The global exchange platform for digital assets Gate.io It was recently announced that they have expanded their offering of their Decentralized Finance (DeFi) -oriented tokens in up to 45 different projects for its broad user base.
According to the press release of the exchange, UNI, AMP, YFI and CRV are the tokens that are best positioned within the platform with an estimated total volume of more than 2 million tokens exchanged.
“Gate.io focused on selecting high quality and innovative DeFi projects to bring the most interesting DeFi options to users. We have also been working on our DeFi ecosystem since August of this year. It is built on our public high security chain GateChain. Our DeFi network will have a stablecoin (USDG), a decentralized exchange (DEX), decentralized lending and liquidity mining. “ says Marie Tatibouet, CMO at Gate.io.
The platform notes that the 45 DeFi tokens are paired with the USDT stablecoin for specific cases of Aave and KSM tokens recently offered perpetual contract trading for up to 20x leverage.
With the emergence of DeFi projects and the wait for the long-awaited Ethereum 2.0 update, it is not surprising that the offerings on the various cryptocurrency trading platforms with the decentralized financial sector are getting bigger every day.
If the projected results for Ethereum 2.0 are positive, The community in general has seen a number of improvements in this regard across the various DeFi projects which, after Bitcoin, mainly work on the main blockchain platform in the crypto asset market.
With that in mind, Marie pointed out that the platform could see more DeFi demand than it has seen in recent months.
“With Ethereum 2.0 we could see a more pragmatic and expandable form of decentralized financing. Currently, Ethereum can only handle 25 transactions per second, which is not enough for DeFi protocols anyway, especially given the DeFi demand we’ve seen over the past few months, ”adds Marie.
The expansion of Gate.io’s DeFi project offerings is part of the improvements the platform has seen across its various products over the past few months.
In July last year, the exchange announced on its official blog the improvement of its portal for the first exchange offer, better known as IEOs, called Startup 2.0.
Startup IEO was launched this year, according to the Cryptocurrency Analysis Service CryptoRank, When it comes to the return on IEO projects worldwide, the platform is in third place with 143.96% at the time of the release of version 2.0.
DeFi on the rise
With a locked down value of more than $ 13 billion, the DeFi sector has had a dreamy 2020 after detailed parabolic growth DeFi Pulse.
Of all projects, the decentralized exchange Uniswap remains at the top of the sector with a dominance of 22 percent of the total blocked value, closely followed by the specialized collateral lending platform Maker.
Despite the flaws in some of its protocols that have resulted in a loss of funds for its users, in addition to its blocked value, the sector has seen continued growth in the number of users.
As Cointelegraph reported, the total number of users rose 55 percent in just six weeks, with sustained growth rising 40 percent last October, although many DeFi tokens posted losses over the same period.