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2020-12-11


eosfinex will add 18 Ethereum DeFi tokens by using pTokens

eosfinex-will-add-18-eth-defi-tokens-using-ptokens

eosfinex will soon release within its decentralized EOS-based exchange, the top 18 Ethereum DeFi tokens thus connecting the two DeFi ecosystems and bringing additional benefits. This will be possible by leveraging the crypto-asset wrapping network of pTokens.

"#EOS is the obvious destination for #DeFi when you actually consider UX, performance and cost. Now with @bitfinex liquidity & @pNetworkDeFi cross-chain tokenisation we can imagine a new kind of DeFi experience where the user comes first, not the protocol." - eosfinex

pTokens is an open-source architecture that allows tokens to be transferred cross-chains, enabling liquidity to flow without friction. It works through a network of validators that perform the peg-in and peg-out transactions with dedicated hardware to ensure additional protection and security.

At the moment eosfinex has already started the integration of the new ERC-20 tokens within the Decentralized Exchange. The first tokens added and available are Uniswap (pUNI), Band Protocol (pBAND), Balancer (pBAL), Compound (pCOMP) and Synthetix (pSNX). OMG Network (pOMG), Dai (pDAI), Aragon (pANT), Ultra (pUOS), Augur (pREP), Basic Attention Token (pBAT), 0x (pZRX), and Kleros (pPNK) Maker (pMKR), Yearn.finance (pYFI), Chainlink (pLINK) and Aave (pAAVE) will also be added in the coming days.

All of these are the most popular tokens within Ethereum's DeFi ecosystem. The integration within eosfinex, could start a spread of the se tokens on the EOS mainnet, leveraging the pTokens network. According to eosfinex, this could enhance the EOS DeFi Ecosystem, by allowing EOS-native lending and derivatives protocols to access more liquidity.

“EOS and EOS-based organizations must deliver solutions to meet this challenge and strengthen the blockchain’s claim as the most performant, reliable, and cost-effective smart contract platform. The best way to do this is to support the next wave of DeFi innovation.” - Steven Quinn, head of product at eosfinex

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