LINK and DAI Go Live on Kraken

LINK and DAI Go Live on Kraken

Yesterday saw the launch of two new trading options at the exchange platform, Kraken, with the inclusion of reputable and established tokens, LINK and DAI.

Those looking to get involved in these two tokens at Kraken can do so immediately with them already live for trading via Kraken, Kraken Pro, and OTC.

Both of these new additions have an established reputation in the world of crypto, but if you haven’t heard about them or what they do, carry on reading as we detail some background on the latest Kraken listings

LINK Token

LINK is the token of Chainlink, an organisation that launched in 2017 focusing on connecting decentralised peer-to-peer networks and smart contracts to real-world data, events, and payments. As such, it has multi-faceted benefits for users, but the core focus is a nutshell is to bridge the gap between on-chain contracts and off-chain data.

Chainlink’s functionality and reputation has made waves both within the blockchain community, as well as further afield. A testament to this is the fact that major companies such as Google and Oracle are looking towards Chainlink’s use cases to help them in their own endeavours.  

LINK itself is an Ethereum ERC-20 token and defined as a token that “incentivizes participating oracles to maintain minimum service level agreement (SLA) standards while reporting accurate data”.  Currently valued on the market at $1.72 USD, it has done exceptionally well this year in terms of value. With it seeing an all-time high of $4.54 USD at the end of June 2019 and is currently ranked 18th by Coinmarketcap.

With this considered, both the company and the token are doing very well and look like they have very bright futures. Those looking to invest in LINK can do so via pairs, LINK/USD, LINK/EUR, LINK/XBT, LINK/ETH

DAI

Launching also in 2017, DAI is an asset that has been reported on several times this year, as its parent company and its investors tinkered with the price of the coin’s Stability Fee via a series of votes over several months.

DAI takes the form of a Stablecoin and thus, hedges against crypto price volatility with each DAI pegged 1:1 with the US dollar.  It also benefits users by providing them with immediate liquidity and can be used as a means to make payments and transactions online.

Dai is based on Ethereum and operates via smart contracts from MakerDAO and feedback systems that involve Collateralized Debt Positions (CDPs). When users enter these CDPs, new Dai Tokens are created and will be burnt when these positions are closed, which involves the aforementioned stability fee. DAO CDPs are guaranteed to be higher than the amount of debt, this means they can be used as a “store of value” with traders assured that they remain around the same value as the pegged price with the US Dollar.

As it is a stablecoin, by nature, the price fluctuation of DAI is very minor. However, it did see an all-time high of $1.37 USD in February 2018. However, currently, it is set as its pegged price of $1.00 and is ranked at place 57 on the Coinmarketcap. Users can opt to get involved via the pairs DAI/USD, DAI/EUR, DAI/USDT, ETH/DAI.

These two listings follow on from a series of new options available at Kraken, such as BAT and WAVES in August. and ICX earlier this month.

Recently Similar News

Latest Guides

Latest News

Blockchain,Casino,Cryptocurrency

Bao Casino Offering High Roller Bonus

Bao Casino, the online cryptocurrency based casino, is offering a large bonus for high rollers. Bao Casino, the online cryptocurrency based gambling site, is offering a new bonus for their high rollers. It is very easy to qualify for this promotion and is available to anyone who has the capital. For a limited time only, […]

28 September, 2020
Binance,Blockchain,Cryptocurrency,Exchange Platforms

Binance Visa Cards Are Now Available in Europe

Binance, the largest cryptocurrency exchange online, has recently released a Visa card in Europe, allowing users to get up 8% cashback on all purchases. Binance, the world largest cryptocurrency exchange, has partnered with Visa in order to continue their expansion into the European market and released the Binance Visa card. This card is available to […]

28 September, 2020
CFD Trading Platform,Cryptocurrency,Exchange Platforms,Trading

IQ Option Identifies Some of the Biggest Obstacles in Trading

IQ Option, the CFD and cryptocurrency trading platform, has recently created a blog post highlighting some of the biggest obstacles traders face when trading. IQ Option, the online cryptocurrency and CFD trading platform, has released a blog post highlighting some of the biggest and most challenging obstacles a trader can face while conducting their trades. […]

28 September, 2020
Bitcoin,Crypto Wallets,Cryptocurrency,Trading

Kraken Wins First Ever U.S. Bank Charter Approval For A Cryptocurrency Exchange

Kraken, the online cryptocurrency exchange, has been granted regulatory approval to be the first cryptocurrency firm with a Special Purpose Depository Institution (SPDI). Kraken, the large cryptocurrency exchange, has recently been granted approval to operate as the world’s first Special Purpose Depository Institution (SPDI), which for now is being called Kraken Financial. The license was […]

28 September, 2020
Binance,Bitcoin,Ethereum

Binance Reviews The Month In Cryptocurrency And Highlights DeFi

Binance, the online cryptocurrency exchange, has released their monthly review, highlighting the historic rise of decentralized finance. Binance, the largest cryptocurrency exchange in the world by volume, has recently released their monthly review of the cryptocurrency space, highlighting the massive growth in the decentralized finance (DeFi) sector. Besides the launch of Binance Smart Chain, Binance […]

28 September, 2020
Bitcoin,Coinbase,Cryptocurrency,Decentralised

CoinMarketCap Identifies Bullish Events for Bitcoin and Explains the Drama Behind SushiSwap

CoinMarketCap, the world’s largest cryptocurrency market cap aggregator, has released an opinion piece on events surrounding Bitcoin and all the drama behind the SushiSwap saga. CoinMarketCap, the large online cryptocurrency market capitalization aggregator, has created an analysis on events surrounding Bitcoin and the craziness surround the latest DeFi craze, SushiSwap. The main event related to […]

28 September, 2020
Decentralised,Ethereum,Exchange Platforms,Trading

Uniswap Launches UNI Governance Token With Airdrop

Uniswap, the large decentralized exchange, has recently launched their governance token, UNI, and have given away 15% of the token to users. Uniswap, the Ethereum based decentralized exchange and decentralized financed (DeFi) application, have recently launched the governance token, UNI, and have airdropped a large portion of the token supply. All in all, Uniswap distributed […]

28 September, 2020
Bitcoin,Changelly,Cryptocurrency

Changelly Explains The Concept of Short Selling

Changelly, the online cryptocurrency exchange, has recently released an article on short selling and how you can take advantage of it as a user. Changelly, the larger online cryptocurrency exchange, has created a blog post highlighting short selling and what their users can do to take advantage of this trading feature. Short selling can take […]

28 September, 2020