7 Cryptocurrency Derivate Exchanges With Their Own Coin
Certain coins have become native tokens at some exchanges. Native tokens are digital assets created for specific use on their native platforms.
Native tokens represent the software technology known as the distributed ledger technology or blockchain.
For instance, the Binance exchange has its token known as the Binance Coin (BNB) and it can be used to pay for fees such as listing fees, exchange fees, withdrawal fees, and more.
Native tokens promote transparency of the exchange that owns it.
The creation and active trading of a native token can significantly increase investor participation since the exchange makes available its own coin on the platform. A native coin essentially gets more sponsors and trust compared to its contemporaries.
Having considered why native tokens endear more users to a cryptocurrency exchange, let’s examine exchanges that have a native coin.
Cryptocurrency Derivate Exchanges With Their Own Coin
1. Binance
BNB Coin also referred to as Binance Native Token is a cryptocurrency token created by Binance itself.
As the original coin of the Binance Chain, it is used in many ways.
One of them is making in-store payments, making payments for transaction fees at the exchange, promoting dealings on the chain, and much more.
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2. Uniswap
The Uniswap coin is a native coin of the Uniswap and it’s a protocol for automated token exchange. The Uniswap Protocol has functioned as an unworthy and extremely centralized financial infrastructure.
As Uniswap has proven product-market suitable for extremely centralized financial infrastructure combined with its independently blooming platform.
It is now specifically well set for development, community-influenced growth, and self-sufficiency. The launch of UNI fulfills this purpose, allowing collective community control.
In addition to a diverse, healthy, and committed system of governance that will guide the protocol assiduously into the future.
A summary of the token reveals a 91% concentration by majority holders, 0.76 price correlation with Bitcoin, and $721.93m was transacted within days.
About 47% of its customers are from the East, while others from the West.
3. Crypto.com
Crypto.com Coin is the original token of the Crypto.com Chain that is used in mobile payments.
The exchanges itself was established in 2016 to push the acceptance of cryptocurrency worldwide.
The main products of Crypto.com are:
The MSO Visa Card,
Crypto.com Wallet and Card app,
A metal card with no yearly charges. It’s an avenue to purchase, sell and pay with Cryptocurrencies, and the Crypto.com Chain is said to allow customers to receive payments and pay via cryptocurrency from any place, free of charge.
The organizational structure is centralized, a working product development status, presence of a hardware wallet, and no hash algorithm.
A summary of the token reveals a 97% concentration by majority holders, 0.85 price correlation with Bitcoin, $22.04m transacted in 7 days, and a customer transaction demographics of 51% East.
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4. SushiSwap
SushiSwap asserts to be an upgrade of Uniswap featuring $SUSHI tokenomics.
Its protocol plans to properly align incentives for network players by incorporating profit-sharing and network effects to the prominent AM model.
The token is similar to Uniswap developed with the aim of taking out power from VCs and sending it back to the community.
Its creator, Chef Nomi sold the development fund of the project (10 percent of supply) and bestowed control to Sam Bankman-Fried of FTX who envisages moving SushiSwap to Solana to support Serum.
A summary of the Token unveils a +94% concentration by majority holders, 0.74 price correlation with Bitcoin, $1.25b transacted in 7 days, and a customer transaction demographics of 51% East.
5. SwissBorg
SwissBorg is localizing wealth administration by making it just, lively and community-centered.
Its headquartered in Lausanne, Switzerland, and has a global team of over 75 members.
Swissborg and has obtained two licenses, the first is to offer virtual currency exchange and the other is a virtual international currency wallet.
SwissBorg believes that the technology of the blockchain can encourage people to manage their finances, this is the next step that will get us closer to a world of decentralized nations where everyone is accepted and handsomely rewarded for their contributions.
The Multi-use Swissborg Token also known as CHSB
The SwissBorg token is at the core of their ecosphere, providing the following utilities:
~ Staking
Lock SwissBorg token inside the wealth app enables users to trade at the choicest prices with no fees.
~ Right to Vote
Users can influence the future of SwissBorg by voting at their referendum.
~ Private Access
Users will be given private access to innovative wealth administration products via the app.
~ A Protect and Burn Mechanism
20% of the profits generated on fees in the Wealth App is directed towards maintaining the price of their token.
When the price gets to a bearish level, buy orders are placed automatically. All CHSBs that have been bought are burnt afterward in a see-through manner.
~ Community Rewards
The product offered by SwissBorg is its Wealth App. Wealth App is SwissBorg’s Flagship product that permits users to trade digital assets safely and invest using 18 fiat currencies with protection from MPC keyless technology. The Apps’ radical Smart Engine makes investing clear.
Technical Details of SwissBorg
An Ethereum blockchain, a semi-centralized organizational structure, presence of a hardware wallet, open-source, on-going development status, and no hash algorithm.
Summary of the Token
A 66% concentration by majority holders, 0.51% correlation with Bitcoin, $12.39m transacted in 7 days, and a customer transaction demographics of 42% East.
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6. Bitcoin BEP2
Bitcoin BEP2 is the native token of BEP2 backed absolutely by bitcoin. Its reserved addresses are released publicly for individuals to edit.
A Binance Chain blockchain, centralized organizational structure, single token development status, and no hash algorithm.
A trading pair will be generated on Binance amid the fixed token and the native token. For example, BTCB/BTC.
Big buying orders will be kept on the trading pair at Binance having a price spread of about 0.1%. This offers a means for users to convert from the fixed Coin back to the original coin on Binance.
When the buy order is complete, a new order will be opened and the same amount of money will be sent from the reserved address to Binance.
The total buy order and the money on the disclosed reserve address will be larger than the aggregate supply of the fixed token which would guarantee theoretically a 100% backing.
7. Deepcoin
Deepcoin is a centralized crypto exchange based in Singapore, targeting primarily the Asian market. Launched in 2018 by Eagle Huang, the platform offers a wide range of financial services, including spot trading, derivatives, wealth management, and DeFi investment.
Deepcoin supports 216 active trading pairs and popular fiat currencies such as USD, EUR, and GBP. The exchange has a commission rate of 0.10% for both takers and makers in the spot trading market, though spot trading was free as of September 2022.
Deepcoin also supports margin trading with leverage up to 125x. Note that the platform is not available to residents of certain restricted countries, including the United States and Hong Kong (China).
In Conclusion: The Future of Native Tokens and Cryptocurrency Derivative Exchanges
The growing popularity of cryptocurrency derivative exchanges with their own native coins is a testament to the increasing demand for decentralized finance solutions. These native tokens not only promote transparency but also incentivize users to participate in the platform’s ecosystem, fostering a sense of ownership and community.
As the world of cryptocurrencies continues to evolve, exchanges like Binance, Uniswap, Crypto.com, FTX, SushiSwap, SwissBorg, and Bitcoin BEP2 are setting the stage for further innovation and development. By offering unique utilities and services through their native tokens, these platforms are striving to meet the diverse needs of traders and investors.
While native tokens offer numerous benefits, it is crucial for users to carefully research and evaluate the potential risks and rewards associated with each platform. As the cryptocurrency landscape continues to change, staying informed and making well-informed decisions is essential for success in the digital asset space.
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