There is significant DeFi news about the cryptocurrency XRP. The Wanchain CEO integrated the decentralized cross-chain bridge for XRP on Twitter. Yield farming with XRP tokens is now possible!
Jack Lu, the CEO of Wanchain, stated in a short video on Twitter that one of the largest cryptocurrencies — XRP — will be integrated into the mainnet in the near future. In addition to liquid mining, this should also enable yield farming through the use of XRP.
I’m excited to announce that we’re just days away from officially adding XRP to the Wanchain family of decentralized, interoperable blockchain networks.
We say welcome to every XRP holder. Come and join us! Let’s rebuild the DeFi world.
The DeFi News gives XRP a new vantage point in the entire DeFi ecosystem. The development of decentralized finance has gained greater importance in the entire crypto ecosystem. When a few years ago cryptocurrencies with “the best idea” still had the strongest proponents, the interaction of many different cryptocurrencies with one another has now reached a new level of importance.
In addition, the cross-chain integration enables the Hodlers of XRP to use various applications on Wanchain and Ethereum. In addition, a possibility of interacting with Bitcoin and EOS is created.
In the field of decentralized cryptocurrencies, yield farming is one way of generating a return on investing coins in a smart contract. Yield farming used to be a good comparison with staking. By holding or staking coins, additional coins could be earned — with different returns depending on the blockchain platform.
Yield farming, on which the DeFi News is based, is a very advanced form of staking. Because the coins are not just stacked, but given in so-called smart contracts. These smart contracts handle various blockchain-specific processes. As an example for checking a transaction, a smart contract could be set up in which users can participate via yield farming and at the end receive a percentage share via the yield farming network for confirming the transaction.
Based on the DeFi News, it can be seen that the development around XRP and other cryptocurrencies is expanding significantly. Despite the lawsuit against Ripple and XRP in the US, the impact on the Asia-Pacific region is relatively minor. A higher form of complexity allows many different altcoins to interact with one another. This allows different coins with different functions to be used — an interesting development.
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