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Hydration, a decentralized finance (DeFi) project within the Polkadot (DOT) ecosystem, has received 2 million DOT tokens, equivalent to $14.4 million, to enhance the liquidity and trading efficiency of its liquidity provisioning platform, Omnipool, according to the information disclosed to Finbold on June 10. Strengthening Omnipool with native liquidity The first million DOT will be distributed over a year to attract fresh liquidity to the Polkadot ecosystem, and Liquidity Providers (LPs) can expect initial rewards exceeding 200% APY.  Hydration’s single-sided LP system enables users to provide a single asset and join an incentives farm, with incentives available for various assets, including native stablecoins. Picks for you How rich is the first female Washington senator: Patty Murray's net worth revealed ...

According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar. USD Coin (USDC) issuer Circle plans to use " corporate resources" to cover the shortfall on its reserves following Silicon Valley Bank's shutdown, said the company in a statement on March 11.  According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar. The announcement came after the stablecoin lost its $1 peg on March 11 to trade as low as $0.87 before slowly re-pegging at $0.97 at the time of publication. The stablecoin lost its peg after the disclosure of $3.3 billion of Circle's reserve at Silicon Valley Bank. Sharing an Update on USDC and Silicon Valley Bank. https://t.co/Ug3qpot8sJ — Jeremy Allaire (@jerallaire) March 11, 2023 Silicon Vall...