New Crypto Markets: Dogecoin, DeFi Tokens and More - Morpher
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New Crypto Markets: Dogecoin, DeFi Tokens and More

Author Image Ivan Struk

Ivan Struk

Doge among top crypto coins like TRON, YFI, MKR, & ZRX.

We have been working hard to improve the range of markets available to our users on Morpher. In our most recent market update, we worked on adding support for some of the most requested crypto assets, drawing on user suggestions from our forum, and also adding a few of our favourite DeFi  (Decentralized Finance) project tokens.

One the markets we are most excited about is Dogecoin ($DOGE), which has been by far the most requested market in our community. The token made its debut in 2012, but it wasn’t until this year – now that Elon Musk has branded it “the people’s crypto” – that it really took off. We try to stay on top of market trends, so we made sure to include it in this update.

Exposure to DeFi

Another focus of this update was to add more tokens that would give our users exposure to DeFi (Decentralized Finance) projects. With Morpher being a DeFi project as well, we strongly believe that our users should be able to gain a holistic exposure to some of the most popular DeFi projects out there.

We believe that the future of global finance is decentralized. That’s a claim that we want to stake, and allow our users to participate in as well. Like with any asset on Morpher, you can go long or short, and put your own market expectations to a test in a perfectly balanced portfolio.

Here are some of the DeFi tokens we have added and a few details about them.

Aave ($AAVE) : Aave protocol’s roots stem from the 2017 ICO of ETHLend, a project geared towards creating a lending environment where users could lend and borrow cryptocurrencies to and from each other. Despite some initial liquidity constraints, the project was rebranded in the summer of 2020 and relaunched as Aave, a decentralized money market for crypto fuelled by pools of stablecoin liquidity. ($YFI) : yEarn was launched in 2020 and set a precedent for the emerging trend of yield-farming. The protocol, governed by its token YFI token, seeks to provide users with the highest possible interest yield on stablecoin deposits.

Maker ($MKR) : To capture the full scope of what Maker is trying to achieve would require an entire blog post of its own, but we’ll keep things short for now. The Maker Project is a huge DeFi initiative in the decentralized lending space that relies on its DAI stablecoin. $MKR is the governance token of the platform, which provides its holders and traders a more return-oriented exposure to the market.

Ambitious Blockchain Projects

Not every cryptocurrency we add has to conform to a specific movement or group of other coins. Sometimes the right exposure to your portfolio is difficult to find, so we have tried our best to give you some more unconventional crypto options.

Ravencoin ($RVN) : Forked off the Bitcoin code, Ravencoin mining began in early 2018, and is built  in a different way than most of the other projects listed here. The protocol’s main ambition is the tokenization of unique assets using its network. What makes this tokenization unique is that, unlike conventional NFTs (Non-Fungible Tokens), it can encompass real-world assets, not just digital items.

Tron ($TRX) : Tronix, of the Tron network, is now also supported. The project aims to decentralize digital content entertainment, including the web. It’s a bold ambition, and may be worth considering as an addition to your portfolio.

The Graph ($GRT) : GRT Coin is the ERC-20 token that empowers The Graph Protocol. The project aims to solve a problem that affects many blockchain developers, i.e. indexing and querying data from blockchains. Just like Google indexes web pages, The Graph makes it easier to extract data from blockchains, helping you search and find exactly what you need.

Let us know what markets you want to see added next! Start a “Market Request” discussion in our community, and we’ll try our best to make it happen.

Deposit and Earn 20%

To show how excited we are about these new markets, we’re temporarily increasing our Deposit and Earn program bonus from 10% to 20%. If you deposit with Paypal before the end of the month, we will give you a 20% bonus on your deposit. Learn more about Deposit & Earn.

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Disclaimer: All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. This post does not constitute investment advice.

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