New assets this week: RAY, KAVA, ALT & JUP
At Bitvavo, we are continually growing our asset selection. Following last week's introduction of four new coins, we're happy to bring you four more assets this week: Raydium (RAY), Kava (KAVA), AltLayer (ALT), and Jupiter (JUP). Ā
We chose to list these assets based on frequent requests from our community. Considering AltLayer and Jupiter are new projects, please be aware of the higher risk associated with trading these assets. For additional information on the new assets, please refer to the details provided below.
What is Jupiter (JUP)?
Jupiter (JUP) is a Solana-based governance token that allows community members to approve, sanction, and vote on all aspects of the Jupiter platform. Jupiter is one of the biggest DeFi protocols on Solana, processing $3.7 billion in transaction volume in November 2023 alone. The platform started as a liquidity aggregator for token swaps, similar to 1inch on Ethereum, but has since added GMX-style perpetual futures and plans to release a decentralized stablecoin called SUSD. The first JUP airdrop, which is one of the biggest to date, will be distributed to 955,000 wallets that interacted with Jupiter directly before the 2nd of November, 2023.
What is Raydium (RAY)?
Raydium functions as an automated market maker (AMM) and liquidity provider operating on the Solana blockchain. Distinguishing itself from other AMMs, Raydium facilitates on-chain liquidity to a central limit order book. Deposited funds are transformed into limit orders, integrating with Serum's order books.Ā
This setup grants Raydium liquidity providers access to Serum's order flow and pre-existing liquidity. The native utility token, RAY, holds multiple functions, including staking for protocol fee earnings, receiving IDO allocations, and participating in governance votes on protocol decisions.Ā
Please note that RAY is available for trading only first, deposits and withdrawals will be added later.
What is Kava (KAVA)
The Proof-of-Stake blockchainĀ KavaĀ was established in 2018 with the goal of facilitating peer-to-peer borrowing and lending on the blockchain. Kava serves as a Web3 lending and borrowing platform, employing various digital assets as collateral. Unlike many DeFi protocols situated on the Ethereum mainnet, Kava is constructed on Cosmos.
KAVA serves as the native cryptocurrency of the platform, and its holders possess voting rights for determining the network's future. Furthermore, KAVA incentivizes individuals operating nodes that contribute to the platform's infrastructure.
KAVA is available for trading only first, deposits and withdrawals will be added later.
About AltLayer (ALT)
AltLayer (ALT) is an Ethereum scaling solution that has recently gone live with over $100 million in token airdrops. The project aims to provide a more efficient and cost-effective environment for Ethereum Virtual Machine (EVM)-native ZK applications. TheĀ ecosystem is designed to minimize gas fees and facilitate the deployment of ZK applications by integrating Solidity, an object-oriented programming language, to provide solutions within the Ethereum ecosystem. $ALT has a total supply of 10 billion tokens, with just over 10% in circulation.
Interested in these assets? Open an account and start trading.Ā