Polkadot, Aave and YFI get a spotlight

By: Bharggavi Ssayee

Polkadot, Aave and YFI get a spotlight

April 9, 2021 4:30 PM

Wallet and exchange, Blockchain.com wants to bet on the growth of decentralized finance (DeFi). The company now offers Polkadot (DOT), Aave (AAVE) and Yearn Finance (YFI) tokens on its platform.

 

The DeFi market whets appetites. Its explosion in value follows that of cryptocurrencies, whose capitalization now exceeds 2,000 billion dollars. This week, the total value of assets (TVL) engaged in DeFi protocols reached $ 100 billion.

 

A drop of water on the scale of the global financial market? In comparison, yes. However, since the start of the year, this indicator has multiplied by 5 (and by 100 in less than a year). The growth potential is considerable.

 

Three DeFi reference tokens


And different players intend to take advantage of it, like Blockchain.com. The crypto exchange and wallet is clearly positioned on DeFi. How? 'Or' What ? By listing three new tokens on its services.

 

Not the least since these are the tokens of three emblematic decentralized finance projects, namely Polkadot (DOT), Aave (AAVE) and Yearn Finance (YFI). And for Blockchain.com, this addition simply responds to user demand.

 

As Exchange Product Manager Amadeo Pellicce tells Decrypt, the dynamics of DeFi are "undeniable." It is therefore important to provide users with the means to invest in these tokens.

 

“We and our customers are both incredibly excited about it,” says the company executive. It is true that the remuneration models offered by these different protocols have advantages to seduce.

 

DOT, AAVE and YFI trading on 70 million wallets


And this is especially true as they strive to win over users and test their role models. These first customers thus benefit from tokens and passive income. "It's as if Uber or Airbnb are giving actions to the first users of their systems," said one expert.

 

As of today, Blockchain.com customers can therefore trade Polkadot (DOT), AAVE or YFI, from the exchange or their wallet. Note that the Aave and Yearn Finance tokens were already available from the exchange.