DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges.
Over the past few months, we saw these exchanges rushing to DeFi space – in the fastest ever listing of these tokens, a complete U-turn from the past few years when crypto projects had to approach them or even pay them to get their tokens listed.
According to the exchange’s official announcement, “the Decentralized Finance (DeFi) revolution is coming into bloom, and it presents the possibility of permissionless, bankless, alternatives to the legacy financial system.”
The promise of DeFi is apparently “aligned” with Gemini’s “ethos” of giving its customers “greater choice, independence, and opportunity.”
While the exchange says these new tokens make up some of the major building blocks of DeFi, still, it warns that they present “unique risks,” and the listing doesn’t endorse the protocol and “makes no recommendation that” customers participate in the DeFi ecosystem.
1/2 Today, we have added new support for 15❗️additional #DeFi tokens. We believe in the potential of DeFi and are here to help usher in this next wave of growth and financial innovation for the world.
— Gemini (@Gemini) September 25, 2020
But on Friday, Tyler and Cameron Winklevoss-founded crypto exchange has made an aggressive move and extended this list to 15 more coins.
“We are proud to be the first regulated platform to offer trading and custody support in the State of New York,” for a total of 24 cryptos.
The exchange announced new support for the most popular DeFi tokens, including Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI) which are available for both trading and custody.
Five tokens that were previously supported for custody, Decentraland (MANA), Kyber Network (KNC), Maker (MKR), Storj (STORJ), and 0x (ZRX), are now available for trading as well.
On top of this, Keep Network (KEEP), Wrapped Bitcoin (wBTC), and tBTC (tBTC), three new coins altogether, have been added to its custody.