⚔️ xDai Weekly Recap July 23, 2021

DeFi Matures on xDai

As the xDai ecosystem continues to mature, larger projects are taking notice of the possibilities and potential available on the xDai network. xDai has been quietly and steadily cultivating a DeFi presence thanks to stability, interoperability, and a seamless trading experience.

Projects like Perpetual Protocol have utilized xDai with great success, and others are now moving into this open frontier. This week, SushiSwap announced $2M in incentives for xDai users and a Curve Protocol vote is live to add pool rewards for their xDai deployment.

In other words, the xDai secret 🤫 is out.

Incentives from major projects are likely to bring more users and traction to DeFi on xDai. We expect cross-chain arbitrage opportunities will present themselves as new rewards incentivize traders to freely move assets in search of the best farming, lending, and trading value.

Thanks to the various bridge options, it is easy, fast, and inexpensive to move assets quickly cross-chain and trade wherever the best opportunities exist. Quick bridge options include:

  • OmniBridge for all ERC20-based assets, bridging between XDAI, ETH, & BSC.

  • xDai Bridge for bridging DAI to XDAI and XDAI to DAI on Ethereum.

  • xPollinate State Channels for DAI, USDC, USDT, bridging between XDAI, POLYGON, BSC, & FANTOM.

  • Hop.Exchange focus on USDC and bridging between XDAI, POLYGON, & ETH.

In addition to DeFi on xDai, this week was packed full of other news. Here are some additional highlights and developments!

July 23 Weekly Highlights

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