Launch of Linear Finance and UniLend Finance on Moonriver. What awaits us after the launch of Moonbeam. Why will there be even more projects?
As we expected, there is a rapid expansion and development of the DeFi system on Moonriver in the Kusama network. Many projects launched on Ether, Binance smartchain, Polygon, and other chains will be launched on the Kusama and Polkadot networks using Moonriver/Moonbeam. It makes no sense for such projects to compete for a slot at the parachain auction, since it will require significant funds, but launching via Moonriver/Moonbeam will make it easy to transfer smart contracts and add another network to the project. The more such networks these DeFi projects will eventually have, the closer the Multichain future will become, the easier it will be for users to use the protocol and the more opportunities it can provide them. We will soon see the same process of launching projects on Moonbeam. I think even more projects will want to join the Polkadot network, due to the fact that Kusama was originally planned as a canary-experimental Polkadot network. Although now we see that it has grown into a separate, full-fledged network. But still, the financial market is quite conservative and although the Kusama network is safe and we don’t hear about hacking, investors and projects know that Polkadot is the crown of quality and safety from Parity and trust in it is still higher. Therefore, I think the development of Moonbeam will be even more rapid than Moonriver.
I insert here parts of articles about the launch of Linear Finance and UniLend Finance on Moonriver.
Linear Finance The community-driven protocol announces the launch on Moonriver of Linear Finance Linear Finance — a decentralized asset protocol designed for cross-chain compatibility that allows users to obtain synthetic information about various assets, including cryptocurrencies, commodities, and market indices. Users can use the cross-chain exchange feature to instantly exchange assets in leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage. Why Moonriver/Moonbeam? From the very beginning, the team wanted to build on Kusama and Polkadot. The question was, through which parachain? And after doing some careful research, it became obvious that there was only one option for us: Moonriver / Moonbeam. There are many reasons for our decision: compatibility with Ethereum, an innovative and fast-growing network, a complete set of developer tools, among many others. Most importantly, we believe in the team and their tireless efforts. Unsurprisingly, Moonriver is one of the most active DeFi ecosystems on the Kusama network, and we are proud to embark on this journey with our partners at Moonriver.
UniLend will be launched on Moonriver as the first protocol for providing FLash loans in the Kusama ecosystem.
UniLend Finance, a permissionless lending and borrowing protocol with a vision of how to make all digital assets productive, truly believes in the idea of multichain. The key to decentralization is interoperability, and UniLend Finance has always supported this concept. As part of the UniLend DeFi multi-chain program, we have announced our entry into the Polkadot ecosystem. We have successfully launched our UniLend V1 on the 3 most common blockchains, Ethereum, Binance Smart Chain and Polygon. We’ve always had Polkadot in the spotlight because of their tremendous hard work building the next generation of interoperable blockchain networks. With this in mind, UniLend Finance is pleased to announce its integration on Moonriver. Moonriver has the most powerful EVM-compatible smart contract platform on the Kusama network, which allows you to easily create natively compatible decentralized applications. Moonriver’s unmatched Ethereum compatibility has enabled the network to support expansion to Kusama by more than 60 projects, becoming the most active blockchain with 10M + transactions and 352K + wallets. Additionally, using Moonriver technology, developers can deploy existing Solidity smart contracts on Kusama. Recently, daily transactions on the Moonriver network crossed the 400k+mark. UniLend Finance has already reached a flash loan volume of US $ 30 million in a short time with 25+ tokens provided on our Platform. Users can use Flash Credits by interacting with our Smart Contract. Blockchain projects use this service with the help of the uBoost dapp, which is a UniLend grant project, to bring their token to the market on DEXs at a very low price.
Launch on Moonriver
To begin integration, UniLend V1 will be launched on Moonriver as the first ever flash credit service in Kusama. Moonriver is a blockchain on the Kusama network that completed its launch in August of this year, while Moonbeam will begin the launch process on Polkadot later this month. Moonriver is a sister network of Moonbeam, which provides an Ether-compatible environment on Kusama, for testing in real-world economic conditions. This means that developers have access to Moonriver to start creating, experimenting, and running apps on the Kusama network. “It gives me great pleasure to extend the unlimited growth of DeFi UniLend to the most widely distributed parachain network — the Kusama network. We will be rolling out our UniLend v1, which will be the first flash credit provider on the Kusama network. This partnership also masks UniLend’s entry into PolkaDot’s most anticipated blockchain network” ‘ Chandresh Aharwar, Co-founder and CEO of UniLend Finance. ‘Credit and loan use cases are the foundation of the DeFi ecosystem development, but until recently, the lack of the necessary infrastructure made it impossible to deploy these use cases in Moonriver,” said Derek Yu, founder of Moonbeam. ‘UniLend is helping to fill this newly opened space with its unique approach and cost-effective operations. We are thrilled to welcome UniLend to the Moonriver ecosystem”’- Derek Yu, Founder and CEO of Moonbeam.
Links to originals:
Linear Finance Announces Chaotic: a Community-driven delta-one asset protocol on Moonriver
Read the announcement: https://medium.com/linear-finance/introducing-chaotic-c63d71d37125
UniLend Finance Launches Lending & Borrowing Protocol on Moonriver
Read the announcement: https://unilend.medium.com/unilend-finance-will-be-launching-lending-borrowing-protocol-on-moonriver-ed1708233009
Site — https://moonbeam.network/
Twitter — https://moonbeam.network/
Telegram — https://t.me/Moonbeam_Official
Discord — https://discord.com/invite/PfpUATX
Medium — https://medium.com/moonbeam-network