BTSE Integrates xDai STAKE
In a move enabling BTSE users to take advantage of the booming DeFi ecosystem, we are pleased to announce the integration of the STAKE token on our spot market. This is the first of many exciting new listings and announcements for BTSE and our users.
Decentralized Finance is the fastest growing sector in crypto, surpassing $15 billion this week as the value of the industry continues to rise.
The price of Ether has tripled this year to USD$390, far exceeding bitcoin’s yearly gains. Ethereum’s new network infrastructure has struggled with key concerns of congestion, so the multi-year upgrade has shifted to a Proof-of-Stake model as the need for staking infrastructure increases.
What is the xDai Chain?
The xDai Chain is a stable payments blockchain with a mission to improve speed and cost of stable transactions. STAKE is an ERC20-type token designed to support Proof-of-Stake consensus holding market driven value.
What is the STAKE?
The STAKE token is a multi-chain staking token designed to secure the payment layer on the Ethereum network. STAKE is in increasing demand as the Ethereum rise parallels with key concerns over slow and expensive transactions fees. STAKE tokens assist in securing the payment layer, allowing block producers to provide transaction consensus and receive staking incentives for honest block production.
What is the total supply of STAKE?
This token has an initial supply of 8,537,500 STAKE tokens that will be released over time. Integrating the STAKE token enables BTSE users to contribute to the broader DeFi ecosystem as it grows. The token will be available on BTSE’s spot market using the Multi-asset All-In-One Order Book.
When will funding and trading start?
Deposits and withdrawal will go live August 18th at 4 PM UTC and trading will be enabled shortly after.
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