Radix and LayerZero Partner to Enhance Web3 Interoperability

Radix, a layer-1 protocol, has formed a partnership with LayerZero, an interoperability protocol, with the goal of improving Web3’s compatibility with other protocols. As a result of the integration, cross-chain communication and asset transfers will be made possible inside the Radix ecosystem, which will encourage the cooperation and integration of decentralized apps. (DApps). Users and developers will have a more connected experience as a result of the integration of LayerZero into the Radix ecosystem, which will unleash omnichain potential for decentralized applications and assets.

Interoperability on Web3 has the potential to enable collaboration and integration between different decentralized applications (DApps), which would increase the range of functionalities that may be provided by DApps. Users are able to exploit their assets across several platforms as a result of this feature. Users are able to utilize their non-fungible tokens (NFTs) as loan collateral when a non-fungible token marketplace is integrated with a decentralized finance protocol, for instance. In addition, interoperability makes it possible for decentralized applications (DApps) to make use of the security functions offered by numerous blockchain networks, which in turn helps to improve the overall security posture of these applications.

Interoperability also helps increase the amount of liquidity that is shared, which ultimately results in a larger and more complete liquidity pool for the decentralized ecosystem. This reduces the likelihood of fragmentation of liquidity across the many different blockchain networks, which is to the users’ benefit.

The director of the Radix Foundation, Piers Ridyard, has voiced his excitement about the integration, adding that it would demonstrate the possibilities of cross-chain interoperability. Additionally, he underlined the significance of decentralization, which is one of the guiding ideas of Web3. Interoperability may lessen the power of a single blockchain network, which in turn can help decentralization efforts along those lines.

The integration is scheduled to be live in the second half of 2023, and it is anticipated that users of both platforms would profit from its implementation. Overall, the collaboration between Radix and LayerZero represents a major step toward the realization of Web3 interoperability. This will result in improvements to the scalability, security, and user experience of decentralized ecosystems.


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Altcoin Supercycle Has Arrived, According to Analyst Nicholas Merten – Here Are 4 Crypto Assets To Watch

A popular crypto analyst says that a supercycle for altcoins is here and he’s eyeing four crypto assets that could potentially rip higher for major gains.

In a new strategy session, Nicholas Merten tells his 489,000 YouTube subscribers that while king crypto Bitcoin (BTC) may seem a bit stagnant, enthusiasm for altcoin projects is likely to increase in a big way.

“My biggest focus here is that as we go further into the bull market, as we see in all bull markets in every single type of financial asset, such as stocks and commodities and forex markets, and specifically in a very creative and fast-paced environment like crypto, we are going to see more liquidity, more capital and more excitement go onto altcoin valuations… 

No matter where Bitcoin goes, altcoins are the focal point here.”

The DataDash host is interested in decentralized finance (DeFi) platform Aave (AAVE) which has seen a 63% rally against Bitcoin (AAVE/BTC) over the past 12 days.

“A major breakout in the sense of price here. And revisiting levels we haven’t seen as far back here as October 7th and the previous lows [0.005727 BTC] in June of 2021.

If we can clear through this range… that’s going to set the foundation for AAVE to probably have another seismic rally, the likes of which we saw back here in January as well as May of 2021.”

AAVE is currently up nearly 5% on the day to $288.43 and has been soaring from a weekly low of $180.83.

Merten is also looking at the Ethereum-based automated crypto exchange Uniswap (UNI), which he notes is also rallying nicely against BTC after a slow descent during the summer and fall months. He says UNI has the foundation to continue on for another breakout higher.

At time of writing, the price of UNI is up nearly 13% to $20.02.

The crypto analyst also examines Yearn.Finance, which soared recently after the project did a major buyback of its native token YFI.

“One of the fair-launch protocols in the crypto space, up 62%… just in the past 12 trading days.”

YFI continues its positive momentum, up 4.80% today and trading for $33,423.

Merten concludes his discussion with the developer-friendly, layer-1 DeFi protocol Radix (XRD).

“We’ve been able to make previous resistance new support, and since then over the past two weeks we’ve been able to go up from around $0.22 to $0.30.

Starting to pick up momentum for the next wave here. And we’ve seen that when Radix as an early-stage project breaks out, it breaks out big.

Radix is starting the week with a flurry, up over 12% on the day to $0.32.

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GoodFi coalition adds 22 industry leaders to help attract 100M to DeFi

Non-profit decentralized finance alliance, GoodFi, has announced the addition of 22 DeFi industry leaders to its newly formed Board of Advisors including representatives from many of the sector’s top projects.

It’s also launched a website to hook new users up with appropriate DeFi protocols.

Announced May 13, the advisory board features Chainlink account executive, Michael Zacharski, SushiSwap core developer, Omakase, and Aave digital marketing manager, Isa Kivlighan. In total, 19 leading teams building in DeFi from across the globe are represented, including Ava Labs, Acala Network, and Maple Finance.

The Board of Advisors is expected to pool knowledge and experience to reduce the barriers to enter the crypto and DeFi sectors. GoodFi has also launched a website offering in-depth resources to first-time users regarding the value proposition and basics underpinning decentralized finance.

The site will offer a “matchmaker” feature from next month. It’s designed to recommend beginner-friendly DeFi protocols to new users tailored to their individual needs. The tool will also provide real-time data for yield products on “a range of proven platforms.”

Adam Simmons, Radix’s head of strategy, emphasized GoodFi’s mission of onboarding 100 million DeFi users by 2025:

“While opening a new cryptocurrency wallet and interacting with various DeFi DApps is second-nature to crypto natives, these processes will initially be intimidating to the uninitiated majority across the globe. To get 100 [million] DeFi users by 2025, GoodFi needs to guide users at each step so they feel confident bringing assets into the ecosystem.”

Speaking to Cointelegraph, Maple Finance’s CEO and co-founder, Sidney Powell stated that Maple will “help establish partnerships with a goal of building awareness about the power and sovereignty which DeFi puts in the hands of the everyday person.”

Powell predicted that the development of increasingly user-friendly interfaces will help “spur greater adoption” of DeFi, adding that “the longer DeFi has been around, the more comfortable people will be with it.”

“[DeFi] is already starting to appeal to people I know from Wall St and more traditional finance backgrounds so this is just a matter of time. We see DeFi’s adoption as increasing society’s progress by giving new tech and finance businesses access to capital for growth and innovation.”

The GoodFi alliance was launched by DeFi-focused layer-one protocol Radix in February, with Chainlink, Aave, and Messari pledging early support.

DeFi consortiums have sharply proliferated in recent months, with Polkadot announcing an alliance in December, the Ren Alliance expanding to more than 50 members in April, and the Open DeFi Alliance launching a decentralized autonomous organization earlier this month.