Aussie crypto exchange CoinJar lists 9 new tokens including AAVE, ALGO, EOS, KNC, SUSHI » CryptoNinjas
CoinJar, an Australian-based bitcoin/cryptocurrency exchange, announced today the listing of 9 new tokens and cryptocurrencies; the greatest number of coins ever introduced in a new update.
The nine new crypto-assets being added to CoinJar include:
- Bancor Network Token
- Curve DAO
- Kyber Network
- Paxos Standard
- Synthetix Network Token
“From today, these will be available to buy and sell through the CoinJar platform and complement our ever-growing lineup of digital currencies and tokens that members can send, receive and store using CoinJar.”
– The CoinJar Team
ALGO is the native token of Algorand. Algorand is a permissionless and decentralized public blockchain with low transaction fees. The Algorand project is unique as it aims to solve the Blockchain Trilemma — in other words, the balance between security, scalability, and decentralization.
EOS is the governance token of EOSIO. EOS is a decentralized blockchain that processes fast and free transactions, with the infrastructure allowing for smart contracts to be built on top of the blockchain and enabling developers to release dApps — similar to Ethereum. EOS utilizes the delegated proof of stake consensus model for a more efficient system and fast transaction speeds.
PAX is an ERC-20 stablecoin built on the Ethereum blockchain. Paxos Standard is unique as the digital currency is tied to the US Dollar with a 1:1 collateral, issued by the Paxos Trust Company and regulated by the New York State Department of Financial Services. As a digital dollar, Paxos Standard minimizes risk while capitalizing on frictionless and instantaneous blockchain technology.
AAVE is the ERC-20 governance token of the Aave protocol. It is an Ethereum based, open source DeFi protocol that allows users to earn interest on deposits and borrow assets. Aave is unique as it challenges the traditional lending systems of banks within a decentralized, peer-to-peer ecosystem.
Synthetix Network Token
Synthetix Network Token (SNX) is an ERC-20 token native to Synthetix. Synthetix is a protocol for issuing and trading synthetic assets on the Ethereum blockchain, allowing for assets like stocks, fiat currencies, and precious metals to be bought and traded using crypto. SNX powers the Synthetix protocol by acting as collateral for synthetic assets, enabling the protocol to support instantaneous and frictionless conversion between varieties of Synths without the liquidity issues faced by other decentralized exchanges.
Kyber Network Crystals (KNC) is the governance token of the Kyber Network. Kyber Network is a decentralized protocol built upon the Ethereum blockchain that aggregates liquidity and allows the exchange of tokens without intermediaries. Kyber Network can be integrated into crypto wallets, DeFi platforms, and dApps, which provides liquidity to allow for instant token swaps without the use of a trusted third party.
Curve DAO (CRV) is an ERC-20 governance token for Curve’s decentralized autonomous organization (DAO), launched in August 2020. Curve is a decentralized exchange primarily for stablecoins that utilizes an automated market maker (AMM) to manage liquidity which is built upon the Ethereum blockchain. As a DAO, the protocol’s management has been handed over to the community and holders can participate in Curve’s decision-making process through a time-weighted voting system.
Bancor Network Token
Bancor (BNT) is the intermediary token used by Bancor to initiate exchanges. BNT is both an ERC-20 token and an EOS token. Bancor is a protocol built upon the Ethereum blockchain that enables users to convert different currency tokens instantaneously and directly through a decentralized financial network. By using Ethereum’s smart contracts platform, Bancor gives immediate liquidity to any ERC-20 token without using an exchange, regardless of the number of buyers, sellers and trade volume.
SushiSwap (SUSHI) is an ERC-20 token that powers SushiSwap’s function as an automated market maker (AMM), launched in September 2020 as a fork of Uniswap. SushiSwap is a decentralized exchange that utilizes smart contracts to create markets for any given pair of tokens. SushiSwap removes middlemen during financial exchanges and uses SUSHI as an incentive for users, thereby tackling the issue of liquidity faced by traditional decentralized exchanges.