The popular cryptocurrency exchange OKEx has double-down on its DeFi-related endeavors by listing several new assets from the field.
Company CEO Jay Hao promised that OKEx will continue to observe and act accordingly to the growing DeFi trend.
The Malta-based spot and derivatives cryptocurrency exchange announced the addition of eight “promising” DeFi tokens, thus “reinforcing its commitment to the expanding DeFi economy.” The assets are Band Protocol (BAND), JUST (JST), Ren (REN), Reserve Rights (RSR), Yearn.Finance (YFI), Nexus Mutual (wNXM), YFII.Finance (YFII), and Tellor (TRB).
OKEx explained the addition of these particular tokens because they cover a range of various DeFi innovations from oracles and insurance to stablecoins and liquidity providers.
The spot trading against Tether (USDT) opened at 7:00 AM UTC on August 28th, while the pairs against Bitcoin and Ethereum – an hour later.
By introducing these eight tokens, OKEx has increased the total numbers of DeFi coins to 27. Additionally, the exchange has enabled a designated “DeFi category” on its website, allowing traders to find information regarding the DeFi tokens quickly.
Interestingly, some of the eight coins listed by OKEx has reacted with an immediate price increase. Yearn.Finance leads with a 26% surge to above $19,000, BAND, and TRL up by 9%, NXM by 5%, while Reserve Rights increased by 10% initially but has retraced heavily since then.
Following the announcement, OKEx CEO Jay Hao told CryptoPotato that it’s no secret that his company has a “bullish stance on DeFi and its overwhelming promise as an alternative finance system.” Consequently, OKEx will keep supporting the sector by exploring and adding more tokens.
“However, listing DeFi tokens isn’t the only way that OKEx is contributing to growing the DeFi space. We are very actively working to develop innovative projects such as OKEx Oracle and OKChain to build out this space together. We believe that collaboration is vital for DeFi’s longevity, and we’re thrilled to see more and more innovative projects breaking grounds in this area.” – Hao added.