OKEx, the leading crypto spot and derivatives exchange platform which is also a strong proponent of DeFi solutions continues to break its own record by rapidly evaluating and listing DeFi projects on its platform. Last week, it listed 8 promising projects including Band Protocol (BAND), JUST (JST), REN (REN), Reserve Rights (RSR), Yearn.Finance (YFI), Nexus Mutual (wNXM), YFII.finance (YFII) and Tellor (TRB).
OKEx opened spot trading pairs for these new tokens against USDT, BTC and ETH on August 28, 2020. The inclusion of these tokens closely follows the platform’s recent listing of Mantra DAO (OM), a DeFi solution for Web3 Foundation’s flagship Polkadot protocol. Incidentally, Polkadot’s DOT token went live on August 21, 2020, following the redenomination process, in adherence to a community vote.
The CEO of OKEx Jay Hao commenting on the new listings said, “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.”
The addition of 8 new tokens of leading projects that range from oracles and insurance to stability and liquidity providers in the DeFi space brings the total number of DeFi tokens on OKEx to 27. In order to meet the rising interest in DeFi projects among the trading community, the platform has also created a new DeFi Category on its website so that users can quickly find all the information in one place.
Listing of 8 tokens on a single day is a huge feat that happens rarely on mainstream crypto platforms. It also signifies the capability of OKEx to move quickly and adapt to the demands of its users, while reinforcing its support for DeFi projects.
Reiterating the platform’s commitment Mr. Hao said, “The decision to list eight new DeFi tokens today is far from the end of OKEx’s support for DeFi projects. We are committed to continuously helping the development of DeFi and further promoting the blockchain industry.” Further adding, “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.”
Meanwhile, OKEx continues to evaluate new and upcoming projects in the blockchain space as it looks forward to further expand its portfolio by listing tokens with the potential to make decentralized financial services available to the masses.