Cryptocurrency exchange OKCoin adds three new tokens to the listing – YFI (yearn.finance), COMP Compound) and DOT (Polkadot).
On September 16, OKCoin announced the addition to the listing of three tokens that have recently increased significantly in price – YFI, COMP and DOT.
Now clients of the exchange from 150 countries, including the United States (except for New York State), will be able to trade these three coins against the dollar. The exceptions are Singapore, Brunei, Japan and the EU countries.
YFI, COMP and DOT are governance tokens. This means that holders can use them to vote for the future of the decentralized lending protocols that create them. These kinds of tokens are kept on the balance sheet for speculative purposes.
You can earn YFI and COMP through protocols. For example, when you borrow or borrow money from Compound, you get COMP.
The hype around the COMP governance token has started since its launch in mid-June. Then, from the $ 97 mark by June 21, the coin rose in price to $348. YFI was born at the end of July. The creator of the token himself called it worthless. However, YFI is now worth $36,057.
DOT stands out among the aforementioned peers. It supports Polkadot, an Ethereum competitor focused on interoperability rather than decentralized finance.
Going forward, OKCoin plans to add 15 more DeFi tokens to the listing, including Curve (CRV), Chainlink (LINK) and Synthetix (SNX).