SaBi Exchange, is currently the first cryptocurrency exchange in Nigeria and Africa to list the largest number of DeFi (Decentralized Finance) tokens.
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The exchange has already listed 18 DeFi based projects making it the only exchange in Africa house the tokens.
DeFi markets are now open to Africans to trade using local payment methods. Unlike other cryptocurrency exchanges which didn’t support these payment channels.
Speaking with DiutoCoinNews, Lucky Uwakwe, CEO, SaBi Exchange, said:
“The concept of DeFi and yield farming is in its earliest phase. We, however, want to ensure Africans are not left out, that is if they understand the risk/reward.
With SaBi Exchange, even DeFi-related tokens like DAI, are now traded on SaBi Exchange. The Number one exchange in the world, Binance, still does not have DAI, which is needed for farming based on the recent trend of DeFi Yield Farming.
We have taken a bold step to make 18 DeFi related tokens available on 40+ market pairs, for easy adoption of this trend.”
Read Also: The Top Two White Label Crypto Exchange In Nigeria.
List of the tokens currently available on SaBi:
MakerDAO (MKR) – A decentralized credit platform on Ethereum that supports Dai, a stablecoin whose value is pegged to USD allowing users generate Dai as debt against collateral.
Just (JST) – A decentralized stablecoin project built on the TRON Network. This token allows users to earn USDJ Stablecoins when they pledge TRX as collateral, giving users access to open finance platforms.
Multi-Collateral Dai (DAI) – A token of the Maker Protocol, which includes the Dai Savings Rate (DSR) and additional collateral asset types.
Curve (CRV) – A decentralized exchange liquidity pool on Ethereum designed for extremely efficient stablecoin trading allowing users to trade between stablecoins with low slippage, low fee algorithm designed specifically for stablecoins and earning fees.
Aragon (ANT) – A cryptocurrency token generated on the Ethereum blockchain supporting the Aragon ecosystem of tools and services.
Kusama (KSM) – A cryptocurrency token generated on the Polkadot [OLD] blockchain.
Terra (LUNA) – A mining token that powers Terra’s DPoS blockchain.
Synthetix (SNX) – A decentralized platform on Ethereum for the creation of Synths: on-chain synthetic assets that track the value of real-world assets allowing holders to lock in SNX and ETH as collateral to mint Synths.
Tellor (TRB) – A decentralized oracle platform for DeFi and cryptocurrency token generated on the Ethereum blockchain.
Wrapped NXM (WNXM) – This token allows for freely tradable NXM tokens outside of the Nexus Mutual platform, a decentralised alternative to insurance.
Chromia (CHR) – A cryptocurrency token generated on the Ethereum blockchain which also acts as relational blockchain technology for mainstream dapps.
Original Protocol (OGN) – A cryptocurrency token and platform generated on the Ethereum blockchain for building decentralized marketplaces.
Ravencoin (RVN) – A P2P blockchain designed for transferring various user-issued tokenized assets minted through the mining process.
Compound (COMP) – A protocol on Ethereum allows users earn interest or borrow assets against collateral.
Aave (LEND) – An open source non-custodial protocol on Ethereum for decentralized lending and borrowing.
Balancer (BAL) – A non-custodial portfolio manager, liquidity provider, and price sensor allowing swapping between tokens on the Balancer ecosystem / pool Dapp.
Polkadot (DOT) – A multi-chain framework platform designed to offer interoperability and scalability for blockchains built on Polkadot.
Band Protocol (BAND) – A data management protocol that increases the level of data availability and reliability for Web3 blockchain technologies.
Trading pairs available include:
Bitcoin (BTC)
Ethereum (ETH)
Tether (USDT)
Note that all the listed DeFi tokens have the above 3 trading pairs except for DAI which is only available via DAI/BTC pair.
The listing provides Africa with the opportunity to trade a large pool of DeFi based tokens within its own African market.
About SaBi
SaBi is a digital assets exchange, focused on the African market. It provides crypto financial service to global users. Founded in Nigeria, SaBi offers access to hundreds of tokens for the crypto market in Africa.
SaBi also offers OTC fiat trading and Exchange token trading pairs in one platform by tapping the technical support provided by HuobiCloud.
SaBi aims to empower the African market, providing access to tokens mostly available on other cryptocurrency exchanges like Binance and OKEx.
About The Author
Tony Chimdiuto