Alkemi Network Ecosystem Update for May, 2021

Alkemi Network released Ecosystem Update for May: welcoming growth beyond projections, borrowing now active, new partners and team members.

🔻Lending Exceeds Estimates

As of May 26, 2021, over $16m USD worth of institution-grade liquidity has been supplied to Earn, exceeding the May growth target by over 60%.

🔻Borrowing is Live

Borrowing has been activated on all four markets on May 17, 2021. Within nine days, total borrows amount to ~$7.5m USD worth of assets.

Radar joined Alkemi Network as a professional infrastructure and liquidity partner. Radar will be operating liquidations on Alkemi Earn, reinforcing healthy lend/borrow dynamics.

As a global turn-key compliance solution provider, KYC-Chain powers Alkemi Earn with a streamlined onboarding experience for users seeking a compliant DeFi solution. This partnership is an important step toward decentralized compliance, where users are in control of privacy and access on their own KYC data.

Alkemi Earn performance statistics are now available through Dune Analytics, an open analytics platform for the Ethereum community. Now everyone can create custom dashboards and trackers for the Alkemi Earn protocol, see this one for an example.

• The new Alkemi Network website is now live: https://alkemi.network
• Hear CEO Ryan Breen discussing the birth and evolution of Alkemi Network on the Open DeFi podcast
• The inaugural Community Virtual Meetup was held mid-May to give our community a chance to meet with members of the core team

What is Alkemi Network?

Alkemi Network is building an on-chain liquidity network with a suite of tools and products that serve as onramps for everyone to participate in decentralized finance.

📰 INFO:

https://medium.com/alkemi/ecosystem-update-may-2021-dca22531e054