Gemini Exchange Backs DeFi, NFT Growth, List 6 Related Tokens

The United States-based cryptocurrency exchange Gemini, founded by Bitcoin billionaires Tyler and Cameron Winklevoss has announced the support for new decentralized finance (DeFi), Non-fungible Token (NFT), gaming, and infrastructure tokens on its platform.

Per the announcement, the platform has enabled the trading and custody of the tokens including Bancor (BNT), 1inch (1INCH), Loopring (LRC), The Sandbox (SAND), Skale (SKL), The Graph (GRT), and Enjin (ENJ).

“Deposits for these tokens are now open, and trading availability for all six new tokens and ENJ will soon follow, launching first on our API/FIX and our ActiveTrader™ platforms for USD trading pairs. Trading on our mobile application and website will open on a rolling, token-by-token basis for USD, GBP, EUR, CAD, AUD, HKD, and SGD trading pairs,” the exchange announced.

While Bancor is an ERC20 payment token that serves as the mechanism through which liquidity pools connect in the Bancor network, 1inch is one of the emerging decentralized exchanges whose with integrated support from both the Ethereum network and Binance Smart Chain respectively. 

Loopring is an open protocol for building high-performance, order book decentralized exchanges on Ethereum and gaming/NFT tokens including Enjin (ENJ), and The Sandbox (SAND) heralds the growing momentum of the NFT and gaming marketplace is gaining today. Skale (SKL) and The Graph (GRT) are Ethereum backed tokens for blockchain-enabled infrastructure. While the latter operates based on the ERC 777 standard, the former is built as an ERC 20 token.

Gemini’s Backing of DeFi and NFTs is Unrivaled

Through the launch of the tokens, the exchange has underscored its commitment to developing the fast-growing DeFi and NFT ecosystems in the blockchain space. Per the announcement, Gemini notes;

“Our industry is constantly evolving with new projects that promise to redefine the boundaries of finance, gaming, and art, and offer more financial independence. As the Decentralized Finance (DeFi) revolution has come into bloom, over the past weeks we have seen an explosion of interest around digital art and NFTs (non-fungible tokens), and we are excited to continue supporting the development of the space. As we advance our effort to empower the individual through crypto, support for these new tokens allows us to continue building a decentralized community of empowered investors.”

With thousands of new projects being churned out in the cryptospace today, the role of Gemini, as well as other outfits in profiling and listing the best projects, will continually remain a fundamental service to investors who may be lost in the sea of multiple projects out there today.