Nord Finance: Monthly Recap April 2021
Since the beginning of 2021, we have continued to live out our vision of building an advanced decentralised finance ecosystem for each month. We didn’t fall short for April as we kept introducing newer updates in partnerships and protocol developments. Truly, our community has indeed been our backbone with your constant cheering on and trust. We are grateful for your continued support thus far.
In this update, we roll out our achievements in April in pushing DeFi to its boundaries while simplifying decentralised finance products for you. Follow us on this journey as we take you through each milestone we hit in April.
🏦 Product and technology updates
Compound yield farming enabled on Nord Savings (V1)
Nord Savings users can now earn more yield on their stablecoins via Nord Savings as we integrated Compound. Before this integration, our users earn $NORD tokens as rewards for depositing their stablecoins into Nord Savings. With Compound and AAVE now integrated with the protocol, users will earn NORD APY + APY in USDT/DAI/USDC.
Much-awaited on-chain staking goes live on Binance Smart Chain
One of the keystone milestones for us in April is the implementation of on-chain staking for $NORD Token. Through the Nord Finance dashboard, users can now stake $NORD as single asset to earn rewards in $NORD tokens. Our dream from the onset is to make Nord Finance a chain-agnostic DeFi solution for everyday users. Implementing single asset staking on Binance Smart Chain is our first but giant leap to realising that vision.
🌍 Partnerships and ecosystem
Nord Finance Partners GalaxyFarm for Gas-less Yield Farming on Layer-2 Polygon Network
To expand Nord Finance Liquidity Providers yield farming options, we teamed up with GalaxyFarm to enable our users to farm multiple tokens in the GalaxyFarm — 2 pool and earn rewards in ten different tokens averaging 129% APY. With GalaxyFarm — 1 pool highly successful, Nord Finance LPs gained access to new yield farming opportunities in GalaxyFarm.
The significant part of this partnership stems from the fact that GalaxyFarm offers users exposure to many different tokens, providing competitive APYs on a Layer-2 (Polygon based) AMM, which is gasless in nature.
Read more about this partnership: http://bit.ly/NORDxGalaxyFarm.
Nord Finance announces the end of NORD LP Pancakeswap V1 and upgrades LPs to V2
We announced the end of the LP Staking program for NORD-BUSD Pair on Pancakeswap, Binance Smart Chain’s largest DEX and currently DeFi’s largest AMM in terms of transactions volume and TVL. Subsequently, our team successfully conducted a liquidity migration from Pancakeswap V1 to V2. By this, Nord Finance users are able to trade and provide liquidity into NORD — BUSD pair.
Nord Finance announces Chainlink decentralise oracle network integration
To further enhance the security of our product ecosystem, we have announced that we are integrating Chainlink, an industry-leading decentralised oracle network, to drive accuracy and reliability. By joining more than 70+ other leading protocols to integrate Chainlink, we hope to boost increased security and reliability in the dynamic DeFi landscape, thus unleashing the true potential of DeFi.
Read more: http://bit.ly/Nord-Link
💬 Community updates and marketing events
Nord Finance Co-founder and CEO featured in CryptoSpotlight
As a testament to seeing that we simplify decentralise financial products both in theory and practical terms, our Co-founder and CEO Amarnath Reddy featured in a CryptoSpotlight series organised by Blockchained India on the 15th of April. Amarnath took the stage to share Nord Finance vision of sampling DeFi products for users by highlighting traditional finance’s key attributes.
Nord x Crypto Royals Finance AMA
Barely days after Nord Finance got featured in CryptoSpotlight, our Co-founder and CEO took the opportunity to expose to Crypto Royals audience its slew of products in an AMA session held on the 19th of April. Our CEO’s points in the session covered the present state of the Nord Finance ecosystem and upcoming partnerships and development like the much-awaited upcoming on-chain staking on Binance Smart Chain.
Nord Finance x Blocktalks AMA
Blocktalks, a large community of enthusiasts discussing innovations around Blockchain technology, hosted our Co-founder and CEO Amarnath Reddy on April 23rd, who responded to several questions from the community. Reddy had the opportunity to share Nord Finance product suites such as Nord.Savings: Earn highest risk-adjusted APYs across chains, Nord.Advisory: Risk profile based Robo Advisory, Nord.Loans: Overdraft crypto loans/loans against portfolio, Nord.Swap: Multi-chain asset swap facility for DeFi users.
Nord Finance x Crypto Talkz AMA
Our Co-founder and CEO Amarnath Reddy had the incredible privilege of speaking with the 24,000+ strong community members of Crypto Talkz in AMA session held on the 27th of April. Reddy once again introduced Nord Finance’s chain agnostic DeFi simplicity solution and its product suite to a new audience.
BSC.News hosts Nord Finance’s Podcast
Our Co-founder & CEO, Amarnath Reddy, sat down with Ben from BSC.News to discuss Nord Finance’s chain-agnostic approach towards DeFi and yield farming. Binance Smart Chain is currently the fastest-growing blockchain allowing DeFi innovators and enthusiasts to build and port decentralised open finance protocols. It has gained a tremendous uptick in traction hence an excellent opportunity for Nord Finance with the recent featuring of our podcast.
Listen to the podcast: https://bit.ly/3gLkV9a.
🚀 Pumped for May
We are glad at our traction for April, but we are not resting on our oars. We are super pumped for May and will continue to push the boundary of DeFi even further. With continuous research by our team and possible integration with other chains, we hope to surpass what we achieved in April as we continue to push for more multi-chain functionalities for our Nord Finance ecosystem users. Nord Vikings, forward we move!
About Nord Finance
Nord Finance, a blockchain agnostic platform, is an advanced decentralised financial ecosystem that focuses on simplifying decentralised finance products for users by highlighting traditional finance’s key attributes. Deployed on the Ethereum Network, it integrates multi-chain interoperability, thus proposing a plethora of financial primitives, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.
At Nord Finance, we are building a one-stop advanced decentralised financial ecosystem to serve the rising needs targeting novice users and professionals to meet their financial goals.