Container ship outside Hong Kong

Blockchain and trade finance have always seemed like natural partners, and a company based in India is taking another stab at cracking the code.

Persistence has built the back-end infrastructure for a trade finance system that will allow small and medium-sized buyers to more easily find financing for commodities purchased from sellers, traveling between the main trade hubs of Asia, places like Singapore, Hong Kong and Dubai, among others.

The startup closed a $3.7 million token round led by Arrington XRP, along with Alameda Research and South Korean stablecoin company Terra, among others. The backers are purchasing the Persistence token, or XPRT, which is set to be released sometime late this year or early next year, once macroeconomic conditions appear to be stabilized, said Persistence CEO Tushar Aggarwal.

Related: Boardroom Raises $2.2M for Blockchain Governance Toolset

“Commodity trading is a notoriously difficult industry to penetrate,” Aggarwal told CoinDesk in an interview, noting that other firms like Perlin and Centrifuge have already entered this space.

Persistence’s advantage, Aggarwal said, lies less in its technology than in its business-development strategy.

To build an application that would appeal to companies outside of the blockchain industry, Persistence settled on Tendermint as its base layer, after investigating both Ethereum and Waves.

“A big focus of ours is the institutional folks. On the institutional side we tried to abstract away some of the complexity,” Aggarwal said.

Related: Dapper Labs Raises $18M in Token Sale for NFT-Centric Flow Blockchain

Read more: Cosmos Gains Traction in India Amid Broader Crypto Resurgence

The specific trade finance platform was built as a separate application atop Persistence, called Comdex. That platform was turned over to a third party that already has access to the trade finance industry. Invoices get turned into non-fungible tokens (NFTs) that can then be collateralized to back

SINGAPORE, Sept. 28, 2020 /PRNewswire/ – Active crypto prediction marketplace HedgeTrade launches decentralized exchange and DeFi token for liquidity providers and yield farming earning opportunities.

Steaks Finance by HedgeTrade (CNW Group/HedgeTrade)
Steaks Finance by HedgeTrade (CNW Group/HedgeTrade)

HedgeTrade is pleased to announce a closed-loop DeFi initiative to add new ways to earn tokens in conjunction with its leading crypto social trading platform. 

“Steaks Finance is the realization of everything about DeFi done right — no pre-mine, no investors, and no advisory tokens. Like other DeFi platforms, Steaks is designed to exist in perpetuity on its own, but by integrating with HedgeTrade, we create a closed-loop ecosystem and create a practical application for STEAK tokens,” David Waslen, CEO & Co-Founder of HedgeTrade and Steaks Finance said. “By layering in DeFi models, we will be creating a community-driven ecosystem where you can farm, stake, use, trade, govern, and earn STEAK and HEDG tokens.”

Steaks Finance addresses the need for proper long-term use cases for DeFi tokens — allowing users to do more than provide liquidity and earn a portion of the swap trading fees. With Steaks, users can yield farm STEAK tokens and will eventually yield HedgeTrade commissions as well as vote on how the protocol evolves. Combining these models will make this an unprecedented all-in-one ecosystem.

“With Steaks, HedgeTrade is answering the gaps left by other DeFi initiatives — allowing you to earn beyond farming and trading fees which is by integrating with an already viable platform that allows you to earn both STEAK and HEDG tokens in multiple ways,” Waslen said.

Steaks will distribute future fees from various HedgeTrade business lines into the Steaks platform. For example, commissions generated on HedgeTrade will be distributed to STEAK holders via the Steaks “SteakBar” pool. In that way, the STEAK yield farming will not end, even

Kush Finance

Kush Finance
Kush Finance
Kush Finance

TALLINN, Estonia, Sept. 28, 2020 (GLOBE NEWSWIRE) — The Decentralized Finance (DeFi) ecosystem is gradually shifting from the very fundamental aspect of decentralization to using what are called ‘governance tokens.’ These types of digital assets have become popular since DeFi picked up earlier in the year, and then gained momentum when Compound launched its ‘COMP’ governance token in June. While they have emerged as the fuel for DeFi network growth, some innovators are taking advantage of the asymmetry in technical knowledge and issuing governance tokens mainly to the developing team.

Well, a recently debuted project dubbed ‘Kush Finance’ is returning the DeFi ecosystem back to its basics using its own governance token, called ‘kSEED.’ Unlike other DeFi projects that have allocated a significant amount of governance tokens to a small group, the Kush Finance DeFi token is designed to turn kSEED holders into a collective whale. This basically eliminates a scenario where whales dump on unsuspecting DeFi token holders as has been the case in recent weeks.

To achieve full decentralization, Kush Finance has implemented a bidding model which allows kSEED token holders to exercise complete governance within its DeFi platform. They can do so by constructing and proposing their preferred bids within periods identified as ‘voting rounds.’ Once the process is complete, the Kush machine will automatically execute the bid with the most votes at the end of a particular round.

The Kush Finance bidding model also accommodates additional bids by chaining them onto the initial order. Consequently, each Kush Finance voting contract can be upgraded, replaced, or reconnected to allow kSEED holders to vote on a bid that reconnects to the rest of the network. In doing so, Kush Finance has eliminated the need for a central developer to keep updating its