1Password Partners with Phantom and Stark to Deploy Nine DApps, February 18-25

Welcome to the latest edition of Coin-Crypto’s decentralized financial newsletter.

In the wake of the worrisome political situation this week, markets reacted sharply downward, but some assets tried to finish the week on a positive note.

1Password partners with Phantom Wallet on API service

Digital security platform 1Password this week announced a partnership with Phantom Wallet to give asset owners the ability to consolidate their lists of public key addresses, seed phrases, and other associated security details into a single “Save to 1Password” system.

Currently, 1Password is primarily active in the traditional finance industry and has more than 100,000 corporate clients from a variety of industries, including well-known brands such as IBM, Slack, Shopify, and Under Armour.

1Password’s flagship service, an application programming interface, aims to simplify the user experience by enabling asset sovereignty and independent portfolio responsibility to help investors adequately manage cryptocurrencies and non-replaceable tokens held on the Solana blockchain.

CoinTelegraph spoke to Matt O’Leary, VP of partnerships at 1Password, for a detailed assessment of the topic of security, as well as whether the prevalence of hacks and exploits in the decentralized financial space is driving the need for demand and subsequent innovation for security solutions such as 1Password.

“1Password’s partnership with Phantom is a great example of innovation addressing this challenge… This people-centric approach to crypto wallet security is designed with the end user in mind, making it easier than ever to keep crypto safe and secure. to invest. †

StarkNet deploys first nine DApps to drive mainstream adoption

Layer-2 scaling solution StarkNet, known for its Ethereum protocol service StarkWare, announced this week the implementation of its first suite of decentralized applications (DApp).

The DApps are targeting a range of sectors, including an ERC-721 non-replaceable token project called Mallows, a real-time price chart also from the Mallows team, as well as a Cairo multisig contract, among others.

StarkNet is a permissionless validity package, or zero-knowledge rollup, that uses basic compression technology to increase the production and security benefits of Ethereum’s layer 1. The company prides itself on the ability of its products to offer “very low” gas rates and “unlimited” scale potential.

The StarkWare team revealed its commitment to complete decentralization within the next year, a strategy that will spawn a $50 million Sequoia Capital-led Series C fundraiser on Nov. 16, bringing the project’s valuation to $2 billion.

Celsius Deploys Crypto Lending Service on Maple Finance

Digital asset lending platform Celsius this week became the centralized finance industry’s inaugural pool delegate to roll out a cryptocurrency lending service on Maple Finance, leveraging the latter’s smart contract and blockchain infrastructure to create a pool. of $30 million to institutional investors.

Celsius is following in the footsteps of existing pool delegates BlockTower, Orthogonal Trading, Maven 11 and Alameda Research, who are partnering with Maple on these types of projects. The introduction of Wrapped Ether (wETH) is intended to complement existing accessibility to trade Circle’s native stablecoin, USD Coin (USDC), allowing investors to use the asset for a range of trading components, including staking, lending and borrowing.

Coin-Crypto spoke with Sidney Powell, co-founder and CEO of Maple Finance, to uncover the terms and financial nuances that interested institutional investors should be aware of before engaging with the pool.

Powell shared that “Institutions are working directly with the Celsius team to borrow from this pool. Borrowers must pass Celsius’s established KYC and credit ratings,” adding:

“In this case, digital asset institutions Wintermute and Amber have already done business on Maple, so they have an on-chain credit reputation and have also signed a Master Loan Agreement. This, plus Celsius’s established processes, means onboarding has been streamlined for all parties.”

Token executions

Analytical data shows that DeFi’s total value fell slightly 8.53% over the course of the week to $106.82 billion.

Terra (LUNA) was the only gainer in the DeFi space this week with a gain of 27.7% after a positive performance on Friday.

Interviews, features and other fun stuff

Thanks for reading our roundup of this week’s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically evolving space.

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