The third largest DEX on Ethereum, Fluid, announced a rebrand: $INST is renamed $FLUID, and will enter cross-chain bridges, Stable Coin, RWA..

Decentralized Finance platform Instadapp's Fluid Protocol announced a rebranding and rise plan today, which plans to rename token INST to FLUID, implement a buyback program with up to 100% revenue, and launch a series of upgrades. INST coin price has seen a big pump of over 18% in a single day, possibly due to this news. (Background: Depth Analysis of Liquidity Acquisition Strategy: How to Improve TVL for Decentralized Finance Projects?) (Background: Bull Market is coming: 8 major trends worth following in the Decentralized Finance field) Instadapp, a Decentralized Finance platform, launched Fluid Protocol, which combines lending and trading, in February this year. It aims to subvert the traditional Decentralized Finance model, and its dynamic debt mechanism not only allows borrowing to earn liquidity trading fees but also improves capital utilization, demonstrating new possibilities in the lending market. Fluid announced a rebranding and rise plan. After only 9 months since Fluid Protocol was launched, Fluid has broken through a market size of $1 billion. This achievement is due to the launch of Fluid DEX, which has quickly become the third-ranked DEX on Ethereum Mainnet in terms of volume. In the initial three weeks with only three trading pools live, Fluid has achieved over $2 billion in volume since launch and its rise is projected to make it the second-largest DEX on Ethereum this month. Its wstETH-ETH and WBTC-cbBTC trading pools are also among the deepest liquidity pools on Ethereum. Regarding the future plan to rename token INST to FLUID, Fluid Protocol officials stated: Everything has moved to a new stage, and Fluid's future is far from just the present. We expect it to become the cornerstone of dozens or even hundreds of protocols. The following are the key elements that will build the foundation of the future financial system: Derivatives, Cross-Chain Interaction Bridges, Credit, Stable Coin, RWA (Real World Assets on the Chain), Intrerest Rate Exchange, Forex Market (Fluid Smart Debt Drives the Global Forex Market). But this is not all, we still have more goals to achieve! The following are short-term plans for the next 12 months: Volatile DEX pairs, new protocols built on Fluid, DEX live on L2s, upgrades to the ETH Lite Vault, more assets on Fluid, and DEX v2 (10x performance improvement). Coingecko data shows that INST coin price has seen a big pump of over 18.5% to $7.49 in the past 24 hours, possibly due to the announcement of the Fluid Protocol rebranding and rise plan. In the past 30 days, INST has risen by up to 309%, and its total Market Cap has reached $2.95 billion. Related reports: Cardano founder: BTC will dominate Decentralized Finance within three years, ADA rose 190% in a single month. SmartCon focuses on interoperability: Decentralized Finance / TradFi giants share future fusion vision and 3 major obstacles to overcome. BTC selling pressure is blocked! But the turning point emerges: Stable Coin inflows, Decentralized Finance clearing volume. <Ethereum's third-largest DEX> Fluid has announced a rebranding: $INST will be renamed $FLUID and will enter Cross-Chain Interaction Bridges, Stable Coin, RWA... This article was first published on BlockTempo, the most influential blockchain news media in D动区.