OKEx listing mode is on the exchange as 8 DeFi tokens were added at once and the company will support the new DeFi field by further developments and more listings in the future so let’s read more in the upcoming altcoin news today.
The popular cryptocurrency exchange OKEx doubled down on the DeFi-related endeavors by listing new assets from the field. The company CEO Jay Hao promised that his exchange will continue to look out on the Defi field and will act accordingly to the growing trend. The Malta-based derivatives crypto exchange announced the addition of eight promising Defi tokens as OKEx listing mode is still on. This way the exchange will reinforce the commitment to expand the Defi economy by adding assets like JUST, BAND, REN, RSR, YFI, YFII, and TRB.
Here's how to get to #OKExDeFi Trading Zone 🖥
— OKEx (@OKEx) August 30, 2020
OKEx explained the addition of these tokens because they cover a range of multiple DeFi innovations from oracles and insurance to stablecoins and liquidity providers. The spot trading against USDT opened up on August 28th while the pairs against BTC and ETH opened up an hour later. By introducing these tokens, OKEx increased the total number of the tokens to 27 and the exchange enabled a designated new DeFi category on the website allowing traders to find more information about these tokens quickly.
Back in June, Coinbase also announced support for the popular DeFi project Compound (COMP), while Huobi Global also listed the Band Protocol (BAND) on August 10, and the Poloniex exchange listed the Decentr token in July 2020.
Some of these coins listed by OKEx reacted with immediate price action as Yearn. Finance leads with 26% surge to $19,000, BAND by 9%, NXM by 5%. Following the announcement, the CEO of the exchange Jay Hao said that there are no secrets that the company has a bullish stance on DeFi and its overwhelming promise as an alternative finance system and that the exchange will continue supporting the sector by exploring even more tokens:
“However, listing DeFi tokens isn’t the only way that OKEx is contributing to growing the DeFi space. We are very actively working to develop innovative projects such as OKEx Oracle and OKChain to build out this space together. We believe that collaboration is vital for DeFi’s longevity, and we’re thrilled to see more and more innovative projects breaking grounds in this area.”
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