Gate.io has listed more than 45 DeFi projects in the past three months. The global digital asset exchange continues to list DeFi projects for over 3 million Gate.io users worldwide.
Based on the recent reported volumes, some of the best performing tokens on Gate.io include UNI, AMPL, YFI, CRV, with more 2 million (combined) trading volume. The exchange informed that the data on DeFi coins is displayed under the “DeFi” section of the website.
Spot trading pairs of more than 45 DeFi tokens against USDT are available on Gate.io. The exchange platform recently introduced perpetual contract trading for Aave and KSM tokens, supporting up to 20x leverage.
Users on the platform can also trade long and short ETFs for BTM at Gate.io. BTM long and short positions will track the underlying asset’s price change range, bringing 3x change in the price of the underlying asset spot market.
Gate.io’s focus has been selecting high-quality and innovative DeFi projects to provide our users with the most interesting Defi options. Since August this year, we have also been working on our DeFi ecosystem. It is being built on our highly-secure public chain, GateChain. Our DeFi network will feature a stablecoin (USDG), Decentralized Exchange (DEX), Decentralized loan, and liquidity mining.
Soon to be launched Ethereum 2.0 is expected to bring extensive improvements in transaction speed, throughput and interoperability. The DeFi community is also focused on the technological changes in its proof of stake mechanism on which most of the DeFi coins are built.
We could see a more pragmatic and scalable form of decentralized finance with Ethereum 2.0. Right now, Ethereum can only manage about 25 transactions per second, which is not enough for DeFi protocols anyway, and more so, given the DeFi demand surge we witnessed in the last few months.
While Ethereum 2.0 has been highly anticipated in 2020, it will be interesting to see its effect on the overall cryptocurrency ecosystem, including DeFi.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.