OKX Wallet Integrates Oxalus, Aark Digital, KiloEx, and Pendle in One Week

In a span of just one week, OKX Wallet has announced a series of integrations that diversify its offerings and solidify its position in the blockchain and cryptocurrency landscape. As of September 3, 2023, the latest addition to OKX Wallet’s ecosystem is Oxalus, a specialized NFT social commerce platform, according to press releases shared with Blockchain.News by OKX. This integration follows closely on the heels of partnerships with Aark Digital on August 30, as well as with Pendle and KiloEx on August 29.

The rapid-fire sequence of integrations commenced with the tie-up with Aark Digital, a Peer-to-Pool perpetual DEX platform designed explicitly for professional traders. As a result of this integration, OKX Wallet users now have access to advanced trading features, an expanded set of trading pairs, and robust liquidity options. This move not only enhances asset utility for the user base but also aligns seamlessly with OKX’s ongoing efforts to accommodate more seasoned market participants.

On August 29, the wallet integrated with Pendle, a permissionless yield trading protocol. This functionality allows OKX Wallet users to optimize yield earnings on their digital assets. It complements the platform’s broader vision to democratize financial systems via decentralized technologies. On the same day, OKX Wallet expanded its reach further into the realm of decentralized exchanges by integrating with KiloEx. This perpetual DEX focuses on risk management and capital efficiency, allowing users to tap into perpetual swap exchanges, staking, and bridge solutions. This particular development caters to risk-averse users who are seeking more balanced capital allocation and management options.

Capping off the week, the most recent integration on September 3 brought OKX Wallet into the burgeoning field of NFTs via its partnership with Oxalus. The NFT social commerce platform enables users to connect, trade, and stay updated on market trends, providing a well-rounded social and commercial experience within the NFT ecosystem.

Each of these four integrations serves a different subset of the crypto community, ranging from professional traders and yield-maximizers to risk managers and NFT enthusiasts. OKX seems to be setting an aggressive pace in its mission to build a versatile and comprehensive Web3 technology suite, targeted to meet diverse user needs in the fast-evolving crypto world.

In sum, OKX Wallet has significantly broadened its horizons through these calculated partnerships, further entrenching its place in a competitive marketplace. As part of OKX’s broader strategy, these developments stand as evidence of the company’s commitment to offering a comprehensive set of Web3 solutions. The speed and diversity of these integrations not only bolster OKX Wallet’s utility but also send a clear message to the market about OKX‘s ambitions and capabilities.

Image source: Shutterstock


Tagged : / / / / / /

Pendle Finance Launches Support For LP Derivatives

Key Takeaways

  • Pendle Finance has launched tokenized yields for Sushi LP Positions.
  • Users can now split their LP position into derivative tokens, allowing for speculation on future market movements.
  • Derivatives like Pendle’s yield tokens are a growing part of the DeFi ecosystem.

Share this article

Pendle Finance has launched support for Sushi LP (SLP) tokens, allowing users to trade and hedge swap fees, and speculate on the risk of impermanent loss (IL).

Pendle’s LP Derivatives 

Pendle Finance is giving users the ability to create derivatives of their Sushi liquidity provider (SLP) tokens. The announcement comes after Pendle successfully raised $3.5 million to launch the new feature back in April. 

SLP tokens can now be split into two components: ownership tokens (OT) and yield tokens (YT). By buying and holding these tokens, users can gain exposure to LP positions without providing liquidity themselves, similar to how derivatives function in traditional finance. 

Ownership tokens (OT) represent the underlying assets used to provide liquidity to the LP position. As such, users holding OT tokens are exposed to the impermanent loss that the position may incur through future price movements. On the other hand, yield tokens (YT) give the holder access to the fees generated by the LP position without the risk of IL. 

Pendle co-founder and CEO TN Lee has commented on the launch of the protocol’s new feature, stating:

“By introducing SLP as a supported asset, we bring a new utility to the DeFi ecosystem. Users are now able to trade and hedge swap fees with minimal exposure to impermanent loss, which is something that has not been possible before.”

The ability to split LP positions opens up new opportunities to speculate on future market movements. For example, if a trader has a conviction that the yield on an LP position will increase in the future, she could buy YT tokens to gain exposure to the potential increase without risking IL. Conversely, a trader could hedge against the risk of IL by opting to sell his OT tokens when he expects increased market volatility while retaining the yield generating YT tokens.

SIMETRI Research

Currently, Pendle supports PENDLE/ETH and ETH/USDC SLP tokens, with more liquidity pairs planned for the future. 

The DeFi ecosystem on Ethereum has continued to grow despite the market-wide pullback earlier this year. Derivatives are seeing increased interest, with the leading provider of crypto-based perpetual contracts, Perpetual Protocol, launching a $47 million fund to boost DeFi derivatives. With the launch of tokenized yields, Pendle will be well-positioned as the market for DeFi derivatives expands.

Disclaimer: At the time of writing this feature, the author owned BTC and ETH. One or more members of Crypto Briefing’s management team has invested in Pendle Finance.

This news was brought to you by ANKR, our preferred DeFi Partner.

Share this article


Tagged : / / / / / /

Will the launch of Uniswap v3 spark a new DeFi boom?

With the total value locked in decentralized finance on Ethereum now $89 billion, the market is eagerly waiting to see if the launch of UniSwap v3 could be the catalyst for DeFi’s next big bull run. 

Uniswap v3 promises advanced new features and opportunities for yield generation with its launch scheduled for May 5.

Uniswap is emphasizing three new features for liquidity providers — customizable capital deployment across a markets’ entire price curve in the form of concentrated liquidity, tiered market maker fees offering boosted returns for volatile pairs subject to impermanent loss, and cheaper access to oracles for improved data integrity.

The expected reduction in Ethereum’s fees due to the EIP-1559 upgrade come July is also expected to boost v3’s value proposition, and the latest version of Uniswap will also launch on Optimism after the layer-two rollups solution goes live. 

With its new concentrated liquidity feature promising users’ unique and customizable yield products, a nascent DeFi sector specializing in tokenizing future yields appears poised to flourish.

Emerging projects like Alchemix have recently enjoyed meteoric growth from the promise of tokenizing future yields, while the likes of Alchemist Coin are using Ampleforth’s V2 Geyser contracts to allow users to create nonfungible tokens representing claims to future Uniswap liquidity provider fees. 

Further, new decentralized exchanges are innovating to facilitate trade in tokenized future yields, with Pendle raising $3.5 million from major investors last month to build an automated market maker specializing in time-degrading assets.

Commenting on the completion of Pendle’s public LBP offering earlier this month, Cinneamhain Ventures Partner, Adam Cochrane, described the forthcoming exchange as creating “an entirely new category of market in the DeFi space.”

Uniswap v2 in history

Uniswap v2 launched on Ethereum’s mainnet on March 18, 2020. Back then, the decentralized exchange had roughly $13.7 million locked in total value locked, or TVL, while the broader DeFi sector’s TVL was roughly $550 million.

Despite attracting controversy early on for the popularity of its open listing policy among scammers and impersonators and its relatively high trade fees compared to some centralized platforms, Uniswap’s TVL pushed above $100 million in August as the sector’s TVL surged to $7.5 billion by September.

After facing a series of vampire mining attacks from rival yield farming DEXes in a bid to siphon away the platform’s liquidity, Uniswap airdropped its native governance token to the v2 protocol’s users in September and closed the month with a TVL of more than $2 billion.

While the DeFi markets cooled in Q4 2020 while Bitcoin into new all-time highs above $20,000, the sector’s TVL has rocketed since the start of 2021, while value locked in Uniswap grew from $2.15 billion to $8.53 billion, according to DeFi Llama.