Crypto exchange service provider, CoinEx, has been listed on the OneSwap’s ONES token, making it the first cryptocurrency exchange to have been listed on the platform. CoinEx released a statement regarding the development on its website on September 17.
“We are glad to announce that OneSwap, a decentralized trading platform strategically invested by us will be first officially launched on our platform,” the announcement reads.
Uniswap has gained massive recognition within the DeFi community
As a decentralized smart contracts exchange protocol, Uniswap has received massive attention in the DeFi community, as it uses an on-chain order book along with automated market makers (AMM). It also utilizes a user-friendly interface, providing trading volumes, price trends, depth maps, as well as candlestick charts for users.
After opting for “trans-fee mining,” CoinEx rose to the top of exchange rankings. Since then, it has never looked back.
But the exchange is not stopping there, as it has sort to actively explore its participation in the DeFi ecological construction and bring the benefits to CoinEx users. With this new development, the platform has added more relevance as there is now more optimism from users of the platform.
CoinEx facilitates early adoption of Ecosystem Development Fund
When the DeFi tide started in 2020, CoinEx was the earliest adopter of an Ecosystem Development Fund to enhance the stable growth of the DeFi protocol. The move also made sure that DeFi is used on a broader scale in the financial sector.
And since the Ecosystem Development Fund was established, the CoinEx team has carried out comprehensive research on different DeFi projects throughout the world. Their efforts led to the first investments from the fund.
With the listing of ONES, the Initial Trade Offering (ITO) began yesterday and is billed to run until the 8th of next month. During this period, users who carry out and complete a transaction may earn a mining award corresponding to their transaction.
Users who trade on the CoinEx platform can get token rewards. 25,000 has been set as the total reward for ONES, with 5,000 ONES going to perpetual contract trading while 20,000 ONES are allocated to spot trading.
However, the token rewards are only applicable to users who have submitted applications to benefit from such a program.
Uniswap also supports order mining and yield farming simultaneously. With this launch of ONES ITO, there is a high expectation that the project will generate enough funds to kick off.
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