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Chainlink Weekly Roundup: Lekker Finance, Gunther’s Rich Dog, BiggerMINDS, PLEXUS
March 19, 2023
MINS
Dominant smart contract oracle network Chainlink partnered with DeFi protocols on Ethereum and Avalanche, an NFT collection based on a Netflix series and an emerging cross-chain swap.
DeFi Derivatives, NFTs, Avalanche Rewards, Cross-Chain Swaps
Bull, bear or crab market, Chainlink continues to build relationships throughout the Web3 space. This week, crypto’s dominant smart contract oracle network announced partnerships with a Decentralized Finance (DeFi) derivatives protocol on Ethereum, an NFT collection based on a Netflix series, a DeFi platform on Avalanche and a cross-chain token exchange.
In this week’s roundup:
- Lekker Finance joins Chainlink BUILD.
- Gunther’s Rich Dog NFT Collection integrates Verifiable Random Function (VRF).
- BiggerMINDS integrates Automation.
- PLEXUS integrates Price Feeds.
Lekker Joins BUILD
Lekker Finnace has joined the Chainlink BUILD Program to accelerate adoption of the upcoming leveraged trading platform on Ethereum.
“We’re thrilled to join Chainlink BUILD, which will help drive the adoption of our leveraged trading protocol. Chainlink services are essential for building a DeFi protocol, and we look forward to continued collaboration with the Chainlink ecosystem,” Lekker Co-Founder Peter Prado said. “Ultimately, we aim to develop a protocol that makes it easy to get access to leverage in DeFi. On top of that, our products are composable which makes them ideal tools for risk management.”
Lekker enables users to take leveraged positions using liquidity from other DeFi protocols, creating “a new type of DeFi derivative,” according to its website.
As part of BUILD, Lekker will receive access to new Chainlink product alpha and beta releases, dedicated technical support from the Chainlink ecosystem, and more.
In return, Lekker has committed 4% of its total token supply to Chainlink service providers, including stakers.
Gunther’s Rich Dog NFT Collection
The Gunther’s Rich Dog Non-Fungible Token (NFT) collection is integrating Chainlink VRF to support the launch of the Ethereum collection based on the Netflix series Gunther’s Millions.
“The Richest Dog in the World’s Collection gives fans and collectors the opportunity to access exclusive experiences across the globe with the cast and crew behind the show, ranging from AMAs to a weekend on Gunther’s yacht in Italy,” Chainlink tweeted.
The Gunther’s Rich Dog NFTs are assigned one of four rarity levels to unlock rewards. Chainlink VRF helps ensure each rarity tier is randomly assigned and the NFTs are provably rare.
BiggerMINDS Integrates Automation
DeFi platform BiggerMINDS has integrated Chainlink Automation on the Avalanche mainnet, in order to help update and distribute dynamic rewards to users.
“We’re excited to be using the industry-leading oracle network. Chainlink Automation is critical for helping create a consistent, reliable, and scalable rewards mechanism,” BiggerMINDS Founder and CEO Joma said.
The BiggerMINDS platform includes a utility token, NFTs and NFT marketplace. Dynamic rewards are calculated daily based on the performance of MIND+. Automation helps execute the daily reward calculation and trigger the distribution mechanism.
Cross-Chain Exchange
The PLEXUS cross-chain Decentralized Exchange (DEX) has integrated Chainlink Price Feeds to support swaps across networks including Ethereum, BNB Chain, Polygon, Fantom and others planned in the near future.
“By integrating, PLEXUS has access to high-quality, tamper-proof price feeds needed to stabilize price impact calculations in PLEXUS cross-chain swaps,” PLEXUS tweeted.
Last four weekly Chainlink Roundups:
- March 12: LendeXe, Planet IX, Sneaky Vampire Syndicate
- March 5: Base, Functions, Konnect, 0xCord
- Feb. 26: StarkNet, TrueUSD, Radiant, ETHDenver
- Feb. 19: LUXON, Zeta Markets, SmartCon 2023
What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
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PancakeSwap v3 Launches on BNB Chain’s Layer2 Network, opBNB
September 28, 2023
The launch of PancakeSwap v3 on opBNB promises users enhanced transaction speeds, reduced fees, and an overall improved trading experience.
On September 28, PancakeSwap Decentralized Exchange (DEX) announced the launch of PancakeSwap v3 on BNB Chain’s Layer2 network, opBNB. The announcement was made official through a post on its official X account and shared details via its blog.
According to the protocol’s blog, the new PancakeSwap v3 on opBNB promises traders and liquidity providers a host of benefits. These include the opportunity to trade with reduced fees, enjoy increased returns, and experience enhanced capital efficiency. Further, the Layer2 network ensures these advantages are delivered with high throughput and minimal gas fees.
opBNB, which powers this new integration, is built on the bedrock version of Optimism’s OP stack. It stands out as a swift Layer2 solution within the BNB Chain ecosystem.
Addressing the Layer1 Limitations
One of the significant challenges with numerous Layer1 blockchains has been handling high transaction volumes. With the introduction of opBNB on PancakeSwap, this issue is addressed.
The opBNB network boasts the capacity to handle over 4,000 Transactions Per Second (TPS). Additionally, it offers a minimal gas fee, which can go as low as $0.005. This ensures improved throughput and scalability for users.
In the words of the DEX, “PancakeSwap on opBNB offers a scalable solution; the opBNB network accommodates over 4,000 TPS and reduces gas fees to under $0.005 for transfers. Users enjoy improved throughput without sacrificing decentralization by offloading processing to Layer 2 while posting data to BNB Smart Chain.”
Expanding the DeFi Space
This recent integration marks opBNB as the sixth Layer2 network to be deployed on PancakeSwap v3. This expansion provides users with a broader range of options in the Decentralized Finance (DeFi) space.
Chef Mochi, the Head Chef of PancakeSwap, shared insights on this development, stating that the integration showcases the DEX’s dedication to promoting widespread adoption and empowering users in the cryptocurrency arena.
“By joining forces with the opBNB, PancakeSwap is pleased to bring users more accessibility and functionality than ever before. Our decision to launch on opBNB reflects our continued commitment to driving mass adoption of DeFi, empowering users, and fostering a vibrant DeFi community,” Mochi said.
The launch of PancakeSwap v3 on opBNB is a significant step forward in the DeFi space, promising users enhanced transaction speeds, reduced fees, and an overall improved trading experience.
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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