Starting today, you can buy, sell or store Aave [AAVE], Bancor [BNT], Storj [STORJ], Sushiswap [SUSHI], and Waves [WAVES] on our platform. We’ve also introduced USD Coin [USDC] and Dai [DAI] for all our customers who want to bank on stablecoins.
Our new tokens are now available in AED/SAR trading pairs and you can also use Tether (USDT), to trade a wider range of cryptocurrencies including Dogecoin [DOGE], Uniswap [UNI], Sushiswap [SUSHI], Aave [AAVE] and Waves [WAVES].
Plus, you can now enjoy a limited-time offer of zero pro trading fees on all 12 new tokens until January 5, 2022!
Decentralized finance (DeFi) platform, AAVE, allows people to directly borrow a range of cryptocurrencies, as well as lend assets in exchange for interest, without the need for trusted intermediaries. The network's governance token AAVE provides certain perks to the AAVE token owners with low network fees. Owners of AAVE have voting rights over decisions that determine the future of the platform.
Bancor network aims to incentivize users to lock crypto assets in pools in exchange for a share of the fees paid when they are bought and sold by traders. The network’s native cryptocurrency, BNT, facilitates the operation of an automated market maker (AMM), which is a system offering liquidity to markets without a financial institution to manage it directly. Bancor is touted as one of the more established AMMs to date.
Storj aims to store files in a decentralized cloud network instead of centralized data centers. It encrypts data, splits it into pieces, and distributes it on a global cloud network. Native cryptocurrency STORJ runs on Ethereum, and powers the Storj network. The network also enables people to use other individuals’ hard drive space to store files and even make their own hard drive space available for rent.
Based on the Ethereum blockchain, Sushiswap is a decentralized network and is completely community-driven. The platform offers an array of decentralized financial services like yield farming and lending. Owners of the network’s governance token, SUSHI can stake their tokens and earn interest on it. The token is also issued to liquidity providers in the network.
Waves allows users to build their own custom tokens and it aims to do so with minimal carbon footprint. The network’s native token, WAVES, which has a supply cap of 100 million tokens, facilitates in-app incentives. People who own WAVES cryptocurrency can determine who earns a share of fees paid for network transactions. Owning the token also enables individuals to participate in mining, among other community activities.
Known as the largest digital dollar stablecoin system, USD Coin is backed by cash and short-duration US Treasuries, which makes it redeemable 1:1 for US dollars. Circle is the stabelcoin’s main operator and describes USDC as being “fully regulated”. This stablecoin is natively supported on Ethereum as an ERC-20 token, Algorand as an ASA token, Solana as a SPL token, among others.
Multi-Collateral Dai (MCD) system, most commonly known as The Maker Protocol, describes DAI as a crypto asset that is resistant to hyperinflation due to its low volatility. The stablecoin token is “soft-pegged” to the US Dollar that enables it to maintain a value of $1.00. However, DAI is backed by collateral on the Maker platform, unlike centralized stablecoins that are typically backed by US dollars in a bank account.
What are stablecoins and here’s why most people choose them
These tokens mirror the value of government money. Most people choose stablecoins like the USDT crypto asset, or USDC that are pegged to the value of the U.S. dollar as they offer the stability of government-backed currency and the efficiency of cryptocurrency technology.
Typically, those who buy and sell crypto assets with USDT and other “stable” cryptocurrencies, don’t incur transaction costs and delays associated with traditional financial markets. Stablecoins also go beyond the world of crypto trading, with new use cases in traditional cross-border payments as well.
With the addition of these new tokens, we now offer over 30 crypto assets! You can browse all our tokens available for trading here.
Stay tuned with us as we aspire to support more and more projects on our mission to build an inclusive financial system!