10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Dencentralized Lending Platforms TezFin (Tezos Finance) And Yupana.Finance Both Launch On Tezos Mainnet

Decentralized lending platforms TezFin (Tezos Finance) and Yupana.Finance both launch on Tezos mainnet.

With Kord.Fi (a lending platform for liquidity baking) also launching recently it means Tezos has gone from zero to three lending platforms in just one month.

Disclaimer

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Read our full disclaimer here.

TezFin (Tezos Finance) And Yupana.Finance Launch On Tezos Mainnet

Decentralized lending platforms TezFin (Tezos Finance) and Yupana.Finance both launch on Tezos mainnet.

With Kord.Fi (a lending platform for liquidity baking) also launching recently it means Tezos has gone from zero to three lending platforms in just one month.

Yupana Finance

Yupana was tested extensively by Madfish developers with the entire community’s help and has already launched on the Tezos mainnet. 

So, now anyone can interact with lending protocol’s tools inside the Tezos world, taking advantage of the decentralized money market protocols.

Using Yupana, lenders provide liquidity and receive passive income, while borrowers take over collateralized loans.

In turn, liquidators are incentivized to close insufficient collateral positions to keep the platform running.

“We’ve worked hard to provide a full-fledged liquidity protocol and I hope that users will enjoy a new level of experience inside the Tezos DeFi ecosystem, which has now become complete and comprehensive,”

– Sophia Gorban, the Yupana.Finance product owner

For now, Yupana supports the following assets: TEZ, cTEZ, kUSD, tzBTC, uUSD, and uBTC. 

TheAPY will be determined by the market demand for the corresponding asset.

How to Start:

For experienced users, exploring Yupana.Finance provides a similar experience to Aave or Compound with a convenient UI.

You may find a more detailed review of how Yupana works and advice on how to get started with it in the guide.

For anyone wanting to use Yupana.Finance they can use this link here.

TezFin (Tezos Finance)

TezFin (Tezos Finance) launched on Tezos mainnet on August 16th, 12am Eastern Time.

TezFin is a lending platform, where users can both lend and borrow tokens in a decentralized manner.

This means that you don’t need a third party to mediate and enable you to lend or borrow.

In this case, it’s the smart contracts that are deployed on the blockchain that fulfill the function of that third party.

By supplying tokens, you can earn interest on tokens you own. The percentage that you can earn varies throughout the lending period. It depends on supply and demand.

On the other end, if you borrow tokens, you will pay interest. You can only borrow, if you supply collateral. The collateral value needs to remain above a minimum level, if not, liquidation will take place.

It is advised uses fully understand the risks before taking out a loan. More info on this here from TezFin.

The reason for users to borrow tokens, is in an attempt to profit from price increases of both tokens, profit from staking possibilities of the borrowed token, or to utilize/trade in other DeFi applications. 

The first tokens that are listed on the platform are XTZ, USDtz, ETHtz an BTCtz.

The TezFin team announced that in the near future, the following additional tokens will be listed: CTez, WTZ, oXTZ, tzBTC, EURL, USDT and SIRS.

TezFin was tested by the community on testnet, but not audited yet.

We must emphasize that although this represents a milestone step, the code is early and without a formal audit. Please do not deposit more than you are comfortable losing. The earliest point of any new code deployment is its riskiest time.”

Disclaimer

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Read our full disclaimer here.

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

Hidden
Hidden
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Banner Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Image
Accepted file types: pdf, doc, docx, Max. file size: 128 MB.
Submit Article: Suitable Formats = PDF, WORD
By Uploading an article, you are accepting all to all copyright and information that is to the best of your knowledge true and accurate.
Agree(Required)

Other News

View More

Werenode: Fusing Blockchain Brilliance with EV Charging Innovation

As electric vehicles (EVs) become more prevalent, Werenode is leading the charge by revolutionizing the EV charging infrastructure through blockchain technology. By leveraging Tezos and Binance blockchain technology, Werenode aims to simplify the EV charging process, ensuring secure, transparent, and immutable transactions. Their approach tackles key challenges in the industry, such as network fragmentation, interoperability, and complex payment systems.

Read More

Tezos Community Prepares for Launch of tzBTC 2.0 on May 27th

The Tezos ecosystem is gearing up for the anticipated launch of tzBTC 2.0 on Monday, May 27, 2024, at 12:00 pm UTC. This development follows a successful keyholder session, where all necessary signatures were obtained, and backup flows were tested.

Read More

Updated Tezos Wallet App for Ledger Devices Introduces Enhanced Features

The Tezos wallet app for Ledger devices has been updated to version 3.0.3, introducing several significant enhancements that streamline the user experience and increase transaction security. This latest update offers important improvements designed to facilitate safer and more efficient interactions with the Tezos blockchain.

Read More