Aussie crypto app CoinJar lists BAL, ENJ, GRT, MATIC, USDT, & WBTC
CoinJar, a popular Australian-based bitcoin/crypto exchange, today announced it has listed six new coins including BAL, ENJ, GRT, MATIC, ESDT, and WBTC. From today, users will be able to buy and sell all of these coins on CoinJar; joining the 24 cryptocurrencies that users can already trade, store and send.
Six New Listings
- Balancer (BAL)
- Enjin (ENJ)
- The Graph (GRT)
- Polygon/Matic (MATIC)
- Tether (USDT)
- Wrapped Bitcoin (WBTC)
An automated market maker (AMM) built on the Ethereum blockchain, similar to Uniswap and Curve. Users earn the BAL token by creating and maintaining liquidity pools. BAL tokens are governance tokens, meaning that they give holders the right to take part in decisions regarding the network. As these decisions often involve rewards and fees being generated by the Balancer protocol, there’s a financial incentive to hold and participate.
One one of the pioneers of non-fungible tokens (NFTs). NFTs are one-of-a-kind markers that allow the holder to prove absolute ownership of a digital asset. Through a process known as minting, Enjin makes it easy to create NFTs on the Ethereum blockchain. ENJ is the currency that powers this process, allowing holders to both mint and “melt” NFTs.
The Graph (GRT)
The Graph describes itself as “a protocol for organizing blockchain data and making it easily accessible. The Graph creates an open marketplace where information from different blockchains can be sold to developers who may require it to power their own smart contracts. The Graph Token (GRT) is the currency that powers this marketplace, offering incentives for those that index, curate, and sell the data.
A fast, cross-blockchain dApp development platform built on Ethereum. Like the ETH token, MATIC is the fuel that powers the Polygon network, facilitating the payment and settlement of transactions. Polygon uses a Proof-of-Stake consensus mechanism, which means that holders of the token can “stake” their tokens and receive more MATIC in return.
Pegged in value to the US dollar, Tether allowed people to buy and sell cryptocurrency at a time when it was difficult for exchanges to find reliable banking and fiat currency partners. Cut to 2021 and the stablecoin market is booming, with more than USD $100 billion in circulation. But Tether remains the biggest player by far, accounting for more than 60% of the market and essentially functioning as the crypto world’s reserve currency.
Wrapped BTC (WBTC)
An invention of the DeFi movement. Pegged to the same value as Bitcoin itself, WBTC is a way of representing Bitcoin ownership on the Ethereum network (i.e. you lock Bitcoin in a smart contract and receive an equivalent amount of WBTC in return). Having WBTC means you can use the Bitcoin you own on DeFi apps, for instance, to purchase tokens on Uniswap or as liquidity pool collateral on a platform like Compound or Balancer.