Jun 16, 2021
Gemini Now Supports Ankr and Alchemix, in Addition to New DeFi and Infrastructure Tokens
We are delighted to support a new set of DeFi, infrastructure, and data management tokens.
Trading and custody are now available for Alchemix (ALCX), Ankr Network (ANKR), Fantom (FTM), and Mirror Protocol (MIR). These four tokens are available for trading on our API/FIX and ActiveTrader™ applications for USD trading pairs, and on our mobile application and website for USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs.
API3 (API3) and DerivaDAO (DDX) remain available for custody.
With these new tokens, we now offer trading and custody for a total of 45 cryptos, with a further 13 cryptos available for custody. Learn more about all the cryptos we support here.
We are proud to be the first regulated platform in the United States and the UK to offer trading and custody support for FTM and ALCX.
As we continue to expand the range of tokens offered on our platform we are thrilled to add more DeFi, infrastructure, and data management tokens that help drive the crypto ecosystem forward and further support the scalability and utility of blockchain networks. Our industry is constantly evolving and our aim is to ensure we play a central role in cultivating the most exciting and dynamic projects in the crypto universe.
We look forward to supporting new crypto projects on our mission to empower you, the individual, through crypto.
Onward and Upward!
Note: DeFi presents unique risks. The listing of a DeFi token on Gemini does not indicate that Gemini or any regulatory authority has endorsed the underlying project or protocol. While some of our customers may choose to participate in the DeFi ecosystem, Gemini makes no recommendation that they do so.
Updated: June 17, 2021
Learn more about these new tokens below:
ALCX token is an ERC-20 token used to govern and incentivize liquidity for the Alchemix protocol. Its primary use cases are governing the Alchemix decentralized autonomous organization (DAO) and rewarding network participants for providing liquidity. Alchemix is an innovative, hybrid DeFi application that allows for the creation of yield-backed synthetic assets. With its unique ability to provide collateral that can also generate yield, Alchemix can offer a self-paying loan that has effectively no risk of liquidation. This product, “Vaults”, is the centerpiece of the Alchemix ecosystem and uses Yearn.finance as a building block for yield on underlying assets like DAI, with support for ETH and others coming soon. You can see the ALCX price and more information by following the link.
Mirror Protocol (MIR)
MIR is a utility and governance token that powers the Mirror Protocol. We support the Ethereum (ERC-20) version of MIR, which is a multi-chain asset. MIR purchased on Gemini can be withdrawn to Ethereum compatible wallets and swapped to the native version of MIR using a bridge. MIR has various use cases including protocol governance and rewarding liquidity providers on the platform. Holders of MIR can also engage in yield farming on other DeFi platforms by staking MIR tokens. In the future, users will be able to use MIR tokens as collateral to mint mAssets and a variety of derivative products. Mirror Protocol is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (i.e., mAAPL, mTSLA, etc.). These mAssets mimic the price behavior of real-world assets and give traders price exposure without the burdens of owning or transacting real assets. You can see the MIR price and more information by following the link.
Ankr Network (ANKR)
ANKR is an ERC-20 token that powers the Ankr Network. Its use cases include being a mode of payment for services on the Ankr platform, such as node deployment and API services, participation in on-chain governance, and serving as insurance for network participants. Ankr Network provides Web3 infrastructure for easy, accessible, and affordable deployments of a broad range of blockchain nodes, APIs, and decentralized cross-chain staking infrastructure. It is designed to lower entry barriers for retail and enterprise clients and developers who want to contribute to blockchain ecosystems. To increase adoption and contribution to various blockchain ecosystems, Ankr has teamed up with a range of notable partners over the years, including but not limited to companies like Avalanche, Binance, Blockstack, Compound, Covalent, Celo, Curve, Elrond, Harmony, Oasis, Polygon, Skale, and many more. You can see the ANKR price and more information by following the link.
FTM powers the Fantom network, and is used for staking, on-chain governance, and as payment for network fees. We support the Ethereum (ERC-20) version of FTM, which is a multi-chain asset. FTM purchased on Gemini can be withdrawn to Ethereum compatible wallets and swapped to the native version of FTM using a bridge. When interacting with the Fantom network, users pay gas fees (or transaction fees) in FTM tokens. The Fantom network is a smart-contract platform that allows developers to write, compile, and deploy smart contracts the same way they can on Ethereum. It runs on a directed acyclic-graph-based distributed ledger and is integrated with the Ethereum Virtual Machine (EVM) and the Web3JS stack. It uses an asynchronous Byzantine Fault-Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism called "Lachesis." You can see the FTM price and more information by following the link.
The DDX token is an ERC-20 governance and utility token with various use cases. DDX allows token holders to participate in the governance of DerivaDAO from day one with their token holdings (or delegated voting power) to determine the evolution of the exchange. DDX can also be used to pay reduced trading fees on the platform, and the token is staked (or bonded) by operators who run price feeds or matching engines. Lastly, DDX holders can stake the token to receive increased referral payouts from traders they have referred to the platform. DerivaDAO is the decentralized autonomous organization (DAO) that governs DerivaDEX, a Coinbase-backed decentralized exchange (DEX) for derivative contracts built on Ethereum. It features an open order book and on-chain settlement, and leverages off-chain price feeds, matching engines, and liquidation operators to enable fast and efficient transactions of synthetic assets. You can see the DDX price and more information by following the link.
Data Management Tokens
API3 is an ERC-20 utility token. API3 is a collaborative project that delivers traditional API services to smart contract platforms in a decentralized and trust-minimized way. Token holders must stake their assets in API3’s insurance collateral pool to participate in the protocol's governance. The collateral pool protects against issues that may arise from any disruption caused by the data distribution. When a user receives erroneous data, the collateral pool gets slashed and the user receives the slashed funds as compensation. API3 is governed by a decentralized autonomous organization (DAO), namely the API3 DAO. API3's code is open source, and its operations are transparent. You can see the API3 price and more information by following the link.