OKEx affirms support for Decentralised Finance as it continues listing top DeFi Tokens
It’s been an eventful month for the OKEx community, as the past few weeks has seen the giant crypto exchange, list over four DeFi tokens. There obviously appears to be a bright future for a large number of DeFi platforms today, with OKEx continuously showing great support for decentralized finance by listing a handful of DeFi tokens in recent weeks, and also rolling out plans to list more of these tokens, in the nearest future.
A Brief Review on OKEx
For the benefit of some of my readers who have only little knowledge about OKEx, I would love to provide some insights about this major cryptocurrency exchange which has been consistently making headlines for years now.
OKEx is a Malta-based cryptocurrency exchange, which specializes in the exchange of crypto-to-crypto assets. OKEx is well-known across the cryptosphere as one of the largest exchanges in terms of both spot trading and derivatives and currently, provides advanced cryptocurrency financial services to millions of crypto traders, miners, and institutional investors in over 100 countries. The platform currently has one of the most extensive lists of supported cryptocurrencies, along with over 450 trading pairs and a really impressive trading volume, matched by only few players in the industry.
Aside from providing its users with one of the most decent interface of any crypto exchange, OKEx also provides users with the opportunity to diversify their investment portfolio using advanced tools for cryptocurrency mining, holding, and wallet management. To ensure the absolute security of users’ funds, OKEx wallets have the option of a seed phrase. Interestingly, OKEx also creates a dedicated wallet for each coin and stores it in its respective wallet as soon as you select it.
OKEx’s Recent Listing of DeFi Tokens
Decentralized Finance, seem to be taking the blockchain industry by storm, as in the past few months, we have seen a large number of DeFi projects begin to pull up some impressive numbers, most of which are already giving us a glimpse of what is to come in the nearest future. Although, there still appear to be huge grounds to cover, recent developments seem to suggest that with the pace at which the DeFi industry is growing, it’s only a matter of time before DeFi becomes a household name.
OKEx is currently one of the few exchanges who has continuously shown great support for DeFi. Within the past few weeks, over four DeFi tokens have been listed on OKEx, bringing the total number of DeFi tokens to be listed on the exchange to 16. Among the tokens listed, Aave and Aragon, are two of the most notable names on the list.
Aave (LEND)
Aave is a DeFi lending protocol that provides its users with the opportunity to lend and borrow a diverse range of cryptocurrencies using both stable and variable interest rates. This unique protocol has been designed to maintain a healthy and sustainable financial ecosystem whereby depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion. Unlike any of its competitors in the DeFi market, Aave includes notable distinguishing features that sets it miles ahead, with features such as; uncollateralized loans, rate switching, flash loan and unique collateral types.
Aave offers the most diverse range of DeFi collateral of any lending protocol on the market. Through a major collaboration with Nexus Mutual, Aave is backed by strong liquidity and the opportunity to protect users against smart contract risk. Aave leverages a native token; LEND, that enable users pay for fees on the network at discounted rates. LEND will also be staked for governance and as a first line of defense for outstanding loans, in the nearest future.
Aragon (ANT)
Aragon is a decentralized autonomous organization (DAO) built on the ethereum blockchain to permits the easy creation of DAOs by third parties using a toolbox of pre-programmed smart contracts. Aragon offers a wide range of DAO templates that gives everyone the opportunity to manage decentralized organization and customize, depending on how the DAO is intended to function. The Aragon Court is an integral part of the Aragon protocol, which is used for the governance of the Aragon network and to resolve disputes between DAOs and individuals on the network.
Aragon is on a mission to create a borderless and permissionless financial ecosystem by leveraging blockchain technology. This way, organizations can be more efficient than their traditional counterparts. ANT, is the platform’s central token. This unique token is used to govern every activity on the Aragon Network by allowing token holders to have voting rights and access rights .was built on the Ethereum blockchain with the objective to create value without borders or intermediaries. ANT token holders are in charge of governance on the Aragon network.
Final Thoughts
With the current pace in which the DeFi industry is moving, it is evident that DeFi is on the verge of making history on the blockchain sphere. The need for a fully decentralized financial system in our world, has long been overdue. It is truly a thing of joy to see that a large number of blockchain powered platforms are looking to disrupt the global financial industry, and find lasting solutions to most of the problems which the conventional financial system couldn’t solve. OKEx is largely in support of this major paradigm shift in the financial industry and through their massive support, there surely would be huge progress in the adoption of DeFi tokens globally.
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