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Tag: Xend finance

  • Polygon And Xend Finance Announce First Africa Bootcamp

    Polygon And Xend Finance Announce First Africa Bootcamp

    Polygon, in partnership with Xend Finance, has launched the Polygon Bootcamp Africa Class of 2022. The Bootcamp, also called Polygon Fellowship, is an exclusive eight weeks intensive certified mentorship program. It includes a hackathon in Africa, an event in partnership with Xend Finance for individuals who want to take the next step in their Web3 Development Journey.

    The Polygon Bootcamp and Hackathon will be the company’s first in Africa and will introduce developers in the region to the Polygon ecosystem using Xend Finance and Polygon technologies.

    Polygon is a Dubai decentralised Ethereum scaling platform, the leading Web3 infrastructure used by some of the world’s biggest companies, including Meta, Stripe, and Reddit, while Xend Finance is a Nigerian web3 startup and the leading global crypto bank.

    The Program Tracks

    The programme has two tracks, the Beginner and Master tracks. Those chosen for the mentor-led program will learn how to build decentralized apps on the Polygon blockchain and receive the official Polygon Africa Bootcamp Certification upon completion. Mentors and judges include Shodipo Ayomide, Global Head of Developer Advocacy of Polygon, Ugochukwu Aronu, CEO of Xend Finance, Victor Osaretin Asemota, and Yele Bademosi, CEO of Nestcoin, amongst others.

    The Beginners track will focus on an introduction to Web3. This track will be open for developers who are new to the web3 space and do not have any web3 experience yet. Participants will form teams or build projects individually with the help of industry mentors. The top 3 projects will earn the following bounties: $5,000, $3,000, and $2,000. The next top 10 projects will get $500 each.

    Read also: Binance Partners with Utiva to Host Blockchain Education Bootcamp For African Women

    The master track will focus on advanced web3 education and is targeted at those with experience in the web3 space. Participants will form teams or build projects individually with the help of industry mentors. The top 3 projects will earn the following bounties: $10,000, $7,000, and $5,000. The top 3 projects will also access the accelerator, while the top 15 will get $750 each.

    The winning companies will also be considered for Polygon’s seed investment program and will be featured on the decentralized website Xend Launchpad, which connects projects with global investors.

    Sandeep Nailwal, Chief Operations Officer and Co-founder of Polygon, claimed that Africa has the highest potential to take full advantage of Web3 and provide its people with a borderless economy and stability

    “Africa has the greatest potential to harness the power of Web3 and bring a borderless economy and stability to its people,” said Sandeep Nailwal, COO and Co-Founder of Polygon. “We are excited to hold our first hackathon and fellowship in Africa, which we hope to do for years to come.”

    Polygon and Xend Finance are expecting more than 2,000 developers, working with numerous developer organizations in Africa, including GDG Nairobi, amongst others. The Polygon Bootcamp is open to all applicants, with the application period starting today, September 26, and the deadline commencing on October 7.

    Those selected will start the program on October 10 and end it on December 2. Over $60,000 in prizes will be given out following the hackathon, with two divisions – a beginner’s and a master’s – with first place receiving $10,000, followed by $7,000, $5,000, and $750 for the top 30 projects. The winning projects will also be considered for seed funding from Polygon and exposure on Xend Launchpad, a decentralized platform that exposes projects to international investors.

    “As a Web3 infrastructure for developers, which includes a crypto payment API and wallet infrastructure, we are very excited to help a generation of developers reach a global audience,” said Ugochukwu Aronu, CEO of Xend Finance. “Working with Polygon allows our existing developer base and new developers to tap into the power of the Polygon blockchain and ecosystem using our technology. We are Africa, and we are proud to support our community. ”
    The application starts on the 26th of September, 2022 and closes on the 7th of October, 2022.
    Find out more about the Polygon Bootcamp and how to apply HERE

    What to Know About Xend Finance

    Xend Finance is a global crypto bank offering up to 15% interest, with an open Web3 infrastructure for developers. Members can earn multiple levels of interest on their savings by seamlessly exchanging their crypto or fiat currency for stable cryptocurrencies and staking them on the Xend Finance platform. The company’s Cross-Chain High Yield Aggregator is the first product in the industry that automatically scans and ensures the highest yields across multiple chains.

    The open Web3 infrastructure of Xend Finance is available to developers. By easily converting their crypto or fiat money to stablecoins and staking on the Xend Finance platform, members can earn various rates of interest on their investments.
    The company’s cross-chain high-yield entity is the first item available in the market that automatically checks and aims to ensure the highest yields across different chains.
    Professionals from KPMG, Chevron, Huobi, and Stanbic Bank make up the multi-national team at Xend.

    They have backgrounds in mathematics, finance, cryptography, and blockchain development. Xend Finance is backed by NGC Ventures, AU21 Capital, Hashkey, Google Launchpad, and Binance, to name a few of the investors.

    Polygon

    Polygon is the leading blockchain development platform, offering scalable, affordable, secure, and sustainable blockchains for the Web. Its growing suite of products offers developers easy access to major scaling solutions, including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

    Polygon sets an example for other solutions in the Web3 environment by being carbon neutral. The hosting of more than 19 000 decentralized applications, the processing of 1.6 billion transactions, the identification of 142 million unique user addresses, and the security of $5 billion in assets demonstrate the widespread acceptance of Polygon’s scaling solutions.

    If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp.

  • Nigeria’s Xend Finance passes 100k users, launches in Ghana and Kenya

    Nigeria’s Xend Finance passes 100k users, launches in Ghana and Kenya

    Xend Finance is a Nigerian startup launched in 2020 and focuses on opening credit facilities for users which eliminates. When it began operations there was a scarcity of funds to advance the project but some of their investors such as Binance Labs, Google Developers Launchpad, and AU21 capital both gathered funds amounting to $2 million for the startup to begin operations.

    The company since its launch has achieved a lot of achievements and now, they have reached another landmark with over 100,000 users operating on their platform. The company has also announced that it has opened the ability for countries like Kenya and Ghana to save in their local currencies which are:

    Ghanaian Cedis (GES)
    Kenyan Shillings (KES)

    In an interview concerning this milestone, Ugochukwu Aronu, CEO-Xend Finance, said:
    “We have spent our first year pushing code and ensuring our platform is secure through numerous audits while developing a product that always gives our users the best interest rates across multiple chains.

    Now that we have turned our attention to onboarding users, we have seen a tremendous response from first-time crypto purchasers and savers. Our growth is in response to market conditions where their native currency is constantly devalued and suffering from inflation”.

    The introduction of Cedis and Shillings will coincide with the opening of a billboard campaign across both Ghana and Kenya which has already been operational in Nigeria where Xend finance already has 50 billboards nationwide.

     

    More On What Users Can Do With Xend Finance App

    The company also allows users to use their mobile app in converting their local currencies to either stable coins or US dollars to gain access to high APYs which spread across both Binance Smart Chain (BSC) and Polygon and that can be done either by staking or conserving their cryptocurrency for some time.

    Their users can also use the mobile app as a Defi wallet which enables peer-to-peer fiat-to-crypto on and off-ramp.

     

    Read Also : Seamfix Pledges to Facilitate Digital Identity Issuance

     

    Also commenting on the milestone, the CEO and Co-Founder of Polygon, Sandeep Nailwai, said: “Congratulations to Xend Finance on passing 100,000 users on their platform. They have shown a clear-cut need for services targeting underserved regions.

    As an early investor, I am proud of the work they are doing in Africa and beyond. Polygon is here to support their efforts in underserved regions around the world”.

    Xend Finance in 1 Year After its Mainnet Launch

    Even though the company is just clocking a year after mainnet launched in March 2021, the company has achieved a lot among which include:

    i) The industry’s first high-yield aggregator.
    ii) The ability to scan multiple blockchains enables it to offer the best interest rate to its users.
    iii) The introduction of the Xend finance hackathon featured a lot of keynote speakers such as Mike Novogratz, Binance, Cointelegraph, CoinDesk, and Huobi.

    The company which is the first Defi platform in the industry for cooperatives, credit unions, and individuals is now recognized more as a global blockchain bank that everyone can use. The company is focused on closing the gap between financial services and decentralized blockchain.

    The company has allowed users to convert their local currencies into stable cryptocurrencies which makes them tackle the problem of currency inflation and devaluation. It has also granted the users to earn mouthwatering interests when they save on the platform.

    Before their mainnet launch, Xend finance secured a lot of investment from companies like NGC Ventures, Hashkey, and Tech Fusion which prompted the total investment in their company to rise to $2 million. They also through DAO maker generated approximately $144 million and these were assets that were staked by over 3,200 users with 14,452 issued tickets.

     

    Read Also : Flutterwave Denies Money Laundering Allegations

     

    During their mainnet launch, they introduced a token through a Token Generation Event (TGE) on Balancer which they called $Xend Finance and rewarded users who performed operations following Xend Finance protocol and rewarded developers who followed their Xend Finance’s Layer-2 Defi protocol with $1 million in prizes.

     

    Other Initiatives By Xend Finance

    In September, they organized a Xend Finance Defi Hackathon which was intended to improve Africa’s access to blockchain technologies and it was the biggest Blockchain Hackathon that took place in Africa.

    The company brought out judges from Binance, Polygon, Google, CoinDesk, and Huobi to determine who the winners of the competition were and the two winners who emerged from the Hackathon were:

    i) Lazeray Finance;
    ii) FarmGrid.

    The company didn’t stop at the hackathon, instead, they created the first cross-chain high yield aggregator on Binance which was a great relief for yield farmers, savers, and investors worldwide to access all the information they needed on the Xend Finance dashboard.

    The innovation of the cross-chain high yield aggregator was like cold water in the summer because it helped the platform monitor yields and transfer crypto which will enable them to find the best yield for its users.

    Finally, in December 2021 the company introduced the long-awaited mobile app which provides users the ease to convert local currencies into US dollars and the ease of performing this task earned them the position of one of the highest-rated apps on both the Google Play store and the Apple store.

    That same month they also introduced the African Decentralized Launchpad, which helps African companies connect with power investors worldwide.

    To empower the youths, Xend Finance started a campaign across various Nigerian universities in February 2022 to enlighten them on how to beat the problems that they encounter while trying to save the Nigerian Naira and they have gained over 2,000 new users with that campaign.

    They also won the “Most Outstanding Alternative Use of the Blockchain” award, this award is for celebrating those startups who use the Blockchain to achieve their solutions aside from cryptocurrency.