Get To Know These Four New Coins – Now Live on eToro
We’ve just launched four cryptocurrenciesAave, Compound, Yearn and Decentraland that you can buy and sell on the eToro marketplace.
Of course, every crypto project tells a story. So, we’re here to provide some pertinent details on each before you embark on your new investing journeys.
Similar to Uniswap (also recently added to eToro), Aave is a decentralized exchange (DEX) that relies on self-executing smart contracts (i.e., no custodian) for trading. On the Aave platform, users can deposit or borrow different assets, with the potential to earn passive income in the form of interest. AAVE is the protocol’s governance token.
Similar to Aave, Compound is a decentralized lending platform. As two of the top DeFi projects built on the Ethereum blockchain, the platforms are expanding the financial uses for crypto beyond just payments and into loans, savings accounts and more. While Aave supports more assets and offers a wider variety of services, Compound recently announced its Gateway chain, which enables cross-chain collateral beyond the Ethereum network.
Launched in 2020, Yearn is another player in the emerging DeFi space, only with a more diverse approach. Essentially, Yearn.Finance acts as an entryway for multiple interest-earning crypto products, both of its own creation and ones built by other developers. The governance token, YFI, currently has a tight supply, making it particularly inflation-proof among crypto assets.
A crypto-inspired simulation? It may sound far-fetched, but Decentraland is one of the more fascinating projects in an already fascinating space. Basically, the Ethereum-based platform is its own virtual world, where users can buy and sell digital real estate, as well as other virtual goods and services within Decentraland. MANA, the platform’s native token, is used to facilitate transactions.
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