AAVE, MKR, UNI are now in Coins.ph!

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Coins.ph, the leading blockchain-based mobile wallet in the Philippines, announced that its customers will now be able to buy, sell, and store directly the cryptocurrency tokens MKR (Maker), AAVE, and UNI (Uniswap). The addition of these crypto tokens brings the total number of crypto assets available on the Coins.ph platform to 10.

MKR, AAVE and UNI are ERC-20 tokens representing the three most significant projects in decentralized finance (DeFi).

New Tokens at Coins.ph

Pioneer DeFi project, MKR, governance token of the Maker platform, allows its users to manage DAI, a crypto-backed stablecoin whose value is pegged to the US dollar. AAVE is the governance token of Aave, a decentralized non-custodial money market protocol where users can participate as depositors or borrowers. 

Finally, UNI is the governance token of Uniswap, a decentralized exchange (DEX) that allows direct peer-to-peer cryptocurrency transactions among its users through AMM’s (automated market makers) which use smart contracts.

Governance coins allow its users to decide how the platforms should be operated.

How to Get the New Tokens

Nauman Mustafa, CEO of Coins.ph, mentioned that the addition of MKR, AAVE, and UNI “represents Coins.ph’s commitment to support the Philippines’ growing cryptocurrency market in Defi projects.”

“As the country’s leading virtual asset exchange, we strive to provide our customers with accessibility and diversity when it comes to our cryptocurrency products and services,” he added.

To avail the e-wallet’s new offer, existing users only need to update their Coins.ph app to the latest version. The Coins.ph app is available in the Google Play Store, App Store, and Huawei AppGallery. Users must be Level 2 or ID and selfie-verified to buy, sell, and hold these new tokens.

More Tokens at Coins.ph This Year

Along with MKR, AAVE and UNI, Coins.ph also offers cryptocurrency tokens Chainlink (LINK), US Dollar Coin (USDC) and Kyber Network Crystal (KNC) on the platform, available since July 2021. LINK is the native token of Chainlink, a decentralized oracle network intended to bring real-word data into smart contracts.  Kyber Network, where KNC is a governance coin, allows tokens to be swapped with each other across decentralized apps, wallets, and DeFi. Finally, US dollar-backed USDC is a stablecoin with 1:1 conversion to the fiat counterpart. USDC, launched by the Center Consortium, an initiative between top crypto companies Circle and Coinbase.

“2021 has been a year of significant adoption for the Philippine cryptocurrency market. We are excited to share this milestone with our users, and promise to continue enhancing our e-wallet and virtual currency services to cater to this growing demand,” Mustafa said in a statement after it was announced that Coins.ph now has 16 million user’s nationwide, solidifying its rank as the largest cryptocurrency exchange in the country. (Read more on: Coins Just Quietly Revealed It Has 16 Million Users)

This article is published on BitPinas: AAVE, MKR, UNI are now in Coins.ph!

Press Release (Tagalog)

Ang Coins.ph, ang nangungunang blockchain-based na mobile wallet sa Pilipinas, ay nag anunsyo ng mga bagong dagdag na cryptocurrency tokens – MKR (Maker), AAVE at UNI (Uniswap) – na maaari ng mabili at maibenta ng kanilang customers at users direkta gamit ang Coins.ph app. Ito na ang mga pinakabagong tokens na sinusuportahan ng Coins.ph matapos ang huling batch ng tokens na idinagdag nila noong nakaraang Hulyo. Ang mga ito ay USDC, LINK, at KNC. Itinataas ng mga tokens na ito ang kabuuang suportadong cryptocurrency ng Coins.ph sa 10 crypto. 

“Ang pagkakadagdag ng MRK, AAVE, at UNI sa aming huling update ay nagrerepresenta sa pangako ng Coins.ph na suportahan ang lumalagong cryptocurrency market at DeFi projects dito sa Pilipinas.” saad ni Nauman Mustafa, CEO ng Coins.ph. “Bilang nangungunang Virtual Asser Exchange dito sa Pilipinas, sinisikap namin na mabigyan ang ating mga customers ng ‘accessibility’ at ‘diversity’ pagdating sa cryptocurrency products at services.”

Ang MKR, AAVE at UNI ay mga ERC-20 tokens at mga crypto assets na nasa loob ng Ethereum Blockchain. Inirerepresenta din ng tatlong ito ang pinakamalaking proyekto sa DeFi (Decentralized Finance), isa itong bagong anyo ng Finance na gumagamit ng blockchain technology sa kanilang mga financial transactions na hindi nangangailangan ng ‘human intermediary’. 

Ang MKR ay ang governance token ng Maker platform, isa ito sa mga naunang DeFi projects na nagbibigay abilidad sa kanilang users upang i-manage ang kanilang DAI, isa itong crypto-backed na stablecoin na ang halaga ay nakatali sa presyo ng US Dollar. Bilang isang governance token, maaaring pagbotohan ng mga MKR holders kung paano ba dapat i-operate ang kanilang MKR system. Ginagamit din ang MRK na pambayad sa mga fees sa kanilang system.

May mahalagang papel na ginagampanan ang AAVE pagdating sa lumalagong DeFi space. Ang AAVE ang nagpasikat ng ideya ng ‘pag-utang’ gamit ang cryptocurrencies bilang collateral, at ng ‘pagpapautang’ gamit ang mga nakadepositong crypto upang umani ng interes. Bilang isang governance token, ginagamit ang AAVE cryptocurrency upang pagbotohan ang mga isinumiteng improvements sa AAVE protocol.

Ang UNI naman ay ginagamit sa Uniswap, ito ang nangungunang DEX (Decentralized Exchange) na nagbibigay abilidad sa kanilang users upang makapag provide ng liquidity at makapagtrade sa kanilang kapwa users. Nagaganap ito via AMM (automated market sharers) na gumagamit ng smart contracts upang ma-proseso ang mga trades. Sa prosesong ito, ipinapares ng mga trading pairs ang mga ‘trade orders’ sa mga teknikal na pinakamalapit na liquidity na available. Taliwas ito sa mga normal na proseso ng mga centralized exchanges na umaasa sa mga propesyunal na ‘market makers’ – ang mga tao sa institusyon – upang masiguro na magkapares ang mga trade orders sa kanilang exchange order book platform. Maraming iba’t ibang gamit ang UNI. Bilang isang governance token, ginagamit ito sa pagdedesisyon kung paano ang magiging operasyon ng Uniswap protocol. Ginagamit din ito  bilang ‘rewards’ sa mga user na nag-stake ng kanilang liquidity.

Upang makapagsimulang bumili, magbenta, o magimpok ng mga tokens na ito, kinakailangan lamang i-update ng mga Coins.ph users ang kanilang app sa pinakabagong bersyon. Ang Coins.ph app ay available sa Google Play Store, App Store, at sa Huawei AppGallery. Ang mga  customers ay kinakailangan na Level 2 o ‘ID at Selfie Verified’ upang makabili, makabenta at makapag imbak ng mga bagong tokens na ito  
Para sa dagdag na detalye tungkol sa AAVE, MRK, at UNI, bisitahin ang https://support.coins.ph.

This article is published on BitPinas: AAVE, MKR, UNI are now in Coins.ph!

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