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What’s the latest happening on the DeFi front

Photo of: Janeth Diamond
by Janeth Diamond

A very large portion of DeFi applications, tokens, and platforms are presently hosted on the Ethereum network. The DeFi ecosystem is a much-distinguished milestone as the total value locked is increasing by the day. Let us see what’s hot on its front

Zoom Protocol is up and announces ‘Cold start’

The Zoom Protocol has been developed and positioned as a community-driven project that will be evolved further, managed, and administered by the community. ZOM is to be an ERC-20 token issued by the Zoom protocol and will be used for governance, staking, and rewards for liquidity mining. Every single day, a fixed allocation of ZOM will be accessible by the community as a part of liquidity mining. The ZOM rewards will be done on the basis of the liquidity they provide for the ecosystem.

Users can stake ZOM tokens with vote allocation on a 1:1 ratio. Vote holders can then be able to vote to start a proposal in the governance panel. The voters can either vote up or down for the proposal. The team will then take action based on the results of the vote.

The rewards will be

  • 80% of ether fees generated will be distributed to ZOM stakers in ETH as per the vote holding ratio. 
  • 20% of the mining allocation of ZOM tokens will be distributed to ZOM stakers.

DeFiPie integrates with ChainLink’s price feeds

DeFiPie is a much-admired DeFi platform where users can manage funds with respect to the risk appetite they have customized and the return boundaries. The app lets users earn returns on the assets quite on the lines of a money market account with varied options to distribute assets to high-risk protocols. DeFipie is not focussing on a robust UX that will enable users to join the DeFi markets with much convenience and ease.

The company is thrilled to be live on testnet on Chainlink. It will use Chainlink’s feeds on BTC/USD, ETH/USD, and LINK/USD. The integration will help the app to source accurate and close to precise price data for lending and borrowing, yield farming functionality, and governance token staking once it launches on mainnet. DeFiPie will use Chainlink’s price oracle data to undertake operations and outputs as per the specification of the users. They can also create a fully customized interaction with DeFi and since it is backed by reliable data they can confidently execute their contract conditions without any hitch.

Stafi releases it token metrics

Stafi is by far the first decentralized protocol that unlocks liquidity of staked assets. Here the users can stake their PoS token through Stafi and get rToken. This token will help the users get the staking reward and trade the locked staking token concurrently. The administration is gearing up for its mainnet launch. It is now functioning on the final sprint which is its staking competition. FIS is the native token of the protocol, the initial issue is 100 million, and every year ahead more of such issuance will take place. FIS is quite similar to Dot to Polkadot which will help in efficient value capture and system abuse.

The mechanism of reward distribution will be different for different PoS projects.