Bloom Wallet and Deepr Finance Integration Set to Revolutionize DeFi

• Deepr Finance has integrated Bloom Wallet to offer seamless asset management and streamlined processes, including lending and borrowing.
• The integration will also offer users a smoother, more intuitive interface that harnesses the best of both platforms.

Decentralised lending platform Deepr Finance has announced the integration of Bloom Wallet to revolutionise DeFi in the IOTA ecosystem.

Deepr released its testnet version early last year on Shimmer and has grown rapidly since. Bloom, on the other hand, is an ecosystem that offers users a one-stop shop for crypto, NFTs, Web3, DeFi and more. It supports IOTA and Shimmer and plans to integrate Ethereum and Bitcoin in the near future.

The two are now joining forces, as revealed in a recent announcement.

We’re thrilled to announce we are working on the integration of @bloomwalletio into #DeeprFinance, two innovative projects within the #Shimmer and #IOTA ecosystem. This collaboration is set to revolutionize the way you engage with #DeFi!

Why is this integration a game-changer?… pic.twitter.com/wCxUDQJ8N1

— Deepr Finance (@DeeprFinance) May 8, 2024

Deepr describes the partnership as a game-changer that will “revolutionise the way you engage with DeFi.”

With Bloom, Deepr will now offer seamless asset management, allowing users to engage directly with and manage their tokens through the wallet. This will streamline Deepr’s borrowing and lending processes, making it easy for the newbies to get started with DeFi.

Bloom has always prioritised user experience. This will come in handy in the integration, with Deepr pledging to leverage Bloom’s expertise to redefine its user experience.

It stated:

Enjoy a smoother, more intuitive interface that combines the best of both platforms, making DeFi more accessible and enjoyable.

Yet another benefit of the integration is cross-platform synergies. The two will leverage each other’s strengths “to optimise your DeFi strategies and maximise your returns.”

This integration exemplifies synergy in the DeFi space, aiming to provide the ultimate user experience.

Bloom also recently announced its integration into the Rusty Robot Country Club.

IOTA Continues to Grow

The Deepr Finance-Bloom partnership is the latest manifestation of the continued growth in the IOTA ecosystem. Just recently, LunarStorm announced the launch of LunarChain, its foray into decentralised gaming powered by IOTA, as Crypto News Flash reported.

IOTA has also made great strides in other applications, especially with the tokenisation of real-world assets. This week, the IOTA Foundation was one of the official strategic partners at the AIM Congress, the Middle East’s most prominent investment conference. Founder Dominik Schiener was among the speakers, and he delved into how tokenisation can unlock new value and opportunities.

📍We’re at @AIM_Congress, sharing how #IOTA and our partners – @TLIP_io, @TokenySolutions, @wef, and @realizefinance – are set to shake up the world of #RWA tokenization. Read more about it 🔗https://t.co/jMQujrWlQd, or skim the 🧵⤵️#AIMCongress2024 pic.twitter.com/l85aYSYOIT

— IOTA (@iota) May 8, 2024

The growth is expected to accelerate when IOTA 2.0 launches later this year. As Crypto News Flash reported, experts project that the testnet is on the horizon. IOTAcore, the node software underpinning the protocol, is already seemingly ready, with the developers expected to release it on the testnet soon.

Other aspects of the upgrade, including the wallets, token protocols and Layer 2s, are in the final stages of development. Firefly, for instance, has resolved over 95% of the issues raised and is expected to be ready for the upgrade by the end of the month.

Meanwhile, IOTA trades at $0.219, trading sideways over the past day and gaining marginally over the past week.

Recommended for you: