Gate.io Lists Over 45 DeFi Tokens; DeFi Ecosystem on Its Public Chain to Launch Soon
Global digital asset exchange, Gate.io, has listed over 45 DeFi projects in the past three months. The company added that it continues to list the most innovative DeFi projects for over 3 million Gate.io users worldwide.
Based on the recent volumes some of the top-performing tokens on Gate.io are UNI, AMPL, YFI, CRV, with over 2 million (combined) trading volume. The information on DeFi coins is displayed under the “DeFi” section of the website for users to find the required information on their favourite DeFi project, the exchange informed.
Spot trading pairs of over 45 DeFi tokens against USDT are available. The exchange platform also recently introduced perpetual contract trading for Aave and KSM tokens, supporting up to 20x leverage.
Users can also trade long and short ETFs for BTM at Gate.io; BTM long and short positions will track the underlying asset’s price change range, bringing 3x change
in the price of the underlying asset spot market.
“Gate.io’s focus has been selecting high-quality and innovative DeFi projects to provide our users with the most interesting Defi options. Since August this year, we have also been working on our DeFi ecosystem. It is being built on our highly-secure public chain, GateChain. Our DeFi network will feature a stablecoin (USDG), Decentralized Exchange (DEX), Decentralized loan, and liquidity mining,” Marie Tatibouet, CMO at Gate.io said in a statement.
Soon to be launched Ethereum 2.0 is expected to bring considerable improvements in transaction speed, throughput, and interoperability. The DeFi community is also interested in the technological changes in its proof of stake mechanism on which most of the DeFi coins are built.
“We could see a more pragmatic and scalable form of decentralized finance with Ethereum 2.0. Right now, Ethereum can only manage about 25 transactions per second, which is not enough for DeFi protocols anyway, and more so, given the DeFi demand surge we witnessed in the last few months,” Marie added.
While Ethereum 2.0 has been one of the highly anticipated events in 2020, it will be interesting to see its effect on the overall cryptocurrency ecosystem, including DeFi.