It’s been too long since I put out a subscriber only post. Thank you to all of the new Ethropy members…your contributions in the Discord and my paychecks are so truthfully appreciated. Let’s rock DeFi Summer 2.0! Here we go with the alpha farming news:
Kucoin Community Chain launched on mainnet ($KCS)
Kucoin has launched a ‘decentralized’ Proof of Staked Authority blockchain that will support a developer ecosystem and governance. Kucoin is trying to piggyback on the success of Binance Smart Chain by allowing developers to deploy DeFi DApps and users to use them at low cost.
This will be interesting to watch. The testnet ran successfully and Kucoin has created a block explorer.
Kucoin will build bridges to Ethereum and other ERC-20 compatible chains in the hope of increasing its new chain liquidity and TVL.
$KCC will be used for trading and gas fees on Kucoin Community Chain.
Expect big yield farming opportunities in the near future and follow Kucoin Community Chain’s Twitter for updates.
There are currently two DEX’s launched on KCC:
Kuswap has a KCS-KUS pool with very high APY. Medium Post on Yield farming https://kuswap.finance/
Koffee Swap - https://koffeeswap.exchange/
Interesting Twitter Thread:
Harmony One partners with Sushi for >$4m in liquidity incentives ($ONE and $SUSHI)
There will be $1m ONE and $1m 1SUSHI rewards distributed over 12 months.
Harmony One is a layer 1 blockchain with fast finality and very low fees. Currently, the DApp ecosystem is quite limited, but Harmony’s partnership with Sushiswap will really increase the TVL.
Harmony has built a bridge to Ethereum and ERC-20 assets. New users will have to create a separate Harmony wallet from their existing Ethereum address, but can send ERC-20 compatible assets to their Harmony wallet.
A ONE-ETH Onsen pair will be included for high APY
The arrival of Sushi may encourage new DeFi apps to deploy on Harmony One because Sushi’s reputation for security and easy token liquidity deployment.
Kashi (borrowing/lending) will also launch on Harmony’s Sushi instance, meaning the first crypto bank will arrive. This has typically been a massive boon to new layer 1 chains as liquidity expands.
The details about launch timing will be announced this month. You haven’t missed the boat!
CREAM/Polygon ($CREAM and $MATIC)
Announcement - At launch, users will be able to supply and borrow tokens on the following markets: USDC, USDT, DAI, WMATIC, WETH, WBTC, LINK, SUSHI, CRV, QUICK.
Details aren’t clear quite yet, but the deployment of CREAM on Polygon will include liquidity incentives. Follow CREAM on Twitter
If this goes anything like the Aave deployment on Polygon (very high $MATIC rewards for borrowers and lenders), it will be an opportunity not to miss.