To the DeFi community,
This week, Osmosis DEX announced a $21 million fundraise, led by Paradigm. Funds will support development of the Osmosis protocol on Cosmos, where the Osmosis DEX allows users to trade without being impacted by MEV and provides greater flexibility for developers to innovate with DeFi. Osmosis DEX also enables Superfluid staking, whereby users can stake their LP tokens directly with Osmosis to earn OSMO rewards.
The Osmosis Foundation just conducted its first ever sale, raising $21M in a strategic round led by @paradigm! (number not an accident 😉)
Funds will support the many dev teams and DAOs building Osmosis into the leading DEX in the Interchain!https://t.co/eS84634Hry
— Osmosis (@osmosiszone) October 27, 2021
Project Serum, the on-chain liquidity routing protocol for Solana DeFi applications, announced a community vote approval to offer liquidity mining rewards worth $100 million, paid in SRM tokens to liquidity providers on protocols that interact with Serum, beginning with Atrix Finance.
It’s like mining for gold but it’s crypto! Project Serum is incentivizing users to use its liquidity mining tool to both supply liquidity and enhance operations. https://t.co/86bXIlUnOM
— Cointelegraph (@Cointelegraph) October 29, 2021
0x Labs announced a partnership with decentralized financial data distributor Pyth network to provide real-time crypto pricing data from the 0x network. Pyth already aims to bring real-world financial trading data to its decentralized network, and the addition of crypto pricing should make Pyth another formidable oracle data provider.
🔥 @0xProject joins @PythNetwork!https://t.co/b70t1SjAbX
— Peter Johnson (@TheChicagoVC) October 27, 2021
And NEAR protocol announced a huge $800 million funding initiative to support developers and accelerate growth on the four-year old blockchain. Funds will be available to developers throughout the ecosystem, with a particular emphasis on DeFi. NEAR also shared loose guidance that $100 million will be allocated for startups, $250 million will go towards helping existing projects scale up, and $100 million will be split among regional funds in Asia, Europe, and the US.
📣 Early #NEARCON Announcement! 💥
Learn more about @NEARProtocol‘s $800M Global Ecosystem Fund. 🔽https://t.co/00UaiA3jC1
— NEAR Protocol (@NEARProtocol) October 25, 2021
When I first started working on This Week in DeFi, just about all the good stories, innovation, and capital were connected to the Ethereum ecosystem – it’s the birthplace of DeFi, and work done there in the months and years leading up to 2020’s DeFi Summer has been essential to the success of DeFi in the public conscious and on all the other infrastructure to which it spread.
But this week, practically no headline stories for DeFi on Ethereum at all! It’s not to say that major development isn’t still taking place there, and much of the mature ‘inflection point’ innovation…
Read More: defirate.com
