coincodex.com
Key highlights:
- The Bitrue cryptocurrency exchange now supports Cardano native assets
- Earlier this year, the Cardano blockchain introduced its custom tokens feature
- The first Cardano-based token supported by Bitrue is Occam.fi's OCC
Bitrue pioneers Cardano token support with Occam.fi's OCC
The Bitrue cryptocurrency exchange is now supporting Cardano native assets, according to a new announcement from the exchange. Cardano native assets are essentially custom tokens that can be transacted with on the Cardano blockchain, and play a similar role as ERC-20 tokens on Ethereum.
Bitrue will be the 1st exchange to support #Cardano native assets!
— Bitrue (@BitrueOfficial) July 19, 2021
These are tokens built on the Cardano $ADA chain, giving them great scalability, flexibility and speed. The 1st is $OCC @OccamFi support before the end of the month ? @Cardano
More: https://t.co/byVE9XAhAQ pic.twitter.com/bOuz5K7tTS
The first Cardano native asset to be supported by Bitrue is OCC, a utility token launched by the Occam.fi project. OCC tokens are issued on both the Cardano and Ethereum blockchain, and Bitrue says that both types of OCC will be seamlessly tradable on a unified market. Users will have the option of depositing and withdrawing either OCC tokens either on the Cardano or Ethereum blockchain.
Occam.fi is creating a platform where projects building on Cardano can hold fundraising campaigns to fund their operations and distribute tokens through initial DEX offerings (IDOs). In addition to this “launchpad” functionality, Occam.fi is also creating a suite of decentralized finance solutions such as liquidity pools and decentralized exchange tools.
The listing of Cardano-based OCC on Bitrue will provide additional flexibility to users who are interested in the Occam.fi project, and also represents an important step for the adoption of Cardano among major exchanges. As for Bitrue specifically, the listing also continues the trend of supporting the Cardano ecosystem, as Bitrue is known for staying on the ball when it comes to new developments like Cardano hard forks.
Adam O’Neill, the Chief Marketing Officer at Bitrue, commented on the exchange’s support for OCC on Cardano and the future potential of this blockchain platform:
“Native assets are a fantastic leap forward for the Cardano chain. It provides teams who wish to leverage blockchain technology with a powerful and easy route to bring their token into existence. The intrinsic capabilities of the Cardano chain will lend a lot of power to any project building on it, such as massively increased scalability compared to other leading chains.”
The Cardano ecosystem is set to become much more interesting in the near future, as the project is currently working on introducing smart contracts functionality. To this end, Cardano’s Alonzo testnet was recently upgraded to the Alonzo White version.