Centralized exchanges continue to put an increasing focus on DeFi projects. Not just in terms of listing new tokens, but actively integrating these protocols and ecosystems. As a result, BitMax users will soon be able to tap into the HARD Protocol.
BitMax Gives Users What They Want
It is no secret that DeFi is a massive force in the cryptocurrency world today. Dozens of projects have launched and continue to launch every single week. Not all of them are worthwhile, but there is always some degree of innovation to keep tabs on/ Kava’s money market HARD Protocol is such an example, as it is the first major cross-chain liquidity solution.
More and more users of centralized exchanges actively seek out decentralized finance solutions. Unfortunately, they will often have to leave the exchange ecosystem, which is far from ideal. The solution to this problem is simple” CEXs integrating DeFi projects and protocols directly.
Binance was one of the first exchanges to do so. However, it is well worth paying attention to other trading platforms as well. BitMax, for example, is the first to officially incorporate the HARD Protocol. The token can be traded on the platform – as well as Kava’s USDX – and pools will be opened in near future.
Given the demand by BitMax users to gain early access to this cross-chain DeFi protocol, the decision was an easy one. It is a good way to increase the customer base and gain a competitive edge over other platforms. It is no longer just about listing the tokens themselves.
Why HARD Protocol Matters
For those who have not kept up with recent developments, HARD Protocol may sound a bit foreign. The money market developed by the Kava team taps into cross-chain liquidity. Holders of BTC, XRP, BNB, and BUSD will be able to earn a yield on their holdings. It is even possible to leverage one’s position through this protocol.
Since launching, Kava has continued to make its mark on the industry. Its USDX stablecoin has proven successful. BitMax has now opened a trading market for this asset, as well as the HARD token itself. The USDX pool for liquidity is also open, and the HARD pool will launch tomorrow at 10am EST.
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