Revolut, the financial super app with 15 million customers worldwide, is increasing from 10 to 21 the list of crypto tokens available to buy and sell within the app. Revolut decided to add a selection of new crypto tokens based on the analysis of its crypto team and customer requests.
The 11 new tokens are:
- Yearn Finance,
- The Graph.
In its communications, Revolut reminds its clients that crypto tokens are volatile assets and prices can change rapidly. Even though Revolut believes in expanding access to cryptocurrencies, such activity may not be appropriate for everyone, so the company encourages its clients to research the various cryptocurrencies, risks and opportunities. Before buying or selling cryptocurrencies, customers should analyse independent sources and learn about the differences between the various tokens, as well as consider their personal circumstances. As happens with trading, capital is at risk.
“We are proud to extend the list of cryptocurrencies available in our app with an additional 11. During the selection process, we took into consideration suggestions coming directly from our customers. It is clear that 2021 will be the year of cryptocurrencies!” said Edward Cooper, Head of Crypto at Revolut.
The new crypto assets from Revolut
Revolut provided the following information on new crypto tokens in its latest blog post:
BNT is an Ethereum token that powers the Bancor protocol. The protocol aims to enable the direct on-chain exchange of crypto assets that would have traditionally been difficult to trade due to low liquidity. Bancor does this by enabling automated pricing and an autonomous liquidity mechanism for tokens on smart contract blockchains.
ADA is the token that powers the Cardano blockchain. It is based on a proof-of-stake consensus model called Ouroboros. Cardano validates blockchain transactions without high energy costs.
FIL is the native protocol token of the Filecoin network. Filecoin is a decentralized storage network that aims to allow anyone to host, store or receive digital information. It turns cloud storage into a marketplace and allows users to sell excess storage space on an open platform.
LRC is an Ethereum token that supports the Loopring protocol. The protocol is a collection of Ethereum smart contracts that describe how to create decentralized exchanges based on highly secure and highly scalable order books, automated market makers and payment apps. The goal of Loopring is to promote decentralization, reduce user dependence on traditionally centralized services such as exchanges, and help enable global liquid markets.
Numeraire is a crowdsourcing-based investment company, powered by artificial intelligence, that allows the public to submit machine learning models to predict stock prices. These crowdsourced models are ranked weekly in what Numeraire calls “the toughest data science tournament on the planet”. Winners are rewarded with NMR, an Ethereum token.
OXT is an Ethereum token that powers the Orchid network. Orchid focuses on enabling a decentralized virtual private network (VPN). Users who wish to use the network to maintain their privacy while using the Internet can use OXT to buy bandwidth from vendors listed in a provider directory stored on an Ethereum smart contract.
Synthetix is a decentralized synthetic asset issuance protocol based on Ethereum. These synthetic assets are secured by the Synthetix network token, SNX. SNX is an Ethereum token that enables the issuance of synthetic assets known as Synths. Synths allow currencies, commodities, stocks and real-world indices to be represented directly on the blockchain.
GRT is the Ethereum token that powers the Graph network. It is a query indexing protocol that aims to allow users to query blockchain data efficiently without relying on a centralized service provider. Similar to how Google indexes the Web, The Graph indexes blockchain data.
UMA is an Ethereum token and financial contracts platform created to enable universal market access on Ethereum. The platform focuses on “priceless” financial contract models: contracts that do not require an on-chain price feed to function. They can be used to create synthetic tokens and the data verification mechanism (DVM). Together, these two technologies enable the creation of fast, efficient and secure synthetic derivatives on the Ethereum blockchain.
UNI is an Ethereum token that powers Uniswap, an exchange that allows users to easily trade various Ethereum assets in a decentralized manner. It uses an automated market-making system rather than a traditional order book.
YFI is an Ethereum token that governs the Yearn Finance platform. Yearn Finance is a suite of products that provides lending aggregation, yield generation and insurance on the Ethereum blockchain. The protocol is managed by various independent developers and is governed by the owners of YFI.