{"id":563542,"date":"2020-08-30T19:49:44","date_gmt":"2020-08-30T16:49:44","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=563542"},"modified":"2020-08-30T19:49:44","modified_gmt":"2020-08-30T16:49:44","slug":"okex-bitrue-become-hybrid-exchanges-offering-cefi-and-defi","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/okex-bitrue-become-hybrid-exchanges-offering-cefi-and-defi\/","title":{"rendered":"OKEx, Bitrue Become Hybrid Exchanges Offering CeFi and DeFi"},"content":{"rendered":"
Quick summary:<\/strong><\/p>\n Late last week, the two exchanges of Bitrue and OKEx announced that they will start offering DeFi services alongside the traditional centralized finance services we are used to. By doing so, both Bitrue and OKEx become hybrid exchanges by offering both CeFi and DeFi<\/a>.<\/p>\n In the case of Bitrue, the announcement<\/a> was made on the 28th of August and included plans of a token sale of the Bitrue Finance Token (BFT). The latter would be a new token on the platform that will power Bitrue’s current financial services as well as the new DeFi offerings.<\/p>\n The team at Bitrue also shared a white paper<\/a> for the improved Bitrue Financial Services. The white paper outlines the following uses of the Bitrue Finance Token (BFT).<\/p>\n – Can be received as interest on coins invested in Power Piggy<\/p>\n – Can be used to pay interest owed on loans<\/p>\n – Can be used to vote to decide on new coins added to the Bitrue Financial Services suite<\/p>\n – Can be used as a balancing mechanism for the supply and demand of coins within the decentralized lending system<\/p><\/blockquote>\n With respect to OKEx, the exchange’s CEO, Jay Hao, explained via Twitter that they would be integrating Compound Finance (COMP) to provide DeFi services on the exchange. Mr. Hao’s tweet making the announcement can be found below.<\/p>\n Here we go – #DeFi<\/a> Lending Marketplace on @OKEx<\/a>.<\/p>\n It'll be the first hybrid lending aggregator of #DeFi<\/a> & #CeFi<\/a> in the industry, with @compoundfinance<\/a> integration on the way.<\/p>\n We're here to redefine #crypto<\/a> lending experience: https:\/\/t.co\/xQiqoHhICs<\/a> pic.twitter.com\/QTfVjGoIws<\/a><\/p>\n — Jay_OKEX_CEO (@JayHao8) August 29, 2020<\/a><\/p><\/blockquote>\n\n
Bitrue’s DeFi to be Powered By the Bitrue Finance Token (BFT)<\/h2>\n
OKEx Taps Compound Finance (COMP) for its DeFi Offerings<\/h2>\n
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