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Growth DeFi Ecosystem Lands on Avalanche Network and Goes Cross Chain

Growth DeFi Ecosystem

Decentralized Finance, or DeFi, allows millions of new people to borrow, lend, trade, save and do more without the approval of firms whose interests may differ from those of its consumers or purchasers. In terms of both users and total value, the DeFi sector is constantly rising. However, this could have ramifications for the fintech business.  DeFi members may keep complete control of their assets while still having access to financial products and platforms that offer considerable benefits over their competitors. DeFi users make the majority of decisions, such as trading on a decentralized exchange, lending money through liquidity pools, holding assets using private keys, and purchasing tokens, among others.  CoinGecko reports, DeFi has only 5% of the crypto market, but it has seen impressive growth recently. Till June 2021, the crypto market has $93 billion in DeFi assets, up from $4 billion just three years before. And with projects like Growth DeFi, the DeFi industry has many more milestones to achieve. To build a sustainable environment, the Growth Defi ecosystem makes use of a variety of assets. This allows customers to diversify their risk and generate one or more revenue streams from their investments. Let’s try to get a clear idea about this and its Cross Chain expansion on the Avalanche Network.  What is Growth DeFi? Growth DeFi is a decentralized ecosystem that combines a variety of products to focus on capital efficiency and maximizing returns. The goal is to maximize token holder value while maintaining market-leading yields and products. The Growth DeFi ecosystem is made up of multiple chains. GRO is the prime token of the ecosystem, it has governance authority over Growth DeFi’s ecosystem, is deflationary, and partial revenue from all Growth DeFi products is allocated to GRO token holders. gROOT is a token that is directly tied to DeFi’s performance in BSC by accumulating a treasury of yield farming positions in several protocols such as Pancake Swap, Auto Farm, and Venus. The WHEAT token is used to encourage the GrowthDeFi ecosystem’s products. In exchange, a considerable percentage of the money is allocated to buybacks and burns, with the ultimate goal of deflationizing WHEAT. Growth DeFi just stated that it is switching to a Cross-Chain model. And these are the justifications they gave: The cost of transactions is lowered. Transactions that are executed in a shorter amount of time TVL and composability for other chains and L2 solutions are on the rise in 2021. A bigger market to which you can cater Higher overall yields can be achieved by combining chances from multiple chains. MOR & WHEAT turning Cross-Chain on Avalanche The Avalanche network will receive the Growth DeFi ecosystem ($GRO, $WHEAT, and MOR, including the MOR and WHEAT protocols) in October. After a thorough examination of their cross-chain expansion options, the team believes the network is ideal for them to move into. They’re already developing alliances and ties with projects and the ecosystem to guarantee that the launch is a tremendous success for AVAX users, and we’re enthusiastic about the potential of offering even more upgrades and improvements to their products to assist consumers to get the most out of the market. Wheat UI Update They hired the same designer to revamp the WHEAT site as well (along with the main Growth UI), for what they did for MOR’s website. After the governance portal is finished and govGRO is ready to be added as a pool, this will be displayed. Airdrop for GRO and xJOE holders As previously said, the xJOE holders base will be snapshotted, and the platform will airdrop GRO to around 3207 xJOE holders. The airdrop’s total value equals 0.77 percent of GRO’s circulating supply, and: The top 100 people would receive a total of ten GRO. One GRO would be given to each of the top 100-900 people. 0.1 GRD will be given to the remaining 900-3207.

The post Growth DeFi Ecosystem Lands on Avalanche Network and Goes Cross Chain appeared first on Cryptoknowmics-Crypto News and Media Platform.

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Decentralized Finance, or DeFi, allows millions of new people to borrow, lend, trade, save and do more without the approval of firms whose interests may differ from those of its consumers or purchasers. In terms of both users and total value, the DeFi sector is constantly rising. However, this could have ramifications for the fintech business. 

DeFi members may keep complete control of their assets while still having access to financial products and platforms that offer considerable benefits over their competitors. DeFi users make the majority of decisions, such as trading on a decentralized exchange, lending money through liquidity pools, holding assets using private keys, and purchasing tokens, among others. 

CoinGecko reports, DeFi has only 5% of the crypto market, but it has seen impressive growth recently. Till June 2021, the crypto market has $93 billion in DeFi assets, up from $4 billion just three years before. And with projects like Growth DeFi, the DeFi industry has many more milestones to achieve. To build a sustainable environment, the Growth Defi ecosystem makes use of a variety of assets. This allows customers to diversify their risk and generate one or more revenue streams from their investments. Let’s try to get a clear idea about this and its Cross Chain expansion on the Avalanche Network. 

What is Growth DeFi?

Growth DeFi is a decentralized ecosystem that combines a variety of products to focus on capital efficiency and maximizing returns. The goal is to maximize token holder value while maintaining market-leading yields and products. The Growth DeFi ecosystem is made up of multiple chains.

GRO is the prime token of the ecosystem, it has governance authority over Growth DeFi’s ecosystem, is deflationary, and partial revenue from all Growth DeFi products is allocated to GRO token holders.

gROOT is a token that is directly tied to DeFi’s performance in BSC by accumulating a treasury of yield farming positions in several protocols such as Pancake Swap, Auto Farm, and Venus.

The WHEAT token is used to encourage the GrowthDeFi ecosystem’s products. In exchange, a considerable percentage of the money is allocated to buybacks and burns, with the ultimate goal of deflationizing WHEAT.

Growth DeFi just stated that it is switching to a Cross-Chain model. And these are the justifications they gave:

  • The cost of transactions is lowered.
  • Transactions that are executed in a shorter amount of time
  • TVL and composability for other chains and L2 solutions are on the rise in 2021.
  • A bigger market to which you can cater
  • Higher overall yields can be achieved by combining chances from multiple chains.
  • MOR & WHEAT turning Cross-Chain on Avalanche

    The Avalanche network will receive the Growth DeFi ecosystem ($GRO, $WHEAT, and MOR, including the MOR and WHEAT protocols) in October. After a thorough examination of their cross-chain expansion options, the team believes the network is ideal for them to move into. They’re already developing alliances and ties with projects and the ecosystem to guarantee that the launch is a tremendous success for AVAX users, and we’re enthusiastic about the potential of offering even more upgrades and improvements to their products to assist consumers to get the most out of the market.

    Wheat UI Update

    They hired the same designer to revamp the WHEAT site as well (along with the main Growth UI), for what they did for MOR’s website. After the governance portal is finished and govGRO is ready to be added as a pool, this will be displayed.

    Airdrop for GRO and xJOE holders

    As previously said, the xJOE holders base will be snapshotted, and the platform will airdrop GRO to around 3207 xJOE holders.

  • The airdrop’s total value equals 0.77 percent of GRO’s circulating supply, and:
  • The top 100 people would receive a total of ten GRO.
  • One GRO would be given to each of the top 100-900 people.
  • 0.1 GRD will be given to the remaining 900-3207.
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    Source: https://www.cryptoknowmics.com/news/growth-defi-ecosystem-lands-on-avalanche-network-and-goes-cross-chain/

    Blockchain

    MATIC Price Analysis: Weekly and 4 Hr Chart Analyses Reveals Buy Signal for Polygon

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    Polygon recently set a new record for highest bounty paid in DeFi. The team at Polygon paid a two million US dollar worth of bounty to Gerhard Wagner, a white hat hacker who discovered a crucial vulnerability that had put around 850 million US dollars’ worth of capital at risk.

    So what type of vulnerability could this be? Well, it’s a double-spend bug, a type of bug that could have tuned catastrophic for the Polygon ecosystem.

    Bullish/Bearish Scenario

    • The bear-trap candlestick formation on the weekly time frame, alongside the buildup of bullish divergence on the 4HR time frame, shows that the bulls are back in control.
    • A breakdown of the 1.152 support implies a bearish takeover.

    Important Weekly Polygon (MATIC) Announcements

    • Immunefi, a bug bounty, and security platform acknowledged that the bounty is the highest that has been paid in decentralized finance [DeFi].
    • Another exciting announcement in the Polygon ecosystem is the PECO-Polygon Ecosystem Index, which makes it possible for participants to bet on the performance of Polygon [MATIC] projects. The PECO Index is a single token that captures the best native projects on @xPolygon.

    Without any further delay, Let’s analyze the MATICUSDT price chart.

    Polygon (MATIC) Price Analysis:  MATICUSDT Weekly Chart 

    Following the path of most top altcoins in the cryptocurrency market, the MATICUSDT triggers a bear-trap candlestick formation while trading within a rising and expanding wedge.

    Although the crypto pair still trades below its all-time high, higher RSI readings above level-25 tell us that we are still in an uptrend and we may soon see a surge in demand for the MATIC token.

    Polygon (MATIC) Price Analysis:  MATICUSDT Daily Chart 

    A recent regular bearish divergence on the daily chart above shows that we may soon see a slowing and possible correction of current gains.

    Failure of RSI values to breach below level-25 would suggest a continuation of the current uptrend.

    Polygon (MATIC) Price Analysis:  MATICUSDT 4 Hr Chart 

    As the RSI prints higher values above level-25 on the daily time frame, the 4HR time frame confirms entry into the uptrend with an exit of the oversold area [level-25] with the recent entry of oversold at press time.

    Regular and hidden bullish divergence setups are instrumental for the previous trend reversal and current trend continuation we see on the above intraday chart.

    An impending hidden bullish divergence at press time may be sufficient for the bulls to find a price floor above the 1.491 support and restore the MATIC price into new highs.

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    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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    Source: https://coingape.com/polygon-matic-price-analysis-intraday-hidden-bullish-divergence-signals-trend-continuation-for-maticusdt/

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    Blockchain

    Harmony’s ONE Token Targets $1 After Breaking All-Time High

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    You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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    Source: https://cryptobriefing.com/harmonys-one-token-targets-1-after-breaking-all-time-high/?utm_source=main_feed&utm_medium=rss

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    Blockchain

    NEAR Announces $800M in Development Grants

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    The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

    You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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    Source: https://cryptobriefing.com/near-announces-800m-in-development-grants/?utm_source=main_feed&utm_medium=rss

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