We are pleased to announce our plans to enter the Decentralized Finance (DeFi) market. To set the stage, we’ll list several DeFi tokens all at once so you don’t have to wait for the ones you are interested in:
- Aave (LOAN)
- UMA (UMA)
- Desire. Finance (YFI)
- Synthetix network token (SNX)
- Kyber network (KNC)
- Balancer (BALL)
- Curve DAO token (CRV)
- Packaged Bitcoin (WBTC)
- Dai (DAI)
- Real USD (TUSD)
We are currently making final preparations to add these tokens CEX.IO. We will 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 LEND. Due to the updates in the Aave network, we will be listing AAVE coins instead. The date of AAVE listing will be announced later.
🔥 Special offer for market makers
This summer we started paying you for bringing liquidity to our markets. We have introduced a negative maker fee on all crypto to USDT pairs, paying you 0.05% of the amount you trade. Good news! This offer also applies to the new tokens listed above.
In addition, we will pay you for trading some crypto to ETH pairs on CEX.IO! Participating couples: 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 purchase price is lower than the current market rate or that your sale price is higher than the current market rate.
- Wait for the order to be executed.
- Receive 0.05% of your order amount on your CEX.IO balance.
No extra steps or hidden costs! It’s a win-win game: By placing limit orders, you add liquidity to the CEX.IO marketplace, so we share some of the fees with you.
ℹ️ About the projects
Aave is a decentralized, open source, non-custodial money market protocol. Users can participate as savers or borrowers. Depositors provide liquidity to the market to generate passive income, while borrowers are able to borrow in over-collateralised loans using the liquidity from these pools.
UMA is a DeFi protocol on Ethereum that allows two counterparties to enter into a financial contract. The protocol secures contracts with economic incentives only, making them self-enforcing and universally accessible.
Yearn Finance is a DeFi platform with a range of products aimed at building an easy way to create high risk adjusted returns for asset managers. Yearn.finance currently offers a profit optimization service for lenders.
Synthetix Network Token (SNX)
Synthetix is an Ethereum-based derivative liquidity protocol. It allows the issuance and trading of synthetic Synthetic assets. 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 functions, including binary options and futures.
Kyber is an on-chain liquidity protocol that users can integrate into any application. It allows the exchange of tokens without the intervention of third parties. At its core, the Kyber network works in tandem with a system of reserves, i.e. liquidity pools, which act 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 at the same time. What makes Balancer unique, according to the developers of the project, is that the protocol supports up to eight assets per market (the weighting of supported assets is arbitrary), along with custom trading fees set by the pool creators.
Curve is an exchange liquidity pool on Ethereum that is specially designed for trading stablecoins. As a result, liquidity providers experience a minimal temporary loss. This can only happen in liquidity pools where users trade large amounts of tokens.
Wrapped Bitcoin (WBTC) is an ERC-20 token backed by Bitcoin in a ratio of 1: 1. To receive WBTC, a user requests tokens from a merchant. The merchant must then go through the KYC / AML procedures and verify the user’s identity. After that, the user and the merchant execute their trade. When we list WBTC on CEX.IO, you can easily buy it with your debit / credit card and trade it against USD, USDT and ETH.
Dai is a stablecoin built by the developers of the MakerDAO platform. The token is not backed by US dollars in a bank account. Instead, it is backed by collateral on the platform. MakerDAO is an open source project on the Ethereum blockchain. The Maker protocol allows users to create currencies. To generate Dai, the Maker Protocol accepts as collateral all Ethereum-based assets approved by MKR holders.
True USD (TUSD) was the second stablecoin to reach over 100 million stock (the first being Tether with USDT). TUSD is supported by several exchanges and developed by the Trust Token platform. It is a set of legal and technical standards to convert 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 to US residents.
Disclaimer: The above content is for informational purposes only. You should not interpret such information or other material as legal, tax, investment, financial or other advice. Study the assets for yourself before making any investment or trading decisions.