Four new DeFi token listings on Poloniex
We’ve been passionate about supporting DeFi for a while and are constantly on the lookout for projects that are helping to push the space forward. We started by supporting ZRX, BNT, and KNC back in 2018 and have continued into 2020. So far this year, we’ve added ETHBNT, SNX, MKR, DAI, COMP, and cUSDT (and more coming soon!). With each of these projects, we try to go beyond our normal listing and offer our customers access to some of the utility of each project. We are currently one of the only exchanges to support the DAI DSR and to offer COMP distributions to our cUSDT holders.
DeFi tokens have been getting a lot of attention lately and we’re excited to continue our support by adding four more today! Aave (LEND), Balancer (BAL), Loopring (LRC), and Ren (REN) are the four newest DeFi tokens available on Poloniex.
You can now deposit LEND, BAL, LRC, and REN and trade LEND/USDT, LEND/BTC, BAL/USDT, BAL/ETH, LRC/USDT, LRC/BTC, REN/USDT, and REN/BTC.
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Token Stats
What is Aave?
Aave is a decentralized finance lending protocol built on Ethereum. Aave evolved from ETHLend, which launched in 2017, and allows users to lend and borrow a variety of ERC-20 tokens via a set of smart contracts. LEND, the native token of Aave, serves as both the governance token of the Aave platform and as an incentive for participants to place their assets in Aave liquidity pools. Deposit LEND now and get ready for trading.
What is Balancer?
Balancer is a non-custodial portfolio manager and automated market-maker exchange protocol. Balancer participants can create tokenized baskets of currencies that auto-rebalance over time, meaning they can hold a single token that represents a basket of assets., The protocol will buy and sell assets in each pool according to the price fluctuation of those assets. Balancer incentivizes liquidity providers to supply assets to liquidity pools with distributions of BAL, the native token of the Balancer protocol. Deposit BAL now and get ready for trading.
What is Loopring?
Loopring is a blockchain agnostic, decentralized exchange protocol. Loopring utilizes a Layer 2 scaling architecture called zkRollups, which allows for hundreds of asset transfers to be bundled into a single on-chain transaction using zkSNARKS (a type of zero-knowledge proof). With zkRollups, Loopring aims to provide a faster and lower fee solution for customers to exchange assets on-chain. The native token of Loopring is LRC, which is now listed as an ERC-20 token on Poloniex. Deposit LRC now and get ready for trading.
What is Ren?
Ren is an interoperability protocol that allows for the transfer of assets across blockchains. Using the Ren Bridge, assets such as BTC can be deposited into a contract and a wrapped version of the asset can then be issued on a new chain. Unlike other blockchain bridging solutions, assets can be sent cross-chain in a permissionless manner using Ren. The native token of Ren is REN, which is used as an incentive for Ren validators (“darknode validators”) to maintain cross-chain bridges. Deposit REN now and get ready for trading.
Have an idea of what you want us to list next? Fill out our listing application or let us know on Twitter!
