Blockchain
Swarm Markets expands licensed DeFi to Polygon Network
Swarm Markets GmbH, the first licensed decentralized finance (DeFi) platform, announces its decentralized exchange (DEX) is now available on the Polygon Network. Trading on Polygon is a lower-cost option for users of the BaFin-regulated DEX and its existing Ethereum-based products. Swarm Markets is the first licensed automated market maker (AMM) protocol available on the layer 2 solution.
The Polygon implementation effectively removes network fees from consideration for users because it costs just a few cents per transaction, as opposed to Ethereum fees, which regularly top $100 USD per transaction. Transacting on Polygon will allow investors to swap in and out of positions more actively to better respond to market volatility.
Swarm Markets joins an industry trend to offer alternatives to Ethereum’s rising network fee, alongside DEX Uniswap, NFT platform OpenSea, and metaverse market leader Decentraland who all added support for layer 2 solutions within the last year.
Philipp Pieper, co-founder of Swarm Markets, said: “Access to DeFi needs to be at a price point that isn’t cost prohibitive to Main Street investors, which is why expanding our licensed AMM to layer 2 solutions is crucial. Web3 is coming for financial markets and we’re building trustless infrastructure that gives people autonomy to build wealth while retaining control of their assets at all times.”
Swarm Markets’ native token SMT has already been ported to the Polygon blockchain, extending the DeFi platform’s incentive and reward system onto the new chain. Users will get discounts on platform fees if they pay with SMT as well as earn rewards for trading and providing liquidity to swap pools.
MATIC, Polygon’s native token, is among the new assets added to Swarm Markets along with a MATIC faucet, where verified users will receive a one-time transfer of enough MATIC to pay for 5-6 transactions directly from Swarm Markets. A blockchain bridge within the platform UI will help investors move assets seamlessly from Ethereum to Polygon to take advantage of the low-fee pools.
“DeFi promises to drive innovation that simply isn’t possible in traditional finance, bring services to the unbanked and give regular people access to wealth management tools currently only available to elite institutions,” said Sandeep Naiwal, Polygon’s co-founder. He added, “As part of that mission, we are very excited to support Swarm Markets in their scaling efforts.”
Swarm Markets’ newly announced SX1411 token standard is also compatible with Polygon, along with other EVM-compatible blockchains. SX1411 is a highly adaptable framework for managing asset tokens. The new standard allows Swarm Markets to support tokens backed by underlying assets whether “off-chain,” such as certain regulated securities, or “on-chain,” like NFTs.
Timo Lehes, co-founder of Swarm Markets, said: “We’re creating infrastructure, products and services that preserve the innovation of DeFi combined with the reassurance of regulation. We are driving growth of the entire DeFi ecosystem by implementing low-fee layer 2 solutions and bringing traditional financial products on-chain, like securities, to better serve consumers.”
Last month, Swarm Markets announced a partnership with German bank Volksbank Mittweida to digitize bonds on the Polygon blockchain. The registered bonds are some of the first regulated securities to be issued on Polygon.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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