SNX, BAL, CRV and KSM – 4 New Crypto Assets Start Trading September 17

At Kraken, we’re always striving to keep clients on top of what’s happening in the fast-moving cryptocurrency sector. Whether you want to invest or participate in the latest projects, or are just looking to trade momentum assets on the move right now, we’ve got you covered with our large and growing selection of the most popular cryptos.

One emerging trend, part of the huge growth of the DeFi movement, is the development of decentralized exchanges (DEXs) that operate without order books. This is done in an effort to avoid the poor liquidity or price slippage issues that can be seen with the relatively thin order books on some decentralized exchanges.

In addition to offering novel mechanisms for providing liquidity to buyers and sellers, these DEXs offer an incentive for holders to supply liquidity by staking assets on the network, or locking them in liquidity pools, in return for a share of transaction fees. Thus cryptocurrency holders have a way to earn from their assets, while cryptocurrency buyers and sellers can transact at potentially better prices than they might find in other decentralized markets.

Given the huge popularity of these “bookless” DEXs, we are excited to list three new crypto assets powering them:

  • Synthetix (SNX) – Synthetix allows anyone to trade derivatives of a wide range of real-world assets (e.g., USD, stocks, etc.) and crypto assets (e.g., Bitcoin). 
  • Curve (CRV) – Curve provides an automatic market maker (AMM) offering liquidity pools that focus on stablecoin pairs.
  • Balancer (BAL) – Balancer works similarly to Curve, but offers up to 8 assets in their liquidity pools compared to Curve’s 2, and offers a wider variety of assets.

Also, following on the huge success of our Polkadot (DOT) listing, we’re listing its “cousin” protocol.

  • Kusama (KSM) – Kusama’s protocol serves as a pre-production environment for the Polkadot blockchain, meaning that any developer can experiment and test new technologies on the…

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