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PDAX Announces New Tokens: UNI, ENJ, GRT, LINK, COMP, BAT, and AAVE

Photo for the Article - PDAX Announces New Tokens: UNI, ENJ, GRT, LINK, COMP, BAT, and AAVE

Philippine Digital Asset Exchange (PDAX) has officially announced the new coins that will be tradeable in its platform on June 25, 2021. The launch of these new offerings, the company said, is in line with its campaign #StartWithPDAX that revolves around the Filipino trader in whatever point they are in their crypto journey.

“As part of our campaign to improve our services and release new products, PDAX is set to list 7 new tokens this June 25th. The team is committed to continue building the Philippines’ crypto ecosystem,” PDAX COO Kyle Kua said in an emailed statement.

PDAX Webinar Special Edition: New Tokens Preview

In a webinar today, PDAX unveils the coins that will soon be tradeable on the platform: LINK, Enjin (ENJ), Basic Attention Token (BAT), Graph (GRT), Compound (COMP), AAVE, and UNI. This marks the first time a local order book crypto exchange is listing these coins. 

Chainlink is a decentralized oracle network to bring real-world data into smart contracts. LINK, the native token of this network is used as currency to pay node operators. Operators stake their LINK to participate and provide data services.

Enjin Coin (ENJ() is the token that directly backs the value of non fungible tokens minted in the Enjin ecosystem. Enjin is one of the early proponents of game interoperability through blockchain, wherein assets (NFTs) in one game can be used in another game within the Enjin ecosystem.

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Crypto enthusiasts know BAT as the token earned when using the Brave Browser for browsing the Internet. The goal of which is to efficiently distribute advertising money between advertisers, publishers, and readers.

GRT is the token that powers The Graph, which is a decentralized protocol for indexing and searching data from blockchains, so it’s like Google Search but for blockchains.

COMP is the governance token of Compound, which popularized lending and borrowing of crypto. As a governance token, its holders can actually propose and vote changes to the Compound protocol. AAVE is also a governance token but of the Aave protocol. Aave is also in the borrowing and lending market. Finally, UNI is the governance token of Uniswap, an automated market maker. 

During the webinar, the PDAX team commented that the coins that will launch on the platform have solid fundamentals and have been vetted thoroughly. The currently listed coins are BTC, ETH, XRP, BCH, LTC, USDC, and USDT.

PDAX recently unveiled a new version of its app that allows users to switch to basic and pro mode. “We aspire to build a platform that caters to the needs of different traders. For beginners, they should feel at ease in using PDAX; for the experienced, they will enjoy the new features and tools we are set to release over the coming months,”  Kyle Kua, chief operating officer of PDAX, said in a previous statement.

PDAX obtained its virtual currency exchange (VCE) license from Bangko Sentral ng Pilipinas (BSP) in 2018. There are 17 licensed virtual currency exchanges in the country, which are now called “virtual asset service providers” (VASPs) as per a new memorandum from the BSP.

This article is published on BitPinas: PDAX Announces New Tokens: UNI, ENJ, GRT, LINK, COMP, BAT, and AAVE

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