The CEX.IO platform welcomes 12 new DeFi tokens this week: Aave (AAVE), Augur (REPv2), Bancor (BNT), Zap (ZAP), Serum (SRM), Aragon (ANT), PAX Gold (PAXG), Ocean Protocol (OCEAN), Storj (STORJ), Kava.io (KAVA), Kusama (KSM), and Value DeFi Protocol (VALUE).
Deposits and withdrawals of these 12 new DeFi tokens are going live this week. By the way, we’ll launch them alongside our special offer for trading against USDT — a negative maker fee (-0.05%). Yes, you’ll get a bonus for adding liquidity to our DeFi markets!
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📚 Information about the projects
Aave is a decentralized non-custodial money market protocol. Users can take part in the Aave network as depositors or borrowers. Depositors provide liquidity to the market to earn passive income. While borrowers can borrow overcollateralized loans using the liquidity from these pools.
Augur is an open platform that provides prediction markets for any kind of event. The platform verifies real-life events that can’t be confirmed by a single independent source. The project recently completed its v2 upgrade by integrating DeFi features into the platform.
Bancor is a decentralized exchange protocol. It allows for the creation of liquidity pools to trade assets. This became possible by the creation of a smart token named Bancor Network Token (BTN). According to Bancor developers, BNT has an embedded converter. This feature allows users to exchange any token.
Zap is a decentralized oracle platform. It allows users to create, publish, and subscribe to smart contracts and data streams that are compatible with DApps. The team behind ZAP believes that its principal feature is the possibility to leverage real-world data on the blockchain. Some of use cases of ZAP include insurance, shipping, and DApps.
Serum is a decentralized cryptocurrency exchange built on the Solana blockchain. Almost anyone can create their own DEX on top of the Serum DEX and support more trading pairs. The detailed instructions outlined in Serum Academy. There are over 18 DEXes built with Serum so far.
Aragon is an open-source project that offers tools for creating decentralized organizations on Ethereum. The project also has its own blockchain infrastructure called Aragon Chain. When building Aragon, developers used Tendermint and the Cosmos SDK.
PAX Gold (PAXG)
PAX Gold (PAXG) is a digital asset issued by Paxos Trust Company. Each PAXG token is backed by one fine troy ounce of a London Good Delivery gold bar (400 oz) that is stored in Brink’s vaults. It follows that if you own PAXG, you own the underlying physical gold, held in custody by Paxos Trust Company.
Ocean Protocol (OCEAN)
Ocean Protocol is a blockchain-based organization. It aims to decentralize and democratize the global data exchange in a secure and confidential manner. Users connected to Ocean’s network can launch their own marketplaces on Ocean. Data providers can use the network to monetize data while maintaining privacy and control.
Storj provides DaaS (Data-as-a-Service) to businesses and consumers. It uses client-side data encryption and file sharding to securely store files on a peer-to-peer network. Each file uploaded to the Storj system is encrypted and split into many parts. Then, these parts are stored by multiple storage service providers or Node Operators. Providers receive a reward with STORJ tokens for their services.
The Kava platform offers collateralized loans based on a variety of cryptocurrencies. The project team believes that Kava can provide collateralized debt positions (CDPs) on cryptocurrencies. Kava is developing a stablecoin backed by Ripple. They will use it to power these CDPs.
Kusama is Polkadot’s canary network. It acts just like a canary by warning developers of vulnerabilities and weaknesses in the Polkadot code base. A key difference between Kusama and Polkadot is that Kusama has modified governance parameters. It allows for faster network upgrades.
Value DeFi Protocol (VALUE)
The Value DeFi protocol is a fork of yearn.finance (YFI). The project aims to make yield farming finance accessible to all users, whether they’re big whales or small players. Its products include a governance token (VALUE), an automated market-maker exchange (Value Liquid), and yield aggregators (Value Vaults).
Discuss your favorite DeFi tokens with our Telegram community:
Note: AAVE, REPv2, BNT, ZAP, SRM, ANT, PAXG, OCEAN, NXM, STORJ, KAVA, KSM and VALUE 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.