on Fantom as well as Avalanche. You can check out its native token ICE or learn more about the project on its website.

Ubuntu Token

Hot on the tail of other big DeFi news, the launch of the Ubuntu Token project was just announced. As one of the first charitable blockchain projects, Ubuntu brings charitable giving and donations to the world of DeFi. The project labels itself as a decentralized global cryptocurrency exchange platform and is currently looking to roll out on Ethereum, BSC, and Polygon.

The project operates around the $UBUT token, which can be found on all of the large DEXs including Pancakeswap, Uniswap, and Quickswap. As a charitable DAO, the project is focusing on three primary charity causes. Cancer treatment, mental health and disability support, and lesser-privileged children education. You can find out more about the project by reading their official announcement, or by checking out their website.

Binance Cloud on Fantom

The Fantom Foundation has announced that they are developing an exchange powered by Binance Cloud. While specific details are lacking, the team has stated it will bring high-frequency trading to the platform, as well as deeper liquidity. It has even been hinted at as a FIAT onramp for the Fantom blockchain.

This has huge implications for the Fantom blockchain as it has long suffered from liquidity issues. It has also been a difficult, multi-step process to move funds (especially FIAT) to the platform. The process typically required the use of a central exchange, multiple wallets, and a bridge. This new exchange might just change that, providing a much easier process to get liquidity to the platform. You can check out the official announcement here.

Olympus Pro Expands to Fantom

Olympus DAO has been making waves with an incredibly unique project that has offered some pretty insane returns. With APRs advertising an 8000% APY, it’s made many questions its authenticity and concept. But it has held strong since it’s launch several months ago, and continues to deliver value to its holders.

Now, the project has just expanded to the Fantom blockchain, albeit with an initially minimal offering. Olympus Pro can now be utilized on Fantom, however, it currently only offers bonds to 4 projects. These projects include Spookyswap, Spiritswap, Liquid Driver, and Scream. Rewards are paid out in the project’s own native token, not OHM. You can check out the project here.

A Busy Fourth Quarter

Historically, Q4 has been a very bullish time for cryptocurrency. This trend started back in 2017 when the world got its real first look at blockchain and the world of DeFi. Things have come a long way since then, and cryptocurrency is more popular than ever before. With new blockchains, platforms, and DApps, DeFi is definitely showing up traditional finance.

But the world of blockchain has just begun. There are countless opportunities for innovations and improvements on old processes. As these blockchain ecosystems continue to develop, we will continue to see the amazing potential of decentralized finance and all it has to offer.

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