We are happy to announce that you can now trade 7 freshly added crypto assets on Rain, among which are renowned projects’ tokens like APE, GALA, DYDX, and many more. This makes it almost 70 assets tradable on Rain and that also with a 0% trading fee. To help you get started, we have summarized all you need to know about our new listings below, as well as some interesting facts about the projects.
TrueFi is a DeFi credit protocol that facilitates uncollateralized loans. Since its launch in 2020 it has offered fixed-term, zero collateral loans exclusively to institutional borrowers. It offers an alternative to the collateralized and overcollateralized lending markets in DeFi. The way this works is because the loans are approved using on-chain credit scores. TRU is the native token and is an ERC-20 token on the Ethereum blockchain. In the protocol, it is used for governance by holders of the TRU token. Holders stake TRU to approve or reject new loans as a governance vote in the TrueFi protocol.
Gala Games (GALA) is a gaming ecosystem, and full fledged NFT marketplace focused on the blockchain based, Play-to-Earn (P2E) gaming category. Gala Games intends to combine the power of blockchain technology with proven mechanics of traditional gaming to create a community governed ecosystem encompassing many gaming related applications and functionality. The ecosystem’s novel functionalities include in-game items being verifiably owned as Non-Fungible Tokens (NFTs) by players who acquire them, meaning that these items are not only usable for gameplay, but can be also traded on the platform. In the Gala ecosystem players can monetize their in-game assets and proceeds by selling them for GALA tokens. To earn GALA tokens, users can also choose to operate Gala Nodes, including nodes dedicated to specific games within the Gala ecosystem, which contribute to the security of the network.
Civic (CVC) is an identity management platform based on blockchain technology that provides individuals and organizations with the tools they need to safeguard and manage their confidential information. The system aims to redefine how the world thinks about identity verification by offering users greater privacy rights and enabling them to enjoy a variety of services without having to give up control over vast amounts of sensitive data. Civic's identity protection method makes use of blockchain technology to approve account usage in perfect sync with real time requests. Also, data is only shared with Civic associates after the user has given permission. Users can approve such actions by submitting a biometric signature through the Civic app. CVC, the network’s native token, is mainly used for all kinds of fees that occur throughout the usage of the ecosystem. CVC can be earned by validating documents that are essential parts of Civic’s offering.
Nexo (NEXO) is a platform that enables its users nearly instant access to crypto-backed lending and borrowing of traditional, fiat currencies (e.g., USD, EUR, CAD), or various stablecoins. Essentially, the system allows any holder of the supported tokens—Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP (XRP)—to put up their crypto funds as collateral and receive mostly conventional liquidity in return. The loans are managed by purpose-built smart contracts and oracles on the Ethereum blockchain, where they record all related transactions. The process is quite simple: users deposit their tokens to a specific smart contract, which then uses oracles to disburse the funds. Then, for every installment paid back, the smart contract releases a certain amount of the collateral. NEXO is the native token of the network, providing borrowers discounts on savings, or boosts in interest rates for lenders, as well as dividends for all holders.
dYdX (DYDX) is a Decentralized Exchange (DEX) launched in 2017 that offers crypto perpetuals trading. With billions in daily transaction volume, it is one of the biggest DEXs of the crypto sphere. DYDX is the native token of the platform, which users can stake and use to reduce their fees, thereby profiting from their holdings. Additionally, DYDX also functions as a governance token, providing direct control in the form of voting rights to holders. With its popular Layer 2 solution, dYdX users are able to transact faster than before, with no gas fees, and evidently lowered overall fees. Also, the improvement is intended to boost security and privacy, as well as allow trading with leverage on multiple markets from the same account. The network also supports a purpose-designed mobile application, and almost instantaneous fund withdrawals, which are both part of its Layer 2 upgrade.
ApeCoin is a token system based on the Bored Ape Yacht Club (BAYC) initiative by globally renowned Yuga Labs. It is an ERC-20 governance and utility token that is utilized inside the APE Ecosystem to empower and incentivize the development of a decentralized society, pioneering Web 3.0. The ApeCoin DAO unlocks self-governance for ApeCoin holders by enabling them to vote on how the ecosystem and its funds should behave. The Ecosystem Fund, controlled by holders, received 62 percent of all ApeCoin, which will back ventures determined by ApeCoin DAO members. APE also grants access to areas of the Ecosystem that would otherwise be closed off, such as special games and applications. APE also offers ways for third-party developers to join the ecosystem by integrating ApeCoin into their products, businesses, and other ventures.
KeeperDAO (ROOK) is a decentralized, Ethereum-based solution that allows its users to trade, borrow, and earn via various features. As its name suggests, it’s a Decentralized Autonomous Organization (DAO) intended for Keepers. Keepers are basically specialized bots that execute various actions on multiple blockchains within the Decentralized Finance (DeFi) space. As the security of these programs is often endangered by malicious software across chains, KeeperDAO intends to reduce their exposure by uniting all Keepers in one aggregate body and economy. A notable application of KeeperDAO is its trading protocol, where participants have the chance to exchange numerous ERC-20 tokens for each other. If a transaction request creates a miner extractable value (MEV) and gets realized, the initiator is rewarded in ROOK tokens that equal the MEV in value. ROOK holders can also provide loans via Hiding Vault, the network’s lending protocol, to receive yields paid out in the same token.
Head over to Rain to start trading these popular tokens and stay tuned with us as more crypto assets are in the pipeline for addition.
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