OKEx crypto exchange continues to aggressively list DeFi tokens, in a push to meet client demand. In a year that DeFi has seen significant growth, OKEx is taking the lead among top crypto exchanges in terms of transitioning into DeFi. The leading exchange is also implementing tools that create the perfect infrastructure for DeFi investors and traders.
OKEx DeFi Token Listings
As DeFi continues to experience striking growth in 2020, OKEx is committed to building out its DeFi token offerings. According to recent reports, the top spot and derivatives exchange has introduced 8 additional tokens in one day. Trading pairs will now be able for the following DeFi tokens:
- Band Protocol ( BAND )
- JUST ( JST )
- REN ( REN )
- Reserve Rights ( RSR )
- Yearn.finance ( YFI )
- Nexus Mutual ( wNXM )
- YFll.finance ( YFII )
- Tellor ( TRB )
DeFi Growth
Despite Bitcoin experiencing exceptional growth this year, most of the talk has been around DeFi. Decentralized finance is cutting out centralized parties in finance, and introduces peer-to-peer ecosystems through smart contracts. With over one billion people being unbanked around the world, DeFi is creating “open finance,” and is offering game changing protocols in areas like lending. As mentioned in a previous report, the DeFi markets have seen unprecedented growth since 2017. According to DeFi Pulse, a $4 market in August 2017 is now valued at nearly $8 billion.
DeFi Potential
During the announcement by OKEx to add 8 additional DeFi tokens, the CEO Jay Hao stated that:
“OKEx has been keenly observing the DeFi market dynamics and trying our best to collaborate with high-quality innovative DeFi projects that show the most potential. We are very encouraged to see so many excellent projects emerging in the market, as this also indicates that the DeFi space is developing rapidly.”
DeFi Exposure And Tools
OKEx is giving their users the ability to easily diversity in DeFi tokens. With the most recent announcement to add 8 projects, it now brings OKEx’s total DeFi offering to 27 tokens. The exchange is committed to taking an aggressive approach, and is leading the way into DeFi among other top tier marketplaces.
Additionally, the exchange has implemented DeFi tools for their user base. If a user comes to the exchange to pursue DeFi tokens, they also have access to “DeFi Category,” which is a page that displays informative information for traders and investors.
With a positive outlook on the future of decentralized finance, OKEx will continue to pursue the sector for its millions of users that now expands across 100 different counties. Regarding the future, Jay Hao also stated that:
“We continue to be very optimistic about the development prospects of DeFi. We believe that DeFi will become an excellent supplement to the traditional financial system thanks to its core qualities of high-efficiency, high-security, low-friction and low costs.”
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