- OKCoin trade lists DOT, COMP, and YFI
- The cryptos will be traded towards the US dollar
- The exchange plans to launch additional DeFi tokens future 7 days
A single of the primary Chinese electronic currency exchanges, OKCoin is signing up for the listing of other important exchanges to aid DeFi tokens. These days, OKCoin introduced in a Medium put up that it has mentioned Compound (COMP), Polkadot (DOT), and the Yearn.finance token (YFI). The exchange more disclosed that it will support extra DeFi tokens by subsequent 7 days.
OKCoin exchange joins the DeFi craze
COMP and YFI are DeFi tokens issued by well-known decentralized finance protocols, Compound and Yearn.finance, whilst DOT is the native cryptocurrency of Polkadot, just one of the major Ethereum blockchain rivals. The listing of the two DeFi tokens on the trade comes as component of the exchange’s strategy to aid the growth of the DeFi market.
The CEO of OKCoin exchange, Hong Fang, mentioned:
“As prolonged-phrase crypto proponents, we fundamentally believe that that DeFi shows the likely of decentralizing the whole tech stack of the monetary process. […] It is a fascinating continuation of the concept to construct ‘individual financial sovereignty’ from the ground up, which is what DeFi is performing now.”
At the second, the newly listed cryptocurrencies will be traded versus the US dollar on the OKCoin trade. It will reportedly be readily available for the exchange’s people in 150 nations supported nations around the world, besides for Japan, Brunei, Singapore, and some European countries.
Extra DeFi token listing
For each the announcement, the a few tokens ended up selected for listing on OKCoin trade amongst 15 other DeFi tokens below its critique. A single thing in frequent with the cryptocurrencies is that they are all governance tokens, which suggests that they characterize voting rights on their respective platforms. Next, the cryptocurrencies recently skyrocketed in price.
Throughout the launch, the COMP token traded at $97, however, its rate is now value much more than $152 on CoinGecko. YFI token is valued at all-around $36,000 which is increased than the early-phase selling price. Polkadot’s crypto, DOT recently climbed to the seventh-most significant cryptocurrency by sector cap. At the second, it trades all over $5.17 as the fifth-premier crypto.
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