Step Out of Ethereum, Try These 2 New DeFi on Tezos & NEAR!

2021-06-11 09:50:00 · 1445 views · 4 min read

 

Ethereum has long dominated the DeFi sector, coming along with scalability problems. Any other DeFi to try on the blockchains except for Ethereum? Of course. Let’s meet up with the 2 new DeFi added on dapp.com this week, see if there are opportunities!


 

 

Kolibri Finance - MakerDAO on Tezos

 

Kolibri Finance provides a Tezos based soft pegged USD-stable value asset kUSD, working similarly as MakerDAO’s DAI. It’s one of the most popular DeFi projects on Tezos, with $1M+ worth of kUSD supply according to the Kolibri Metric.

 

 

Then how to mint kUSD? How to earn with this stablecoin on Tezos? There are 2 main features of Kolibri Finance:

 

 

Oven

The protocol is built on Collateralized Debt Positions (CDPs) named “Oven” to collateralize the algorithmic stablecoin, kUSD. 

Each Oven has four functions:

  • Deposit: Place XTZ (the native token on Tezos) into the Oven

  • Withdraw: Remove XTZ from the Oven

  • Borrow: Borrow kUSD against the Oven using XTZ as collateral

  • Repay: Repay kUSD that was borrowed against the Oven.

 

 

If an Oven drops below the collateralization ratio, then it is said to be under collateralized. Oven owners should take care to keep their position above the collateralization ratio, by either locking more XTZ or repaying kUSD when the collateralization ratio drops.

 

 

A stability fee is applied to borrowed kUSD, accrued in terms of kUSD and calculated on a 60-second basis. 

 

 

Liquidity Pool

Kolibri Liquidity Pool is a shared pool where users contribute funds in order to liquidate under-collateralized ovens.

You deposit kUSD tokens in the pool and receive QLkUSD (Quipuswap Liquidating kUSD) tokens in return. The QLkUSD tokens are like the certificates that allow you to claim the original amount of kUSD tokens you deposit, plus any additional kUSD tokens earned from liquidating ovens. QLkUSD tokens are liquid and can be tradable to other users or used in other applications. 

 

 

You may return your QLkUSD token to the pool and receive the associated kUSD at any time.

 

 

Kolibri Finance has experienced a tremendous 1011.61% increase in volume in the past 90 days.

So do the active users and transactions of Kolitri Finance. The 90d users went up 46.79%, and the 90d transactions went up 241.30%. 


 

 

Pulse - Prediction Market on NEAR

 

If you love predicting outcomes, or even trade with your prediction, try Pulse on the NEAR Protocol.

 

 

Here below is a simple explanation about Pulse by NEAR supporters on Twitter so you can get a brief acknowledgement.

What is market prediction? Last year, we introduced FTX’s prediction market for the US Presidential Election. You predict the result of a future event. Simple question with only 2 opposite answers. If your prediction is correct, then you’ll win the other side’s money!

For example, in Pulse, there are various types of predictions going on at present: Stocks, Esports, Memes, Politics, Viral, Crypto, Sports and Startups. Will France win against Germany on June 15th? You can put your nDAI in and make a prediction. 

 

 

How’s Pulse’s on-chain performance? Check the dashboards below.

The 90d Unique Trader Amount, which represents the number of unique users who trade in Pulse’s prediction market, sharply increased by 7705.36%. The 90d Dex Trading Volume increased by 368.05%, and the 90d Trade Count increased by 2170.04%. All the on-chain data broke the ATH in April 2021.


 

 

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