The Polkadot-based DeFi insurance platform Tidal Finance has announced that it will expand to Elrond.
1/ 🚀Tidal Finance is excited to announce its partnership with @ElrondNetwork, a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding.
Tidal will provide insurance to assets and smart contracts on Elrond
Read more: https://t.co/0ssBmgPSOw
— Tidal Finance (@tidaldefi) March 22, 2021
Elrond Expands its Ecosystem
It was a busy week as the layer 1 blockchain network onboarded several new key partners. Users who want to stake Elrond’s EGLD tokens can now do so via four staking services providers: Trust Staking, Valid Blocks, Aaurelion, and Carpathian Stake. Furthermore, Elrond partnered with the DeFi data network Unmarshal.
EGLD has been listed as one of the available cryptocurrencies on Binance Pay, which also secured Elrond a promotion deal with the hotel booking service Travala.com, which has recently added this payment option. The Elrond network also underwent a minor protocol update and is now live in version 1.1.37.
Tidal Finance Awaits IDO After Completing the Whitelisting Process
For the initial distribution of their, Tidal has partnered with the decentralized exchange Polkastarter, where the tokens will be sold to whitelisted users. What makes this process special is that, due to the high demand, Tidal had to conduct a lottery to pick the Ethereum addresses that are allowed to participate in the IDO.
Out of over 180.000 applications, only 328 addresses were randomly selected and whitelisted to participate in the token sale. The aforementioned data network Unmarshal will be the next in line to conduct an IDO on Polkastarter using the same method.