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What our analysts are rambling about 🔍
Bluejay Finance
Bluejay Finance, a decentralized stablecoin platform, is now live on the Rinkeby testnet. The protocol plans to issue pegged stablecoins that are backed by the protocol's liquidity through a bonding mechanism. For example, using DAI or LP tokens, users can purchase bonds for the native token, BLU, at a discounted price.
Their first stablecoin, bluSGD, which is pegged to Singaporean dollars, is slated to be launched in Q4 2022. But for now, you can play around with the protocol's features for a chance to be whitelisted for the actual token launch in the future.
Curve Stablecoin?
After years of watching from the sidelines as a stablecoin AMM, Curve (CRV) is finally jumping feet-first into the stablecoin mix!
During Redefine Tomorrow 2022, a virtual Defi summit, Egorov confirmed that Curve will be launching their own over-collateralized stablecoin. Details are sparse for now but at least now we can see the Curve ball coming.
SushiXSwap AMM
SushiSwap, the decentralized exchange, has launched its latest product in the form of SushiXSwap. It is a cross-chain AMM built on Stargate and leveraging LayerZero technology. With it, users are able to bridge and trade tokens with just a few clicks from one platform. For example, you will be able to trade ETH you have on Ethereum, for USDC on Optimism.
Chains that are supported at the moment are Ethereum, Optimism, Fantom, Arbitrum, Avalanche, BNB Chain, and Polygon. More chains are expected to be added in the near future.
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Win Win is an avid gamer, interested in navigating the vast world of NFTs and the cryptoverse. Follow the author on Twitter @0x5uff3r