Anchorage Digital Supports Five More DeFi Tokens
Diogo Mónica, Co-Founder and President
Institutions will be able to hold five more DeFi tokens in the security of the Anchorage platform: 1inch (1INCH), Bancor (BNT), Curve Finance (CRV), Ren (REN), and Sushiswap (SUSHI). DeFi investment has grown at an explosive rate with the equivalent of more than $75 Billion USD currently locked across the DeFi ecosystem at time of writing, more than nine times the value when we added support for Uniswap, Yearn, and others late last year. We’re proud to offer our clients access to the latest innovations in DeFi.
“Anchorage Digital has proven itself as a smart infrastructure provider with its eye on the future, which we at Bancor firmly believe is DeFi. With Anchorage’s custody support, more institutions can securely access BNT.”
- Guy Benartzi, Co-Founder, Bancor Protocol
Anchorage has been an ongoing supporter of DeFi, from our governance and staking services for institutional clients, to our early and numerous custody integrations for DeFi tokens, to making DeFi investment accessible by custodying assets for partners as we did for the Bitwise DeFi crypto index fund.
1inch is a decentralized exchange (DEX) aggregator platform that makes it easy to find the best exchange rates across Ethereum and Binance Smart Chain. DEX aggregators like 1inch eliminate the need to manually compare prices across multiple exchanges. 1inch was founded by Sergej Kunz and Anton Bukov and launched in 2020 with funding from companies such as Binance Labs, Galaxy Digital and Pantera Capital. 1INCH is the native governance and utility ERC-20 token.
Bancor is one of the earliest DEX innovators, having created the first Automated Market Maker (AMM) on Ethereum in late 2016. The protocol offers automated token trading through its contracts, while allowing token holders to earn passive income as a liquidity provider by depositing their tokens in the protocol. Bancor’s latest version, v2.1, enables users to provide liquidity with single-token exposure and full protection from impermanent loss. The Bancor Network Token (BNT) is an ERC-20 token that acts as the common reserve token in each decentralized trading pair on Bancor, and may be used for governance, liquidity provision and borrowing.
Curve Finance (CRV)
Curve is an exchange liquidity pool on Ethereum designed for efficient stablecoin trading and low risk supplemental rewards for liquidity providers. CRV is an ERC-20 governance and utility token that launched in August 2020 to reward liquidity providers and allow for governance of Curve’s Decentralized Autonomous Organization (DAO). Curve’s DAO will allow liquidity providers to vote on protocol decisions such as adding new pools.
Ren is an open protocol that enables the permissionless transfer of value between blockchains. Ren’s core product, RenVM, brings interoperability to DeFi by making it simple to transfer any token between blockchains. RenVM currently connects Bitcoin, Bitcoin Cash, Zcash, Filecoin, Terra, DigiByte, and Dogecoin to both Ethereum and Binance Smart Chain with plans to add more blockchains in the future. REN is an ERC-20 token that is required to run a validator node on the RenVM network. Ren was founded by software developers Taiyang Zhang and Loong Wang in 2017.
Launched in September 2020, SushiSwap is a community-led cryptocurrency exchange focused on DeFi. On SushiSwap, token holders can trade, lend, borrow, and power decentralized applications (dApps). SUSHI is an ERC-20 token used to reward staking and liquidity providers and for governance of important protocol decisions. Based on Uniswap, SushiSwap was created to improve on Uniswap’s design by adding more community-based features.
If you’re holding or plan to hold 1INCH, BNT, CRV, REN, and/or SUSHI, we’re here to help. If you’d like to learn more about Anchorage, please get in touch.
Holdings of cryptocurrencies and other digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There can be no assurance that any cryptocurrency, token, coin, or other crypto asset will be viable, liquid, or solvent. No Anchorage communication is intended to imply that any digital asset services are low-risk or risk-free. Digital assets are held in custody by Anchorage Digital Bank National Association and are not guaranteed or FDIC-insured. All loans are made or arranged by Anchorage Lending CA, LLC pursuant to California Finance Lenders Law License №60DBO-119768. Any depictions of simulated or past loan performance are not necessarily indicative of future results.