Most major DeFi tokens will be available for trading on Eos.
Eosfinex, the Bitfinex-backed non-custodial exchange running on the Eos (EOS) network, announced the listing of more than 15 ERC-20 tokens, primarily consisting of governance tokens of major DeFi protocols on Ethereum.
The listing is made possible by a collaboration with pNetwork, a crypto asset wrapping network that already brought cryptocurrencies like Bitcoin (BTC) and Litecoin (LTC) to Eos and Ethereum. The pNetwork tokens are distinguished by their lower case ‘p’ prefix, for example “pBTC” and “pLTC.”
The listing on Eosfinex will occur in several phases. The first, scheduled for Dec. 10, will bring Uniswap’s token (pUNI), Band Protocol (pBAND), Balancer (pBAL), Compound (pCOMP) and Synthetix (pSNX). The second, on Dec. 15, will launch trading for OMG Network (pOMG), Dai(pDAI), Aragon(pANT), and Loopring (pLRC). The final phase on Dec. 22 will add Ultra (pUOS), Augur (pREP), Basic Attention Token (pBAT), 0x (pZRX), and Kleros (pPNK). Maker (pMKR), Yearn.finance (pYFI), Chainlink (pLINK) and Aave (pAAVE) will also be launched at an unspecified date.
The listing of this wide array of tokens is aimed at bolstering the Eos DeFi ecosystem. A wide selection of assets would allow Eos-native lending and derivative protocols to access more liquidity, according to Eosfinex. Steven Quinn, head of product at Eosfinex, commented on the integrations:
“EOS and EOS-based organizations must deliver solutions to meet this challenge and strengthen the blockchain’s claim as the most performant, reliable, and cost-effective smart contract platform. The best way to do this is to support the next wave of DeFi innovation.”
Eosfinex is a hybrid non-custodial exchange that still uses a central matching engine — similar to some Ethereum exchanges based on layer two technologies.
PTokens work through a similar mechanism to the RSK sidechain federation for Bitcoin. A set of validators performs the peg-in and peg-out transactions with special hardware devices that guarantee protection from most forms of tampering.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.