Crypto exchange titan Crypto.com (CRO) adds support for two altcoins for decentralized finance (DeFi) as the digital asset market experiences a widespread retreat.
According to a blog post by the company, Singapore-based exchange platform Convex Finance (CVX) is announcing, and Ethereum-based protocol based on the StablecoinExchange Curve Finance (CRV) and Trader Joe (JOE) based, and Avalanche-based automated market maker (AMM) and decentralized exchange (DEX).
Convex, which offers no withdrawal or minimum performance fees, rewards liquidity providers and CRV stakers on the Curve Finance exchange. Its native utility token CVX can be invested in Convex Finance to earn a share of the revenue from Curve’s liquidity pool and vote on the governance of CVX.
CVX is trading hands at $ 44.54 at the time of writing, a 9.5% decrease from its seven-day high of $ 49.14.
TraderJoe, a platform that combines decentralized exchange services like token swapping with lending and leveraged trading, also recently received support from US crypto giant Binance, which caused the price to jump from $ 2.17 to $ 2.62, which corresponds to an increase of 17%.
Its native governance token JOE can be used to vote on the direction of the platform and can also be used for protocol rewards.
TraderJoe has since stabilized and is trading at $ 2.30 at the time of writing.
Crypto.com recently made waves in the mainstream after acquiring the naming rights to the iconic Los Angeles sports stadium in a staggering $ 700 million deal last month. It is now known as the Crypto.com Arena.
Crypto.com advises that neither CVX nor JOE will be available to customers in the US or Singapore.
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Source: Crypto News Deutsch