Wirex Lists Leading DeFi Coins AAVE, LINK, MKR, UNI and YFI on Platform

Digital payments platform, Wirex, has listed 5 new crypto assets from some of the leading DeFi players on its platform. AAVE, LINK, MKR, UNI and YFI are the latest to be integrated, and will be available to purchase fee-free for a limited time.

With many arguing that 2021 will be another extraordinary year for DeFi, the listing of these ERC-20 tokens marks a pivotal point in solidifying Wirex’s vision to democratise access to the benefits of crypto. At the forefront of financial innovation, these organisations are finding blockchain-based solutions to traditional financial services, addressing real-world problems and giving consumers more control over their money.

The addition of the coins will build on the 9 crypto and 9 traditional currencies that Wirex currently offers. Bridging the gap between the digital and traditional economies, Wirex users can seamlessly buy, hold, exchange and spend these currencies with their contactless Wirex card at over 61 million locations globally. Partnering Wirex’s crypto payments innovation with the best of DeFi technology with the addition of the new wallets will be an important step in further decentralising the financial system.

Aave is an open source decentralised and non-custodial protocol that has seen over $7 billion worth of total deposits as of April 2021. The Aave protocol allows for the supplying and borrowing of a variety of crypto assets, and the ability for users to earn interest on their crypto assets supplied to the protocol. AAVE token holders can participate in protocol governance by voting on updates.

Chainlink is an essential tool for merging blockchain technology with real-world applications. Using open-source technology called oracles, it aims to connect smart contracts and external data sources and provide them with accurate and reliable data outside of the blockchain. The LINK token helps to finance the growth of the Chainlink project.

The launch of an MKR wallet with Wirex provides the opportunity for users to acquire MKR (Maker) and governance rights over the Maker Protocol, a series of smart contracts that stabilise the value of DAI.

Uniswap is one of the largest decentralised exchanges in the world, with a core mission of helping users buy and sell crypto assets as easily as traditional currency exchanges. They achieve this by allowing individuals to deposit crypto assets through smart contracts, that traders can also access. Their native token, UNI, enables holders to vote on proposals that will improve Uniswap’s development and ecosystem.

Yearn Finance is a decentralised asset management platform that provides a suite of products ranging from liquidity aggregation, yield generation, lending, to insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI token holders as a Decentralized Autonomous Organisation.

Pavel Matveev, CEO and Co-Founder of Wirex explained that “we’re very excited to now offer AAVE, LINK, MKR, UNI and YFI for purchase and to build more bridges between DeFi and traditional financial infrastructure. Listing these tokens on our platform will give Wirex users more choice and freedom to spend crypto in the everyday, and the unique and enduring nature of these DeFi projects will help to raise mainstream awareness of blockchain and to open up the financial system.”

Complemented by the CEO and Founder of AAVE, Stani Kulechov said that: “DeFi is about accessibility, and Wirex makes it simple for users to onboard and use digital assets. Wirex’s commitment to putting DeFi in the hands of mainstream users is important to the development of the space, and we look forward to their continued innovation.”

The launch of AAVE, LINK, MKR, UNI and YFI are just the first of a series of listings this year, with plans to release further DeFi cryptocurrencies on the platform in the coming months.

Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *