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.
Blockchain
Blocks & Headlines: Today in Blockchain (Chainlink Labs, BlackRock, Fidelity, Dynamite Blockchain)
Exploring the Frontlines of Blockchain Innovation and Adoption
The blockchain industry continues to shape the future of finance, governance, and technology. Today’s briefing covers a range of key developments, from Australia’s crypto crackdown to Chainlink Labs’ expansion, Nevada’s innovative blockchain-driven electoral security, and updates on institutional Bitcoin adoption.
Australia’s Crypto Shakeup: A Looming Exodus for Blockchain Startups?
Australia’s blockchain and crypto sectors face a tumultuous period as nearly 30% of the country’s crypto-related businesses are projected to close operations by 2024. This decline follows increased regulatory scrutiny and diminishing investor confidence, as outlined in a report by KPMG.
The tightening regulatory environment has fueled debates about whether these measures protect consumers or hinder innovation. Advocates argue that clear regulations are crucial for building trust and stability in blockchain ecosystems, while critics fear they might stifle entrepreneurial spirit in the country.
This development could serve as a cautionary tale for other nations walking the fine line between fostering innovation and enforcing compliance.
Source: Cointelegraph
Breaking Down Institutional Bitcoin Adoption
Institutional adoption of Bitcoin is on the rise, marking a significant milestone for blockchain’s integration into mainstream finance. A new report reveals how companies are leveraging Bitcoin as a reserve asset, while financial giants explore Bitcoin-backed investment products to attract both retail and institutional clients.
While adoption is accelerating, barriers remain. Regulatory uncertainty, volatility, and infrastructure gaps hinder broader integration. However, with asset managers like BlackRock and Fidelity increasingly embracing Bitcoin ETFs, institutional interest appears to be solidifying the cryptocurrency’s position as “digital gold.”
This trend signifies blockchain technology’s growing legitimacy in traditional financial systems, offering a pathway for further innovation and integration.
Source: Bitcoinist
Nevada Implements Blockchain for Election Security
In a pioneering move, Nevada has integrated blockchain technology to enhance electoral security and prevent fraud. This development comes in response to a 2020 incident involving fraudulent electors, with blockchain now being used to verify the authenticity of electoral certificates and records.
The immutable and transparent nature of blockchain ensures tamper-proof data integrity, making it an ideal solution for secure electoral processes. Nevada’s initiative could serve as a model for other states and countries grappling with election integrity issues.
By leveraging blockchain for governance, Nevada showcases how this technology can go beyond finance to address critical societal challenges.
Source: 8 News Now
Dynamite Blockchain Rebrands and Charts a New Path
Dynamite Blockchain has announced a strategic rebranding initiative to align its corporate vision with emerging trends in decentralized finance (DeFi), non-fungible tokens (NFTs), and enterprise solutions. The rebranding effort includes an updated logo, a new corporate mission, and a pivot toward offering scalable blockchain solutions for businesses.
The company’s refreshed focus aims to position Dynamite Blockchain as a leader in enterprise blockchain adoption, helping organizations integrate decentralized solutions seamlessly into their existing frameworks.
This rebranding underscores the importance of adaptability in the rapidly evolving blockchain space, where staying relevant often means redefining one’s identity.
Source: GlobeNewswire
Chainlink Labs Expands to Abu Dhabi Global Market (ADGM)
Chainlink Labs, the developer of the blockchain oracle network Chainlink, has established a new presence in the Abu Dhabi Global Market (ADGM). This strategic expansion aims to tap into the Middle East’s growing blockchain ecosystem and foster collaborations with financial institutions in the region.
By entering ADGM, Chainlink Labs signals its intent to advance blockchain-powered financial solutions, with a focus on enhancing smart contract utility and adoption. The move also underscores the region’s increasing role as a hub for blockchain innovation.
This expansion reinforces Chainlink’s position as a key player in bridging on-chain and off-chain systems, further enabling the growth of decentralized applications worldwide.
Source: PR Newswire
Emerging Trends and Insights
- Regulatory Challenges: Australia’s crypto downturn reflects the broader tension between innovation and regulation, offering lessons for global blockchain players.
- Institutional Momentum: The rising adoption of Bitcoin by financial giants suggests a pivotal shift in the role of cryptocurrencies in traditional markets.
- Blockchain Beyond Finance: Nevada’s electoral security innovation highlights blockchain’s potential to address societal issues beyond financial services.
- Corporate Evolution: Dynamite Blockchain’s rebranding illustrates the industry’s emphasis on staying agile and forward-looking.
- Global Expansion: Chainlink Labs’ move into ADGM underscores the Middle East’s emergence as a critical blockchain innovation hub.
Key Takeaways
- Blockchain’s application in governance and security, as seen in Nevada, demonstrates its potential for societal transformation.
- Institutional adoption of Bitcoin is solidifying its status as a mainstream financial asset, even amid regulatory hurdles.
- Strategic rebranding efforts, such as Dynamite Blockchain’s, reflect the dynamic nature of the blockchain industry.
- Expansions into regions like the Middle East signal blockchain companies’ focus on tapping into emerging markets.
The post Blocks & Headlines: Today in Blockchain (Chainlink Labs, BlackRock, Fidelity, Dynamite Blockchain) appeared first on News, Events, Advertising Options.
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