Three Months of $DFYN: Looking back, and a glimpse of the road ahead

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Not only has our technology team made significant progress in the last three months, but so has our business development team. In addition to the foundational support provided by the team at Polygon, we have struck over 70+ partnerships including partnerships with major projects like Terra, Algorand, Avalanche, OKExChain, Elrond, Hashflow, Biconomy, Razor, Umbrella Network, UniLend, 1inch and many more. Most of these projects are deep-rooted into the crypto ecosystem and bring with them a lot of experience and value-add by introducing their communities to Dfyn. We have elaborated on some of these interesting collaborations in the following section.

Terra is a proof-of-stake (PoS) public blockchain network built on Tendermint and the Cosmos SDK. Terra deploys a suite of fiat-pegged, algorithmic stablecoins powering a thriving ecosystem of DeFi applications, including Mirror and Anchor Protocol.

Dfyn partnered with Terra to onboard their liquidity to Polygon. Even without a direct bridge from Terra to Polygon, we got upwards of $80 Million in liquidity from the Terra community. Terra’s tokens, namely UST and LUNA, gained more traction within the Polygon community. We have more partnerships planned with Terra, including the launch of Router bridge which will plug into TerraSwap on the Terra network to enable transfers & swaps between Terra and Polygon.

Algorand is the world’s first pure proof-of-stake foundational blockchain designed for the future of finance. The technology behind the Algorand blockchain enables a set of high-performing Layer-1 called co-chains to provide security, scalability, complete transaction finality, and built-in privacy to its users.

Algorand Foundation has added Dfyn to their Algorand Grant Program. The resources provided in the Grant Program will be used to build Dfyn’s AMM node on top of the Algorand blockchain and then integrate Router’s cross-chain bridge to that node. Seeing that building an AMM on Algorand is not a trivial task (since it is not EVM-compatible), Dfyn’s Algorand node might take some time to launch.

Elrond is a highly scalable public blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed.

Dfyn’s collaboration with Elrond will see Dfyn launching an AMM node there. Post that, we will also deploy a Router bridge to Elrond, which will enable Elrond assets to plug into the multi-chain ecosystem being built out by Dfyn & Router.

Chainlink is a fully decentralized oracle network that allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts. Chainlink is officially integrating with Dfyn to bring us custom price-feeds for a great user experience while participating in Dfyn’s Prediction markets.

Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality.

The Dfyn team will be launching an instance of its AMM on Avalanche, with Router Protocol establishing the necessary bridging infra to port liquidity from Ethereum and Polygon to Avalanche.

Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, & investors for a seamless experience. It brings safe and insurance-backed real-world assets to the crypto world.

Dfyn exchange will list the platform’s native TRADE token and support the project in its liquidity programs. Following Polytrade’s upcoming IDO, Dfyn will also host a TRADE farming event, enabling TRADE token holders to earn an attractive yield on their holdings.To further incentivize users to get involved with the Polytrade ecosystem, Dfyn will also host a trading competition, distributing rewards to users with the highest trading activity on the Dfyn exchange.

Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption with user-friendly products for swapping, presales and incubations, staking, anti-bot services, and transferring cryptocurrencies.

Dfyn will actively support projects coming out of Ferrum Network’s incubator and will be the default DEX partner on Polygon for projects launching on Ferrum Network. Connecting with Ferrum’s growing catalogue of Tier-1 DeFi projects will increase the visibility for both Router and Dfyn, bringing new use cases to the cross-chain interoperability infrastructure that we have been building.

Source: https://dfyn-network.medium.com/three-months-of-dfyn-looking-back-and-a-glimpse-of-the-road-ahead-ad504246c7a1?source=rss——-8—————–cryptocurrency

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