dailyhodl.com
Crypto exchange titan Crypto.com (CRO) is adding support for two decentralized finance (DeFi) altcoins as the digital assets market experiences a widespread pullback.
According to a company blog post, the Singapore-based exchange platform says it will be listing Convex Finance (CVX), an Ethereum-based protocol built on top of stablecoin exchange Curve Finance (CRV) and Trader Joe (JOE), an Avalanche-based automated market maker (AMM) and decentralized exchange (DEX).
Convex, which offers no withdrawal or minimum performance fees, rewards liquidity providers and CRV stakers on the Curve Finance exchange. Its native utility token CVX can be staked into Convex Finance to earn a share of Curve’s liquidity pool earnings and vote on CVX’s governance.
CVX is exchanging hands at $44.54 at time of writing, a 9.5% decrease from its seven-day peak of $49.14.
TraderJoe, a platform that combines decentralized exchange services such as token swapping with lending and leveraged trading, also recently gained support from US-based crypto giant Binance, causing its price to spike from $2.17 to $2.62, a 17% increase.
Its native governance token JOE can be used to vote on the platform’s direction and also be staked to receive protocol rewards.