Welcome to Interlay’s Ecosystem Update for March 2024!
We’ve crushed milestones and we are thrilled to share the exciting progress at Interlay last month. As a key player in the decentralized ecosystem, our mission has always been to foster innovation, scalability, and interoperability on Bitcoin.
TVL Updates
As the Defi ecosystem adopts Bitcoin, the Total Value Locked (TVL) on Interlay has been on the rise with a recorded TVL ATH of 21.66 Million USD last month.
Currently sitting at 11.46 Million USD (excluding borrows) and Over 2x since its ATH of last year, It is evident that the Bitcoin takeover is near.
You can track the TVL on Interlay here:https://defillama.com/chain/Interlay
Governance Updates
Interlay Referendum #94
To bring more liquidity into the Interlay lending market, a proposal to register HDX token on the Interlay chain has been executed.
This Proposal will add HDX to the Interlay DEX, create a money market for lending and borrowing HDX, and capture possible fees from borrowing and lending HDX tokens
For more details check out:
https://interlay.subsquare.io/democracy/referenda/95
Interlay Proposal #100
A proposal to Adjust USDT and USDC lending market parameters on Interlay was tabled.
This proposal will adjust the lending jump curve for both the USDT and USDC markets and increase the market cap of $USDT to $2 million and the liquidation threshold for USDT to 87% to match USDC.
Read more here: https://interlay.subsquare.io/democracy/proposals/100
Events
Interlay Community Call
On the 3rd of March 2024, we had a usual community call where our co-founder Alexie joined us to discuss “the Path forward” for Interlay.
The Technical roadmap which includes adding new lending markets and vault collaterals to increase diversity was discussed.
Find out more about our Business development initiatives and other important discussions on the call here: https://interlay.medium.com/interlay-the-path-forward-5695a5515a0c
Integrations
Interlay Live on Dune
Being the leading Bitcoin DeFi provider in the Polkadot ecosystem, Interlay was listed as one of the first six Polkadot and Kusama parachains to go live on Dune Analytics.
With this integration, users and the general Polkadot community can seamlessly track Interlay on-chain activities in real-time.
Track here: https://dune.com/substrate/interlay
See the announcement here: https://x.com/InterlayHQ/status/1770550574548988043?s=20
$iBTC<> $DOT Pool Live on Stellaswap
Interlays $iBTC won the latest Stellaswap Vote-For-Boost and and by a large margin too.
We are grateful to our solid community for rallying behind us to achive this feat.
The $iBTC<>$DOT pool is live on stellaswap and now incentivized.
Check out the announcement here: https://x.com/InterlayHQ/status/1770550574548988043?s=https://x.com/InterlayHQ/status/1770467056590225626?s=20
Interlay X $VARCH
Last month, we collaborated with Invarch to reward active users who utilized $VDOT or $DOT on Interlay. They were airdropped a chunk of the 40,000,000 $VARCH tokens.
See the announcement here: https://x.com/InterlayHQ/status/1765728342211190942?s=20
Interlay X $PINK
Oh! There’s more…
$VDOT holders on Interlay at Block Height 4542124 also got airdropped an allocation of the +25, 000,000 $PINK tokens distributed by the Bitfrost team.
See the announcement here: https://x.com/InterlayHQ/status/1772651514512789764?s=20
Community
Last month the community voted on some important Governance matters.
Interlay In the Media
That’s it from March, see you next month!
About Interlay
Interlay is the global layer for all things Bitcoin finance. BTC trading, lending, staking, and a way to deploy into other DeFi products. Trustless bridge at the core, AMM and money market on top, wrapped in a simple one-click interface with on/off-ramps and multi-chain support.
Follow both Interlay and Kintsugi on Twitter, join our Telegram, and hop in our Discord to keep up to date with daily updates from the team.
