We’re pleased to announce our plans to enter the Decentralized Finance (DeFi) market. To set the stage, we’ll list several DeFi tokens at once so you don’t have to wait for those you’re interested in:
- Aave (LEND)
- UMA (UMA)
- Yearn.finance (YFI)
- Synthetix Network Token (SNX)
- Kyber Network (KNC)
- Balancer (BAL)
- Curve DAO Token (CRV)
- Wrapped Bitcoin (WBTC)
- Dai (DAI)
- True USD (TUSD)
Currently, we’re making final preparations to add these tokens on CEX.IO. We’ll announce when they are available on our platform. Get ready and follow the updates!
Update on October 13, 2020
The mentioned coins have already been added to CEX.IO except for LEND. Due to the updates in the Aave network, we’ll list AAVE coin instead. The date of listing AAVE will be announced later.
🔥 Special offer for market makers
This summer, we started paying you for bringing liquidity to our markets. We introduced a negative maker fee for all crypto-to-USDT pairs, paying you 0.05% of the amount you trade. Good news! This offer will also apply to the new tokens listed above.
Moreover, we’ll pay you for trading a number of crypto-to-ETH pairs on CEX.IO! Participating pairs: UMA/ETH, YFI/ETH, SNX/ETH, KNC/ETH, BAL/ETH, CRV/ETH, WBTC/ETH, DAI/ETH, TUSD/ETH
The rules are the same as for our summer offer:
- Place a limit buy or sell order with a participating pair.
- Make sure your buy price is lower than the current market rate or your sell price is higher than the current market rate.
- Wait for the order execution.
- Get 0.05% of your order amount to your CEX.IO balance.
No additional steps or hidden charges! It’s a win-win game: by placing limit orders, you add liquidity to the CEX.IO marketplace, so we share part of the fees with you.
ℹ️ About the projects
Aave is a decentralized, open-source, non-custodial money market protocol. Users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn passive income, while borrowers are able to borrow in overcollateralized loans using the liquidity from these pools.
UMA is a DeFi protocol on Ethereum that allows any two counterparties to create a financial contract. The protocol secures contracts with economic incentives alone, making them self-enforcing and universally accessible.
Yearn Finance is a DeFi platform with a set of products focused on building a simple way to create high risk-adjusted returns for asset depositors. Yearn.finance currently provides a profit-optimizing service for lending providers.
Synthetix Network Token (SNX)
Synthetix is an Ethereum-based derivatives liquidity protocol. It enables the issuance and trading of the Synth synthetic asset. Synth is an ERC-20 token that tracks the price of an external asset. For example, the sUSD token tracks the price of the US dollar. According to Synthetix developers, the protocol can enable a variety of trading features including binary options and futures.
Kyber Network (KNC)
Kyber is an on-chain liquidity protocol that users can integrate into any application. It enables token exchange without involving third parties. At its core, the Kyber Network interacts with a system of reserves, i.e. liquidity pools, working as a pre-automated market maker on the blockchain.
Balancer is another automated market maker and liquidity pool protocol built on Ethereum. It allows users to provide liquidity for multiple assets simultaneously. What makes Balancer unique, according to the project’s developers, is that the protocol supports up to eight assets per market (weighting of supported assets is arbitrary), along with custom trading fees set by pool creators.
Curve DAO Token (CRV)
Curve is an exchange liquidity pool on Ethereum that’s specially designed for trading stablecoins. Due to this, liquidity providers experience minimal impermanent loss. This can only occur in liquidity pools where users trade large volumes of tokens.
Wrapped Bitcoin (WBTC)
Wrapped Bitcoin (WBTC) is an ERC-20 token backed by Bitcoin at a 1:1 ratio. To receive WBTC, a user requests tokens from a merchant. The merchant should then pass KYC/AML procedures and verify the user’s identity. After that, the user and merchant execute their swap. When we list WBTC on CEX.IO, you’ll be able to simply buy it with your debit/credit card and trade it against USD, USDT, and ETH.
Dai is a stablecoin built by the developers of MakerDAO platform. The token isn’t backed by US dollars in a bank account. Instead, it’s backed by collateral on the platform. MakerDAO is an open-source project on the Ethereum blockchain. The Maker Protocol enables users to create currencies. To generate Dai, the Maker Protocol accepts as collateral any Ethereum-based asset that has been approved by MKR holders.
True USD (TUSD)
True USD (TUSD) was the second stablecoin to reach a supply of more than 100 million (the first was Tether with USDT). TUSD has been supported by a variety of exchanges and was developed by the Trust Token platform. It’s a set of legal and technical standards for turning real-world (offline) assets into asset tokens. For example, gold can be converted to GoldToken and dollars to DollarToken.
Discuss DeFi projects with our Telegram community:
Note: LEND, UMA, YFI, SNX, KNC, BAL, CRV, WBTC, DAI, and TUSD 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.