Uniswap, Chainlink, and Dogecoin now listed on eToro

eToro is committed to helping investors stay ahead of the rapidly changing crypto market.

One of the biggest recent trends is decentralized finance (DeFi), which is bringing a new breed of blockchain-based projects to the market that offer financial services such as lending, borrowing, and trading without intermediaries.

In light of this, and as part of the continual expansion of eToro’s crypto marketplace, we are excited to announce the launch of Chainlink (LINK), Uniswap (UNI) and Dogecoin (DOGE). These three cryptoassets are now available on the eToro investment platform, offering eToro users three further options to diversify their crypto portfolios.

Chainlink (LINK)

Chainlink is an Ethereum-based decentralized platform that connects smart contracts on any blockchain to data providers, web APIs, enterprise systems, cloud services, and more. Smart contracts are agreements between two parties that exist on a blockchain, which are executed when predetermined conditions are met (e.g. a payment is made upon the receipt of goods).

Chainlink introduces a key piece of missing functionality to the cryptoasset ecosystem; forging a link between blockchains and real-world data. The network operates through the use of oracles, software that acts as a middleman between real world data and smart contracts on a blockchain. LINK tokens, meanwhile, are the digital assets used to pay for services on the Chainlink network (just like ether on Ethereum). They can also be used by blockchain operators to stake in the network.

LINK first hit the market in September 2017, and since then has galvanized a community of ardent supporters, known as Link Marines. Prices have benefited from dozens of prestigious partnerships formed with both crypto firms and tech giants like Oracle and Google.

Through these partnerships, Chainlink promises to bring to life a wide range of exciting real-world use cases. For example, the Chainlink blog describes next generation car insurance that would use Chainlink to tap data from internal sensors, allowing smart contracts to monitor mileage, battery charge, and fuel use to automatically deduct costs. Other use cases are already proven. These include supplying real-world data for price feeds and verifying asset reserves.

Looking ahead, Chainlink is planning yet more technical innovation. The team published a new whitepaper in April, revealing a new “MetaLayer” network architecture that will further bridge smart contracts with the real world.

 

 

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Uniswap (UNI) 

Uniswap, an Ethereum-based platform, was built in 2018 as a decentralized crypto exchange (DEX). A DEX differs from a centralized crypto exchange in that it’s a person-to-person exchange without middlemen and transaction fees (other than blockchain fees). For those not familiar with the whole swapping ecosystem (whether it’s UNI, SUSHI, or Pancake), a “swap” basically refers to the exchange of one cryptocurrency for the equivalent value of another via a smart contract.

Uniswap sparked an explosion of interest in the Automated Market Maker (AMM) model. On Uniswap, traders can exchange assets peer-to-peer using smart contracts, and earn trading fees by depositing assets into liquidity pools. This has proven wildly popular; spawning a range of spin-offs and kick-starting the yield farming craze.

UNI, the native token of Uniswap, gives holders the right to vote on changes to the protocol. The token was originally created in September 2020, and has since soared in price as the project has risen through the rankings to become one of the top decentralized exchanges by trading volume.

Despite being blamed for Ethereum’s network congestion and exorbitant gas fees, Uniswap looks set for a bright future: The developers recently refined the protocol with the release of Uniswap V3, and are planning a Layer 2 scaling solution to further increase efficiency. Meanwhile, underlying blockchain Ethereum is set to boost transaction speed with the Ethereum 2.0 upgrade.

 

 

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Dogecoin (DOGE)

“The people’s crypto”, according to Elon Musk, Dogecoin was inspired by an internet meme, and rose to be taken under the Technoking’s wing as the proposed official currency of Mars.

Dogecoin’s origins lie on social media, where an adorable Shina Inu made a splash in 2013. Photos of the pet were captioned with broken English — Much wow, such doge! — representing the pup’s thoughts. This meme was picked up by software engineers Jackson Palmer and Billy Markus, who emblazoned doge’s famous face on a digital coin as a tongue-in-cheek joke.

Since then, tweets from Elon Musk and an abundance of infectious memes have helped Dogecoin earn its place in the crypto ecosystem as a well-loved mascot.

Beneath the adorable branding, Dogecoin is based on solid technical foundations. The crypto runs on the same proof-of-work consensus algorithm as Bitcoin, with a few key differences: Bitcoin has a fixed supply and relatively slow block times, while the supply of Dogecoin increases at a steady rate. This makes Dogecoin inflationary with faster and cheaper transactions — qualities that some say make it ideal for use as a real-world currency.

 

 

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

 

The launch of Uniswap (UNI), Chainlink (LINK) and Dogecoin (DOGE) brings the total number of cryptoassets available on eToro to 19. Along with LINK, UNI and DOGE, traders have access to BTC, ETH, BCH, LTC, XRP, DASH, ETC, ADA, XLM, EOS, NEO, TRON, ZEC, BNB, XTZ, and MIOTA.

eToro AUS Capital Pty Ltd, AFSL 491139. eToro offers CFDs over cryptoassets. CFDs are leveraged and risky financial products and may not be suitable for all investors. Your capital is at risk. This information is of a general nature only. It has been prepared without taking into account your objectives, financial situations or needs and you should, before acting on the advice, consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. You should read and consider our PDS before making any decision about whether to trade CFDs.

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