Binance’s DeFi Staking Platform Goes Live with Crypto Dai and Kava

2020-8-21 11:18

Coinspeaker
Binance’s DeFi Staking Platform Goes Live with Crypto Dai and Kava

Crypto exchange Binance announced that its Decentralized Finance (DeFi) staking platform is now live for trading. On Wednesday, the Binance staking platform announced support for DAI, the stablecoin generated through loans on the DeFi platform MakerDao.

Later on Thursday, Binance announced support for the second asset Kava to its staking product. Kava is basically a staking platform backed by Huobi, Binance and OKEx. It also has a native crypto token with the same name. With this development, Kava users no longer need to interface with the Kava app. Instead, the users can directly go through Binance’s DeFi staking platform.

Speaking to CoinDesk about the new DeFi platform, Binance CEO Changpeng Zhao said:

“Our users have been requesting Binance.com giving them access to DeFi. Binance prioritizes user experience and in the spirit of the community, Binance.com now offers direct integration into these DeFi products allowing the products’ value to flow out to Binance.com users and that’s happening with KAVA and BNB to name a few.”

Kava’s CEO and co-founder, Brian Kerr, said that the current DeFi sector is just “tip of the iceberg” when it comes to adoption. Staking in DeFi would allow users to participate in different issues by voting through a Proof-of-Stake model. The staking happens using smart contracts and also allows users to earn passive rewards for locking their crypto.

Binance and Other Crypto Heavyweights Remain Optimistic on Future of DeFi

Famous crypto personalities have already started shifting their attention towards the DeFi market. DeFi offers quite promising uses cases by overhauling the traditional financial systems and establishing more transparent and efficient systems in place.

Recently in an interview with the Boxmining YouTube channel, Binance CEO Changpeng Zhao expressed his confidence in DeFi. “I think DeFi is a really innovative space and I think that’s really good. Initially, when people talk about DeFi they think about lending so you can lend your coins but now, you lend the coins to provide liquidity,” he said.

CZ also admitted that Binance has taken up a number of Defi initiatives at its ends. Besides, it is also working on diverse DeFi projects. TRON founder Justin Sun also spoke about the upcoming DeFi revolution at the 2020 Global blockchain Eco-Conference hosted by Alchemy Pay.

Sun said that Tron Foundation has already been working on DeFi since the beginning of 2020. “The next DeFi industry opportunity lies in TRON. I believe that by the end of this year, TRON will advance to become one of the top protocols for DeFi and stand toe-to-toe with Ethereum,” Justin Sun said.

Binance’s DeFi Staking Platform Goes Live with Crypto Dai and Kava

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Sharpe Platform Token (SHP) на Currencies.ru

$ 0.0004599 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0004599 - H: $0.0004599
Капитализация $8.007k Rank 99999
Доступно / Всего 17.41m SHP

platform staking defi dai binance crypto goes

Источник: coinspeaker.com

platform staking → Результатов: 120


AVA Labs’ Avalanche blockchain raises $42M in public token sale

The team of Ava Labs announced today the completion of the Avalanche token sale, which raised $42M through the sale of its native token, AVAX. The Avalanche Token (AVAX) is a utility token for securing the network through staking, platform fees, and providing a basic unit of account between subnets–a set of nodes that validate […] CryptoNinjas » AVA Labs’ Avalanche blockchain raises $42M in public token sale

2020-7-22 20:46


Bitcoin Suisse Adds Tezos (XTZ) Staking & Custodial Support to Institutional Grade Vault

Bitcoin Suisse – the Swiss crypto brokerage firm – has announced custodial and staking support for Tezos on May 19th, in order to lure more institutional clients to its platform. Staking has been the hottest trend in the crypto space this year, given major exchanges across space have added support for Tezos [like Bitfinex and […]

2020-5-22 19:19


Binance Crypto Debit Card Review – When Do We Get It?

It is no secret that Binance is a crypto tentacle with its feelers sprouting across the whole industry. Started out as a centralized spot exchange, Binance burgeoned into other verticals as it launched its own BNB coin, chain, “decentralized exchange”, platform for ICO launches – Binance Launchpad, staking as a service, margin and futures trading […]The post Binance Crypto Debit Card Review – When Do We Get It? appeared first on CaptainAltcoin.

2020-4-4 19:57


nOS blockchain app and development portal launches public testnet

nOS, a blockchain platform with built-in DApp store allowing for fair and transparent distribution and discovery of web-apps, announced today the official launch of the nOS public testnet. Users can now test the blockchain’s latest features such as staking testnet NOS, vote for validators, build blockchain code and applications, launch validator nodes and collect block […] CryptoNinjas: nOS blockchain app and development portal launches public testnet

2020-2-7 13:57


дальше еще 71 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Injective Generated More Revenue Than BNB Chain, Avalanche In Q3 2024, Next $50?

Injective Protocol, a DeFi-centric platform using Cosmos tech, is gaining traction, looking at the gas fee revenue distributed to its validators in Q3 2024. While INJ, the native currency of the protocol, is under pressure, cooling off after rallying to as high as $52 early this year, the recent development is a huge confidence boost.

Kucoin and ByBit listings send CATS price skyrocketing

The CATS meme coin, built on the TON blockchain, has seen an extraordinary surge in value, skyrocketing by 691% following the announcements of its listing on various major cryptocurrency exchanges. The price soared from $0.