Eidoo launches DeFi exchange
Eidoo launches DeFi exchange
Defi

Eidoo launches DeFi exchange

By Marco Cavicchioli - 24 Jan 2020

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Eidoo has announced the launch of its exchange for DeFi

The new version of the app, 2.6.1, includes a new section called “DeFi Exchange”, where it is possible to buy and sell various tokens related to decentralized finance. 

At the moment this section includes the trading of Compound tokens, namely cUSDC, cWBTC, cETH, cREP, cBAT, cZRX and cDAI, which allow lending cryptocurrencies and obtaining interest in return. 

DeFi is a rapidly growing but still relatively young emerging ecosystem. This means that there are not yet many tools within everyone’s reach that allow access to this new, decentralized world. 

The Eidoo DeFi Exchange is one of these few already available and fully functional tools allowing to buy, sell and store DeFi tokens. 

Eidoo’s goal is to offer simplified access to these new tokens so that anyone can take advantage of them. 

The new section of the app provides an overview of all the DeFi products directly on the wallet allowing users to keep track of their performance, with the ability to easily buy and sell at any time. 

Furthermore, the Eidoo app will be constantly updated with decentralized finance novelties, which means that new opportunities will be added over time.

For example, Compound assets have been integrated in this section for the moment, but soon those of Fulcrum, TokenSet and other platforms will also be added, allowing comparisons to be made between those with the best performance. 

To be able to lend tokens with Compound it is sufficient to buy the cTokens in this section and, simply by owning them, interest is automatically accumulated. 

The accumulation will continue for as long as cTokens are held, which can be sold freely at any time. 

Eidoo is a non-custodial wallet, so full ownership of all tokens remains exclusively in the hands of the user. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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