New Defi Tokens added to Nexus
RSR, DOT, CRV, and more!
At Nexus, we are excited about the future of crypto, and decentralized finance, or DeFi, is a tremendous part of that. As a result, we are prioritizing the onboarding of DeFi tokens, and working to build DeFi banking solutions for our users. Today, we’d like to focus on some of the DeFi tokens we’re adding, and why they’re so important.
DeFi is one of the hottest areas in cryptocurrency at the moment. DeFi revolves around the use of smart contracts, a way to remove intermediaries like banks or lawyers completely and use online blockchain technology instead.
Borrowing and lending on DeFi platforms give much better interest rates than traditional financial institutions and allows for possibilities like yield farming and liquidity mining. Governance tokens, awarded by their respective protocols, give their holders rights to vote on changes within the protocols. We want to keep you on top of what is driving momentum within the cryptocurrency space and are excited to list the following assets:
RSR — Reserve Rights Token
RSR is a utility token used to keep Reserve’s RSV stable at its target price of $1.00 and vote on governance proposals. It also allows token buyers the ability to purchase newly minted RSV as the network grows.
DOT — Polkadot Token
The DOT token is a utility coin that serves three distinct purposes within the Polkadot network: governance, staking, and bonding. Unlike other governance tokens, DOT is native to the Polkadot platform, and not an ERC20 token.
LINK — Chainlink
LINK is the digital asset token used to pay for services on the Chainlink network, built on Ethereum in accordance with the ERC20 standard for tokens. Chainlink currently has the highest market cap compared to all DeFi coins.
Also joining our listings this week:
YFI — Yearn Finance Token
YFI is an ERC-20 token that governs the vibrant yearn.finance ecosystem. Users can earn it by contributing liquidity to yearn.finance’s liquidity pool and use the token for platform governance.
CRV — Curve Dao Token
CRV is a governance token for the Curve protocol with time-weighted voting and value accrual mechanisms. Curve provides an automatic market maker (AMM) offering liquidity pools that focus on stablecoin pairs.
Available Trading Pairs
At Nexus, we constantly strive to bring you the widest possible array of tokens and coins to empower you to participate in the crypto movement. Sign up for a free account today to begin trading on Nexus!