SwissBorg simplifies DeFi by listing 5 new tokens!


DGAP-News: SwissBorg / Key word(s): Product Launch
17.09.2020 / 12:10
The issuer is solely responsible for the content of this announcement.

SwissBorg simplifies DeFi by listing 5 new tokens!

We are excited to announce that SwissBorg is listing five new DeFi (decentralised finance) tokens in the Wealth App, making it the first time that investors can exchange these tokens with 17 fiat gateways and multiple exchanges. With the addition of these new tokens, the Wealth App now covers 270 fiat and crypto pairs!

The DeFi movement is an exciting evolution of blockchain-powered finance which is aligned with SwissBorg’s core principles of decentralisation and transparency.

DeFi’s pitfall is its complexity and the problems that follow when you use traditional instruments in a decentralised fashion without traditional safeguards. Additionally, the DeFi space is in its nascent stage and investment in DeFi tokens is, therefore, very high risk. While some call it a bubble, others see a fresh new decentralised space that allows loans and swaps without much interference from a centralised body.

At SwissBorg we bridge the off-chain and on-chain worlds to simplify the process of investing in this exciting new space.

Always keen to grow in this innovative space and listening to our community’s wishes, we have carefully chosen five promising DeFi Tokens to list on our Wealth App – Aave, Kyber Network, Ren, Compound and Dai.

Aave (LEND)

Aave is one of the largest DeFi tokens by market cap, with its price having skyrocketed by over 3,600% in 2020.

The Aave token can be used for fee reductions on the Aave protocol, which allows people to borrow and lend, including taking out loans without collateral and switching between flat and fixed interest rates. Token holders also get voting rights on Aave Improvement Proposals and benefit from Aave’s token burning program to reduce supply and protect the price.

Kyber Network (KNC)

Kyber Network offers decentralised exchange between ERC-20 tokens and can be integrated into any application to exchange cryptos between different parties. The network is also growing, with over 1.3 million trades and an increasing number of integrations using Kyber Network, making this an exciting investment opportunity.

Ren (REN)

REN is a DeFi token developed by the company Ren to support its network of virtual computers, RenVM. These networks contribute bandwidth, computational power and storage capacity to decentralised applications, thus supporting the DeFi ecosystem

RenVM helps users work with tokens from different blockchains, with one application being giving investors the ability to tokenise BTC on the Ethereum blockchain (the renBTC token). The REN token is used to register these networks (known as Darknodes) to help prevent identity fraud.

Compound (COMP)

Just launched in June, Compound is an ERC-20 asset that empowers community governance of the Compound protocol, which allows investors to deposit, borrow and earn interest on their crypto. By putting COMP tokens directly into the hands of users and applications, the ecosystem will be able to upgrade the protocol, stewarded by community governance.

Dai (DAI)

Dai is the world’s first decentralised stablecoin on the Ethereum network. It is pegged to the US dollar, offering the benefits of stablecoin to those who prefer decentralised finance. Managed by MakerDAO, it is the most-used asset as collateral on the lending platform, and a large flow of this token has already been observed.

Benefits of buying DeFi tokens with SwissBorg:

– Buy DeFi tokens with your local currency – the Wealth App currently supports 17 fiat currencies and is increasing this all the time

– Protect your investments with our cutting-edge, keyless MPC technology

– Get the best rate from multiple exchanges with our revolutionary Smart Engine, connected to the Binance, Kraken, HitBTC and LMAX exchanges

– Make smart investment decisions with hourly asset analysis powered by AI

– Manage your entire crypto portfolio from a single app – we are adding new tokens regularly!

These tokens are the first step in SwissBorg building the bridge between the CeFi and DeFi landscapes. Learn more about SwissBorg’s DeFi offering at https://swissborg.com/defi

17.09.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



Source link