Aave, Compound, Decentraland and Yearn now added to the eToro platform

Users of multi-asset brokerage company eToro have more reasons to be optimistic as the firm opens its platform to four new crypto assets. eToro announced that it has launched Aave, Yearn, Compound, and Decentraland cryptocurrencies on its platform.

DeFi protocols getting the nudge from popular platforms

One of the four newcomers on the platform Compound is a decentralized lending platform built on the Ethereum blockchain. It recently announced its gateway chain, which allows cross-chain collateral outside the Ethereum network.

Another newcomer on the platform Aave (AAVE/USD) works like Uniswap (UNI/USD), as they are both decentralized protocols that enable trading through self-executing smart contracts.

The platform brings both users and borrowers together, with the chance of earning passive income through interest payments. Aave supports a wider variety of services, unlike Compound that is only recently adding more features.

Decentraland (MANA/USD) and Yearn (YFI/USD) are less popular, but growing rapidly in adoption. Yearn is another player in the DeFi space, but it offers a unique feature. YFI, its governance token, has a tight supply. This makes it less prone to inflation, unlike other cryptocurrencies.

On the other hand, Decentraland is an Ethereum-based platform that works based on buying and selling digital real estate using MANA, its native token.

eToro remains unperturbed despite the market’s slump

The additions are coming despite the recent market deep, with many crypto assets losing a large chunk of their value recently. Some crypto assets have shed as much as 40% within the past week, as the market keeps experiencing a slump.

It didn’t stop eToro from continuing its expansion plans after adding Uniswap and Chainlink to the platform last month. The same month, the platform added IOTA to offer more diversity for users. eToro is the world’s leading social investment network.

Leave a Reply