Razor Network added to its community this week, again proving its commitment to making progress to the public. Upon completing the first Testnet cross-chain integration with Moonbeam Network, Razor Network is now set to provide Oracle services for two DeFi applications while making some critical technical advancements.
Let's look at the details of this update;
Completion of First Testnet Cross-chain Integration with Moonbeam
On 1st February 2021, Razor Network announced the integration of its decentralized oracle systems on Moonbeam Network, a smart contract platform built on polkadot. Also, Moonbeam Network is an ethereum-compatible parachain designed to help projects meet new users and markets.
On the other hand, Razor Network provides data for smart contracts in such an easy, fast and secure approach. The integration of the Razor oracle system on Moonbeam Network meant that the DApps on Moonbeam Network could conveniently use the Integrated Razor oracle to get reliable data/feeds from the Ethereum Mainnet. However, this is just Razor Network's first testnet integration with Moonbeam Network and it is now completed.
Razor Network set to provide oracle services for two DeFi applications
Razor Network is now ready to offer its services to MOARFinance and PlutosNetwork. MOARFinance is a lending DeFi platform designed to unlock the power of inter-chain derivatives primitives, while PlutosNetwork is the next-generation synthetic trading platform.
On Monday, May 3rd, 2021, MOARFinance announced with excitement its partnership with Razor Network. This partnership now allows this lending platform to use Razor oracles. This means that the smart contracts that power the lending platform can now receive a secure and verified cross-chain crypto price feed, as well as off-chain data points with the help of Razor oracles.
This week, PlutosNetwork was not left behind, as it proudly announced its partnership with Razor Network on 7th May 2021. This integration will further reinforce this trading platform. For this partnership, Razor Network will help expand the Solana ecosystem's technical integration. This simply means that Razor will now provide technical support to PlutosNetwork.
Update on mining and staking
It would excite you to know that PancakeSwap LP mining is live as well as MUSTCometh LP mining. In case you don't know, PancakeSwap and MUSTCometh are decentralized exchanges.
On the PancakeSwap exchange, you can earn up to 2805% APYs for $RAZOR/$BNB. Also, you can make up to 65065% APYs with $RAZOR/$MUST on the MUSTCometh exchange. For the liquidity mining on PancakeSwap, there are 300,000 Razor Tokens to be won by LP miners.
Razor Network technical advancement update
Razor Network has made some technical changes, these include;
Inactivity penalty test
Updated import from OpenZeppelin to ACL.sol
Inheriting the ACL contract in the SchellingCoin contract resulted in few tests being refactored.