Bitcoin price increased by 3.5% and is traded at $35,600. The overall cryptocurrency market cap is currently at $1.47 trillion and Bitcoin’s dominance rate is 45.2%. Meanwhile, the cryptocurrency management fund Grayscale has included Cardano’s native token (ADA) in its wide-ranging fund. Let’s examine some interesting altcoin news together in detail for today.
1 – Firo partners with FluxOS to deploy full nodes on the Flux network
Firo has partnered with Flux to distribute all its nodes on the Flux network. According to the tweet, this will help Flux node operators earn Firo when deploying their Firo nodes. The Flux ecosystem offers a large decentralized computing network. Provides incentives for FluxNode miners and operators to speed up transactions on the FluxOS computing network. Thanks to this partnership, Firo nodes will be available on Nimbus and Stratus nodes worldwide.
Firo is a digital currency focused on setting privacy standards. As a result, Firo will use the Flux decentralized computing network to manage its infrastructure. In turn, Fluxnode operators will be able to earn FIRO on Nimbus and Stratus nodes.
2 – Demodyfi, popular altcoin Polygon announced its launch on its chain
Demodyfi announced its launch on the Polygon chain (formerly Matic). According to the tweet, this integration helps Demodyfi build a highly scalable, multi-chain AMM DEX. As mentioned, Demodyfi will implement a bridge from Moonbeam to Polygon using ChainBridge. With this bridge, users can transfer tokens between two independent chains.
Demodyfi is an automated market maker platform that offers decentralized financial services in a fully decentralized network. Meanwhile, the popular altcoin Polygon offers an Ethereum scaling framework. This means Demodyfi users can benefit from low GAS fees. The team is also working to implement Cross-Chain Message Passing (XCMP) in the near future. Also, XCMP is Polkadot’s cross-chain message forwarding protocol, allowing one parachain to send messages to another parachain. Specifically, this cross-chain messaging protocol will be integrated into a second, standalone bridge.
3 – Altcoin projectInjective Protocol, Lithium Finance collaborated with
Altcoin project Injective Protocol collaborated with Lithium Finance to launch decentralized pre-IP stock derivatives. With this coalition, Injective users can leverage Lithium’s price oracles to create new derivatives markets for private companies. Lithium Finance is a collective intelligence oracle that offers timely auctions for private, illiquid assets. Hence, this integration will improve the price discovery process for Injective users.
The team will collaboratively use Injective’s robust derivatives and Lithium’s unique on-chain bidding oracle to launch pre-IP derivatives into the DeFi industry. Also, this will increase continuity for futures trading and special market deals. Additionally, the team also has plans to bring unlimited markets to a fully decentralized ecosystem.
4 – Altcoin projectUmbrella Network, SafePal partnered with
Altcoin project Umbrella Network has partnered with SafePal to integrate UMB tokens into their wallets. With this coalition, SafePal will use Umbrella’s secure and reliable price feeds. This price feed support includes a variety of cryptocurrencies and tokenized stocks in the future.
Umbrella Network is a decentralized Tier 2 oracle platform that provides high-speed and reliable data service to the DeFi market at low cost. Therefore, Umbrella’s staking portal will support SafePal wallets. In turn, SafePal will support the UMB token in both hardware and software wallets. Also, UMB staking is now available in both ERC-20 and BEP-20 versions.
5 – IOI Game is building on Polygon Network
Our last altcoin news today includes the IOI Game, which announced that it was founded on the Polygon chain (Formerly Matic). IOI Game, called “Trade Race Manager”, is an NFT trading game. This game is centered around the play2earn model powered by decentralized finance. In addition, virtual crypto is used as fuel for all game cars. This coalition helps IOI Game use Polygon’s scaling framework and highest security with low GAS fees.
These Polygon features will help players focus on their game, which will enhance the win-win model. Specifically, IOI Game NFTs come with special skills that can generate multiple incomes for their owners. Hence, this combination will attract more gamers and revitalize the gaming industry. Cryptocoin. com, for more altcoin news “Here are the Top Winning and Losing Altcoins of the Week” You can review our article.
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