Wallet and exchange, Blockchain.com wants to bet on the growth of decentralized finance (DeFi). The company now offers Polkadot (DOT), Aave (AAVE) and Yearn Finance (YFI) tokens on its platform.
The DeFi market is whetting appetites. Its explosion in value follows that of cryptocurrencies, whose capitalization now exceeds $2 trillion. This week, the total value of assets (TVL) committed to DeFi protocols reached $100 billion.
A drop in the bucket compared to the global financial market? By comparison, yes. However, since the beginning of the year, this metric has grown fivefold (and 100fold in less than a year). The growth potential is considerable.
And various players intend to take advantage of it, like Blockchain.com. The crypto exchange and wallet is clearly positioning itself on DeFi. How? By listing three new tokens on its services.
Not the least of them since they are tokens of three iconic decentralized finance projects, namely Polkadot (DOT), Aave (AAVE) and Yearn Finance (YFI). And for Blockchain.com, this addition is simply a response to user demand.
As Amadeo Pellicce, product manager for the exchange, tells Decrypt, the momentum of DeFi is “undeniable.” Therefore, it is significant to offer users ways to invest in these tokens.
“We and our customers are both incredibly excited about it,” the company executive further states. It is true that the remuneration models offered by these different protocols have assets to seduce.
And this is especially true as they strive to win over users and test their models. These early customers benefit from tokens and passive revenue. “It’s like Uber or Airbnb giving shares to early adopters of their systems,” compares one expert.
As of today, Blockchain.com customers can therefore trade Polkadot (DOT), AAVE or YFI, and this from the exchange or their wallet. Note that Aave and Yearn Finance tokens were already available from the exchange.
For these cryptocurrencies, this means a gain in visibility and greater access to potential investors in over 70 countries. The company points out that it has over 70 million wallets and 31 million verified accounts.
Blockchain.com is clearly pressing the gas pedal. DeFi will be one of its growth engines. And to finance its development, the exchange can also count on a recent fundraising of $ 300 million.