Leading cryptocurrency spot and derivatives exchange OKEx has ramped up its support for decentralized finance by listing four DeFi tokens within one week, including Curve (CRV).
According to the press release, OKEx has officially became the first platform to list the DeFi coin CRV, which serves as the governance token for Curve Finance, a decentralized exchange facilitating low-slippage swaps of tokens at similar prices. Spot trading and deposits for CRV went live on Friday, with withdrawals expected to open at 7:00 AM UTC on Aug. 17.
First launched in January 2020, the report details Curve FInance as “one fo the most efficient token-swapping platforms in the DeFi ecosystem,” with a commitment to providing efficient trading with low slippage and fees. Data compiled by OKLink shows the total value locked on Curve to be over $506 million, ranking it first among decentralized exchanges (DEX) and fifth overall in the DeFi ecosystem.
OKEx chief executive officer Jay Hao called the emergence of Curve an indication of DeFi entering a new stage of development. The platform underwent a 124% increase in 24 hours as yield farmers took advantage of the exchange’s high APYs.
We’re seeing DEXs make important progress and provide users with the much-needed liquidity that was previously missing in the space. We’re also seeing the real potential of yield farming as investors seek to generate the highest returns on their assets.
He continued, saying OKEx was glad to support innovations like Curve and to be the first crypto exchange to list the CRV Token.
In addition to CRV, the exchange also listed decentralized finance projects Aave (LEND), Aragon (ANT) earlier in the week, with Serum (SRM) spot trading going live on August 14.
Aave operates like a veteran open-source and noncustodial protocol allowing for crypto deposits and loans. Aragon is a decentralized application (DApp) that allows for the creation of organizations, such as companies and NGOs, on the ethereum blockchain using the governance token ANT. In addition, Serum is the world’s first completely decentralized derivatives exchange offering users trustless cross-chain trading.
According to the release, OKEx now offers 16 DeFi tokens to meet the diverse needs of its global user base and to support the growing interest in the decentralized finance space.
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