CEX.IO News

CEX.IO Added 8 New DeFi Tokens

, October 15, 2020

We’re continuing to expand our marketplace with DeFi tokens to open more crypto opportunities. This time we’ve added:

  • Meta (MTA)
  • mStable USD (mUSD)
  • SushiSwap (SUSHI)
  • Creamfinance (CREAM)
  • Binance USD (BUSD)
  • DFI.Money (YFII)
  • REN
  • Band Protocol (BAND)

You can already deposit these tokens to your CEX.IO account. We’ll launch withdrawals and trading against USDT and ETH with a negative maker fee (-0.05%) soon. Later, you’ll be able to buy these tokens instantly with your card and trade them against USD.

 

📚 About the projects 

 

  • Meta (MTA)

Meta (MTA) is a governance token of the mStable protocol. The mStable protocol unifies stablecoins, lending, and swapping into a robust standard through its mASSETS. Each mASSET token is pegged to an asset such as a fiat currency, commodity, or cryptocurrency.

  • mStable USD (mUSD)

mUSD is one of the stablecoins issued by the mStable protocol. Anyone can use the USD stablecoins accepted by the mStable platform (currently DAI, TUSD, USDT, and USDC) to mint mUSD. Users can hold their mUSD to earn interest, earn ecosystem rewards by contributing liquidity, swap stablecoins with zero slippage, and redeem mUSD for supported stablecoins.

  • SushiSwap (SUSHI)

SushiSwap is a liquidity pool platform. It’s also an automated market making (AMM) decentralized exchange (DEX) on the Ethereum blockchain. Users can add their SUSHI tokens to liquidity pools and earn rewards. Initially, to encourage users to add liquidity, providers got SUSHI tokens by staking Uniswap Liquidity Pool (LP) tokens.

  • Creamfinance (CREAM)

Creamfinance is a decentralized lending and exchange platform featuring liquidity mining. C.R.E.A.M. Swap is the platform’s decentralized exchange protocol and a code fork of Balancer. The platform’s lending pool and governance is a code fork of Compound’s cToken model.

  • Binance USD (BUSD)

BUSD is a stablecoin backed 1:1 by USD and issued by the Binance exchange platform. BUSD runs as an ERC-20 token on Ethereum and as a BEP-2 token on Binance. The coin has been approved by the New York State Department of Financial Services (NYDFS).

  • DFI.Money (YFII)

DFI.Money (YFII) is a fork of yearn.finance (YFI). The platform currently provides a profit optimizing service for lending providers, moving providers’ funds between lending protocols such as Aave and Compound.

  • REN

REN (formerly Republic Protocol) is a protocol that provides access to inter-blockchain liquidity for all decentralized applications. At its core, REN relies on the RenVM, a trustless and decentralized virtual machine. RenVM is powered by decentralized virtual machines known as Darknodes that contribute their network bandwidth, computing power, and storage capacity.

  • Band Protocol (BAND)

Band Protocol offers a decentralized data oracle that connects smart contracts to external data and APIs. According to the developers, BandChain provides a decentralized, scalable, and cross-chain oracle solution for any decentralized finance application or smart contract. Users can customize and create a data oracle script and specify aggregation methods and security parameters.

 

Discuss DeFi projects with our Telegram community:

English: https://t.me/CEX_IO

Russian: https://t.me/CEXIORU

 

Note: MTA, mUSD, SUSHI, CREAM, BUSD, YFII, REN, and BAND are currently not available for US residents.

Disclaimer: The above content is for informational purposes only. You should not construe any such information or other materials as legal, tax, investment, financial, or other advice. Please study assets on your own before making any investment or trading decisions.

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