Tyler Winklevoss believes that the DeFi revolution is near. For that reason, the Gemini co-founder has decided to bet on decentralized finance.
Right now, there is a fever of excitement about decentralized finance (DeFi) in the crypto market. For that reason, Tyler Winklevoss, one of the most influential figures in the crypto world, believes that the DeFi revolution is imminent.
The crypto world has made technological and financial advances that have not only revolutionized people’s environment. These improvements have also allowed users to have access to new concepts and innovations.
The most relevant founders of the ecosystem are now focusing their attention on DeFi. They believe that decentralized finance will allow the market to reach new boundaries.
Gemini Will Now Include Tokens on Its List
The Winklevoss brothers created the Gemini platform in 2015. It became the world’s first licensed Ethereum Exchange in June 2016.
The users of the platform can trade cryptocurrencies and fiat currencies in an open market, at reasonable prices. They can also make transfers to banks, which was an innovation that the members of the ecosystem acclaimed.
Some people claim that the disadvantage of Gemini is its small selection of currencies. However, its creators have announced that they are planning to add three other tokens. This will allow Gemini to reach the deepest part of the DeFi space.
For this reason, the co-founder of this platform, Tyler Winklevoss, announced on Twitter that “the DeFi revolution is upon us.”
In the same way, he explained that the cryptocurrency exchange will now accept deposits for AMP, PAXG, and COMP. Users will be able to start trading those tokens in mid-September of this year.
DeFi Activity in the Market Is Growing
Last June, decentralized finance started with the launch of Compound (COMP), a token based on the Ethereum blockchain. In addition to COMP, another DeFi token on the Gemini list is Synereo’s AMP.
There has been questioning why the founders of Gemini decided to make this bet on DeFi tokens.
The platform’s decision to expand its list with three DeFi tokens occurs immediately after the SushiSwap scandal, which threatened to give a bad name to the emerging market segment.
Finally, everyone seems to be learning a lesson from all these projects that are beginning to emerge. The DeFi space is still very young and an experiment that is to a great extent in constant growth.
Nyan Token Also Adds to DeFi
The creation of many new projects, such as Nyan Finance, indicates that the DeFi revolution is near.
In this regard, CoinMarketCap also added the Nyan token to its rankings on September 12th. This DeFi token is a pseudo hedge fund that targets beginners to decentralized finance.
Users can have access to the Nyan token on Uniswap on the ETH/NYAN pair, where it has total liquidity of USD 139.64 and a trading volume of nearly USD 3.045 million at the time of writing this article.
By Alexander Salazar