These crypto assets could be bought or exchanged via the Wealth App:
BTC
Bitcoin is a digital asset used for secure transfers of value anywhere in the world. It is an open network which is managed by its users and not controlled or issued by any bank or government. The value of a bitcoin is not tied to the value of any other currency. Bitcoin is traded for dollars, euros, francs, and other currencies in real time 24/7, therefore, the price can fluctuate depending on the demand for buying or selling bitcoin.
ETH
Ethereum tokens (ether or ETH) are the digital assets that exist on top of the Ethereum blockchain. It functions like cash but ether is not exactly a digital asset. It should rather be considered as “fuel” (gas) for the applications on the Ethereum network.
CHSB
The CHSB token, the official SwissBorg Token, is a multi-utility token used to participate in the SwissBorg ecosystem. It is the key to the SwissBorg platform.
USDC
USDC is a stablecoin which is pegged to the US dollar. It is managed by Circle and Coinbase. USD coin is backed by fully reserved assets, you can redeem 1 USDC for US$1.00.
PAX Gold
PAX Gold is backed by actual gold vaults in London, which render it redeemable for physical LBMA accredited gold (London Good Delivery gold bar, stored in Brink’s gold vaults).
ENJ
Enjin is building a holistic ecosystem of blockchain products that allow game developers and studios to utilize tokenized digital assets as part of their acquisition, retention, engagement and monetization strategies. Enjin’s ecosystem is fueled by ENJ, a utility token used to directly back the value of Enjin-powered blockchain assets.
BNB
BNB was launched as an ERC20 token through an initial coin offering (ICO) in 2017. In April 2019, the ERC20 tokens were swapped with BEP2 BNB on a 1:1 ratio, and are no longer hosted on Ethereum.
One of BNB’s main utilities is as an exchange token, allowing Binance users to pay fees with as much as a 50% discount on trades.
LEND
Often referred to as ETHLend, the Lend token is the native token of Aave following the winding-up of operations by ETHLend in January this 2020. Although it has kept the name, the new Aave version of Lend is a step up from the previous one.
Briefly, the ERC-20 $LEND tokens are used for fee reductions in addition to providing governing rights at a base-code level for future protocol updates. The tokens are burned from fees accrued form the Aave protocol, suggesting that tokens could be worth more over time. The protocol went live in January 2020, supporting 16 different assets including 5 stablecoins. In June 2020, Aave reported having reached as much as $100 million in market cap.
KNC
The Kyber Network (KNC) is an Ethereum-based decentralised exchange (DEX) protocol that allows the “instant exchange and conversion of digital assets with high liquidity.” The platform is similar to the 0x project, but instead performs all of its transactions on the blockchain.
- Kyber Network is a decentralised-exchange protocol.
- It allows peer-to-peer trading without exchange custodianship.
- Kyber Network’s liquidity pool is decentralised to minimise monopoly risks.
COMP
Compound Finance is a decentralised finance (DeFi) protocol that allows users to deposit, borrow and earn interest on cryptocurrencies.
- COMP is a DeFi money market protocol
- Holders of COMP have voting rights on the future of the protocol
- Interest is distributed to borrowers and lenders across the token’s liquid markets
- The token is traded on various high-profile exchanges
REN
Ren is a network of virtual computers that powers interoperability for decentralised applications which enables cross-chain lending, exchanges collateralisation and more.
- Ren allows for interoperability between DeFi protocols
- RenVM directly enhances liquidity on Ethereum
- DeFi applications can tap into the protocol’s liquidity across chains
- RenVM attempts to make DeFi a mainstream crypto reality
DAI
Similar to USDC, DAI is a stablecoin that is pegged to the Dollar, with an exchange rate that replicates US Dollar valuations against other fiat currencies. Unlike other stablecoins that are directly backed by USD, DAI is backed by cryptocurrency collaterals that can publicly be seen on the Ethereum blockchain.
- DAI is a USD-pegged decentralised stablecoin built on Ethereum
- The decentralised coin was created by MakerDAO (MKR)
- One Dai is worth ~$1 until it is taken out of circulation
- Dai can be traded freely as any other ERC-20 token
- Anyone with an Ethereum wallet can send DAI to another ETH wallet
Comments
0 comments
Please sign in to leave a comment.