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Cryptocurrency exchange OKCoin added ...

Cryptocurrency exchange OKCoin has added new DeFi tokens to its listing
CONTENT

  • OKCoin adds $ YFI, $ COMP and $ DOT to listing

  • Now three of these coins can be traded with USD

  • The site plans to add 15 more DeFi tokens

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Cryptocurrency exchange OKCoin adds three new tokens to the listing – YFI (yearn.finance), COMP Compound) and DOT (Polkadot)

On September 16, OKCoin announced the addition to the listing of three tokens that have recently increased significantly in price – YFI, COMP and DOT.

Cryptocurrency exchange OKCoin added ...

Now exchange clients from 150 countries, including the United States (except for New York State), will be able to trade these three coins against the dollar. Exceptions are Singapore, Brunei, Japan and the EU..

OKCoin becomes the second platform to support the token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More YFI paired with the US dollar following Coinbase Pro, which listed this token just the other day. The recent surge in the value of YFI and the hype around DeFi tokens in general did not leave indifferent the world’s largest crypto exchange Binance, which launched perpetual futures contracts on Yearn Finance at the end of last month..

Commenting on the decision to add the popular coin, OKCoin CEO Hong Fang said:

As a longtime proponent of digital assets, we firmly believe that the DeFi industry is a blockchain-based financial service that offers users access to an open, efficient and … More capable of decentralizing technology in the financial system. … The decentralized finance marketplace is re-creating an entirely new technology outside of the current banking system.

DeFi course

YFI, COMP and DOT are governance tokens. This means that holders can use them to vote for the future of the decentralized lending protocols that create them. Tokens of this kind are kept on the balance sheet for speculative purposes..

You can earn YFI and COMP through protocols. For example, by borrowing or borrowing money from Compound, you get COMP.

Cryptocurrency exchange OKCoin added ...

The hype around the COMP governance token has started since its launch in mid-June. Then, from the $ 97 mark by June 21, the coin rose in price to $ 348. YFI was born at the end of July. The creator of the token himself called it worthless. However, today YFI is already worth $ 36,057.

DOT stands out among the aforementioned peers. It supports Polkadot, an Ethereum competitor focused on interoperability rather than decentralized finance..

Going forward, OKCoin plans to add 15 more DeFi tokens to the listing, including Curve (CRV), Chainlink (LINK) and Synthetix (SNX).

 

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