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SushiSwap ready to Launch Full Product Suite on Harmony

Sushiswap ready to Launch Full Product Suite on Harmony

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Since deploying natively on Harmony’s blockchain in May, Sushi is now deepening its collaboration with Harmony after revealing plans to bring its full decentralized finance (defi) product stack onto the blockchain with accompanying incentives designed to drive greater participation. Meanwhile, decentralized exchange (dex) competition continues to swell.

Partnership Expansion Accompanies $4 Million in Incentive Campaigns

On Thursday, Harmony, a proof-of-stake (PoS) blockchain network focused on cross-chain transactability, unveiled a decision to broaden the partnership agreement with Sushi, a community-driven defi platform offering a full stack of decentralized finance services.

After deploying Sushiswap on Harmony back in May, the freshly strengthened collaboration paves the way for Sushi to deploy the remainder of its product suite onto the effective proof-of-stake (EPoS) blockchain.

Sushiswap is the second runner-up in the space with an 11% share of dex trade volume, according to today’s Dune Analytics seven-day stats. The leading dex is Uniswap with 61% of the seven-day volume. Based on the most recent data, while Sushiswap’s seven-day volume is $2,079,972,559, Uniswap is well ahead with $10,793,064,634.

Additionally, up and coming players like Curve and 0x Native are racing to close the gap, with Curve at $1,427,401,281 seven-day volume and Ox showing $1,091,283,123 in seven-day trade volume.

Corresponding with the second anniversary of Harmony’s mainnet launch, the expanded partnership aims to strengthen the protocol’s cross-chain defi capabilities, while leveraging Harmony’s 2-second transaction speeds and low transaction costs.

The Sushi full-stack deployment will be accompanied by two incentive campaigns. This includes a $2 million liquidity mining campaign to encourage yield farming with $1 million of ONE and $1 million 1Sushi token rewards.

Kashi, a lending decentralized app (dapp) built on top of Sushi’s Bento Box, is also natively deploying on Harmony. The lending and margin trading platform will be the destination for another $2 million incentive program that will contain $1 million One and $1 million 1Sushi tokens. Bento Box, a vault for asset deposits, will not be deploying on Harmony. However, the stored assets will be accessible for dapps built on top of it.

Addressing Defi’s Deficiencies

As defi protocols seek to avoid the high costs and low throughput associated with Ethereum, the race is on to deploy on competing networks and solutions.

Sushi operates in an ocean of defi solutions and is far from the only platform making a move to new horizons, echoed by Aave and Curve’s adoption of Polygon. Sushiswap is also on Polygon, highlighting the platform’s rapid adoption.

Polkadot is also attracting defi’s attention as an alternative to the scalability and cost limitations of Ethereum. Acala, which aims to be the Ethereum-compatible defi hub on Polkadot, has seen its own Karura platform win the first parachain auction on Kusama, Polkadot’s canary network, potentially shifting the ultra-competitive defi landscape in yet another direction.

With the costs and difficulties of switching between blockchain networks continuing to fall, it remains to be seen whether Ethereum’s upcoming shift to proof-of-stake will be able to stave off the migration of platforms seeking better conditions elsewhere.

Source Credits: Bitcoin.com

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GameStop hints at future Bitcoin purchases following board approval

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GameStop is exploring the possibility of adding Bitcoin to its balance sheet, but any future purchases will require approval from the company’s board of directors. The move signals the gaming retailer’s continued interest in digital assets as it seeks to diversify its financial strategy.

The potential Bitcoin investment aligns with GameStop’s previous forays into the crypto space, including its NFT marketplace and blockchain gaming initiatives. However, the company has not yet committed to a specific timeline or amount for Bitcoin purchases.

Industry analysts suggest that if GameStop proceeds with Bitcoin acquisitions, it could follow in the footsteps of other publicly traded companies, such as MicroStrategy, that have adopted Bitcoin as a reserve asset. The decision could also serve as a signal to retail and institutional investors about GameStop’s long-term outlook on digital assets.

As the company awaits board approval, the broader market will be watching closely to see if GameStop makes a decisive move into Bitcoin, potentially influencing other corporations to consider similar strategies.

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SEC nominee Atkins discloses at least $327M in assets ahead of confirmation hearing

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Paul Atkins, a former commissioner of the U.S. Securities and Exchange Commission (SEC), is under scrutiny over financial disclosures related to his wife. The concerns emerged during a recent hearing, raising questions about transparency and potential conflicts of interest.

Atkins, who served at the SEC from 2002 to 2008, has been a vocal advocate for regulatory clarity in financial markets, including the cryptocurrency sector. However, lawmakers and regulators are now examining whether proper disclosures were made regarding financial assets linked to his wife.

The inquiry reflects broader concerns about ethics and accountability among financial regulators and policymakers. While Atkins has not been formally accused of wrongdoing, the situation highlights ongoing debates over financial transparency in government and regulatory agencies.

As the hearing unfolds, industry observers are closely watching for potential implications on SEC policies and oversight practices. The outcome could influence future regulatory discussions, particularly in areas where financial disclosures intersect with policymaking in traditional and digital asset markets.

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Brazil’s data watchdog upholds ban on World crypto payments

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Brazil’s data protection authority is ramping up its oversight of cryptocurrency payment platforms, reflecting growing concerns over data privacy and regulatory compliance in the digital asset sector. The move aligns with a broader global trend of increased scrutiny on crypto transactions.

The regulatory focus comes as crypto payments gain mainstream adoption in Brazil, with businesses and consumers increasingly using digital assets for everyday transactions. Authorities aim to ensure that companies handling crypto payments comply with data protection laws, safeguarding user information against misuse and security breaches.

This initiative follows global regulatory efforts to address concerns over illicit financial activities and privacy risks associated with digital currencies. While Brazil has been a leader in Latin America’s crypto adoption, regulators are working to balance innovation with consumer protection.

Industry experts believe that stricter oversight could enhance trust in the crypto sector, attracting institutional players while ensuring compliance with international standards. As regulations evolve, businesses operating in the crypto payments space will need to adapt to the changing legal landscape to maintain seamless operations.

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