The cryptocurrency market started the week in rest mode, except for some altcoin projects. Although the leading cryptocurrency Bitcoin took a break from its rise, it managed to maintain its height. In this environment, some projects of interest to Turkish crypto investors, including Polkadot, made important announcements.
There is important news from Polkadot, Celestia, PancakeSwap and Uniswap…
PancakeSwap adds joint portfolio manager functionality with Bril
Decentralized crypto exchange PancakeSwap now has portfolio manager functionality, according to an announcement today. It added this feature in partnership with decentralized finance (DeFi) protocol Bril Finance. The new feature allows PancakeSwap users to deposit tokens into single-asset vaults through the exchange’s user interface. Once tokens are deposited, they enter a liquidity provision algorithm with automatic rebalancing. PancakeSwap and Bril development teams claim that this system will enable users to achieve higher risk-adjusted returns compared to other methods.
According to the announcement, it is now possible for users to deposit cryptocurrencies such as Tether, Bitcoin, BNB and Ethereum. The teams claim that the protocol has already produced an internal rate of return (IRR) of over 24% in tests. IRR is a metric that measures the compound annual growth rate for a project. During the first four weeks of the feature’s launch, additional rewards of PancakeSwap (CAKE), the exchange’s governance token, will also be provided to users. The announcement stated that PancakeSwap will be the only interface that provides users with access to Bril’s portfolio management system at launch.
Uniswap community votes to invest in Ekubo Protocol
The Uniswap community has taken a significant step towards promoting collaboration and decentralization in the DeFi space. Accordingly, he accepted the “Invest in Ekubo Protocol” temperature control proposal. The community accepted the proposal with an impressive 63.82 votes. This decision demonstrates the community’s commitment to expanding the Uniswap ecosystem. According to the proposal, Uniswap will deposit 3 million UNI, equivalent to approximately $12 million, into the Starknet AMM Ekubo Protocol. In return, Uniswap will receive a 20% share of governance tokens from Ekubo Protocol.
In particular, Ekubo Protocol founder Moody Salem has a strong history with Uniswap. He previously served as the engineering lead of the Uniswap team. He also made significant contributions to Uniswap’s initial codebase. This connection between Uniswap and Ekubo Protocol adds a layer of familiarity and trust to this strategic investment. Ekubo Protocol 13, a decentralized automatic market maker (AMM) operating on the Starknet platform, stands out with its singleton design, super concentrated liquidity model and extension support. Since its launch, Ekubo Protocol has captured approximately 75% of the total volume traded on Starknet, despite having only 5% of the total value locked (TVL) and no exchange interface.
Polkadot introduces Staking Dashboard 1.1 with MetaMask compatibility
Polkadot (DOT), a leading player in the blockchain and cryptocurrency world, recently announced an impressive upgrade to its ecosystem with the release of Staking Dashboard 1.1. This important development will increase Polkadot stakers’ access to staking. It also promises to offer more advanced tools and features for them. This release was introduced by Ross Bulat, an engineer responsible for developing Polkadot (DOT) at Parity Technologies. The cryptocurrency community was eagerly awaiting the release.
In a series of tweets, Ross Bulat informed Polkadot enthusiasts about the new Staking Dashboard. In this context, Bulat shared the key features and improvements that users can expect. This upgrade is hugely important for Polkadot stakers and the broader crypto ecosystem.
Celestia is debuting main-net tomorrow!
Celestia, a groundbreaking project in the blockchain industry, is preparing to launch the main-net tomorrow. With its mainnet launch, Celestia’s native token known as TIA sent waves of excitement throughout the crypto community. Thus, it will become available for trading on several central exchanges.
Meanwhile, cryptokoin.com As we reported, centralized exchanges, including industry giants such as KuCoin and Bybit, have announced plans to initiate trading for Celestia’s TIA tokens. According to the statements, trading will start approximately at 10 am CET. Both platforms stated that they will open trading in TIA/USDT parity. Thus, they noted that they will provide traders and investors with access to the new crypto asset.
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