AXS, CHZ, FTM + 9 more added to CoinJar
We’re excited to welcome 12 new tokens to the CoinJar lineup. From NFTs to sporting tokens, synthetic assets, blockchain oracles and DeFi pioneers, these coins represent some of the most innovative projects in the crypto space.
- Axie Infinity (AXS)
- Fantom (FTM)
- TerraUSD (UST)
- Amp (AMP)
- Chiliz (CHZ)
- Uma (UMA)
- The Sandbox (SAND)
- Loopring (LRC)
- Injective Token (INJ)
- Badger DAO (BADGER)
- Band Protocol (BAND)
- Mirror Protocol (MIR)
From today, you’ll be able to buy and sell all of these coins on CoinJar, joining the 30 cryptocurrencies that our users can already trade, store, send and spend.
Update your app to get access to the full available range of tokens on CoinJar.
These tokens won’t initially be available for purchase through CoinJar Bundles or on CoinJar Exchange, but will be added in the near future.
Also note that we currently only support ERC-20 transfers on the Ethereum network. Layer 2 tokens – FTM, CHZ and BAND – have to be transferred using an ERC-20 address, not their own network. Any transfers to or from CoinJar using a non-ERC-20 address will be lost and may not be able to be recovered.
Axie Infinity (AXS) is a blockchain-based game built on the Ethereum network. Using similar mechanics to the Pokemon universe, players collect creatures known as Axies and raise, battle and trade them with others. Axies are randomly generated, meaning that each one you collect is an NFT (non-fungible token).
One of the most popular blockchain-based games, Axie has hundreds of thousands of users who have traded hundreds of millions of dollars worth of Axies in the in-house NFT marketplace.
AXS (Axie Infinity Shards) is the governance token of Axie Infinity. It gives holders the right to vote on upgrades to the game and how to use the community treasury and can also be used in the NFT marketplace. Users earn AXS either in-game or by staking their tokens.
Amp (AMP) is a multi-platform insurance token designed to protect transfers while they’re processed by the blockchain. It achieves this through the use of shared collateral pools.
As blockchain transfers can take anywhere from a few seconds to a full day (depending on the network and how much congestion it’s experiencing), Amp offers users protection against price volatility while the transaction is being processed. The collateralised system also means that assets can be used by recipients instantly without having to wait for network confirmation. Amp can be used to source collateral for real world asset transfers too.
AMP is the token used in the Amp collateral pools. People contributing AMP tokens receive more AMP as a reward, but their tokens can be liquidated in the case of a failed transaction. People using the collateral pay 1% transaction fees which are used to buy AMP on market and distribute it to those staking their tokens.
USD Terra (UST) is a US-dollar pegged stablecoin built on the Ethereum network. At all times the value of a single UST token is one US dollar, hence the term stablecoin.
Similar to DAI, UST is a decentralised stablecoin, meaning that it manages its value through an algorithm rather than physically holding the correct amount of USD. In UST’s case, minting each dollar requires the network to burn an equivalent amount of the Terra network’s reserve asset, LUNA.
Fantom (FTM) is a protocol layer blockchain (similar to Ethereum) on which people can transact, launch smart contracts and build decentralised apps, with a focus on DeFi projects.
Built on top of Ethereum, Fantom employs a unique consensus mechanism (known as Lachesis) to deliver faster and cheaper transactions – typically 1-2 seconds and costing 0.001 cents. Fantom is capable of handling thousands of transactions per second.
FTM is the native token of the Fantom network, used to pay for transactions and given to users in the form of staking rewards. It also offers holders the ability to vote on changes to the protocol.
Chiliz (CHZ) is the token that powers Socios.com, the world’s first blockchain-based fan token platform.
Users use CHZ to buy tokens for their preferred club, which then gives them access to specific fan content and experiences.
More than 20 of the world’s biggest sporting clubs have already released a token through Socios, including Manchester United, Juventus, Paris Saint-Germain, AC Milan and FC Barcelona.
Universal Market Access (UMA) is a platform built on the Ethereum network for the creation of synthetic and derivative asset marketplaces. While similar to Synthetix, UMA’s focus is on providing the infrastructure for other companies to build their own marketplaces, while also offering a more diverse and niche range of trading opportunities.
UMA is the governance token of Universal Market Access, giving holders the ability to vote on changes to the protocol’s payment mechanics and system upgrades.
The Sandbox (SAND) is a virtual world (similar to Minecraft) that allows players to build, own and monetise land and other assets that they’ve created as NFTs. Companies and people purchase land so that they can host events, set up games, advertise projects or just for the sake of it.
SAND is the native token of the Sandbox, used for transactions and interactions, as well as to offer staking rewards and allow people to take part in governance decisions.
Loopring (LRC) is a layer-2 scaling solution built on the Ethereum network.
With a focus on improving the performance and security of decentralised exchanges (DEXs), Loopring uses a technology called zkRollups to achieve transaction throughput of up to 1000x the regular Ethereum network at 1/100th of the cost.
LRC is the native token of the Loopring network. It’s used to pay for transactions and take part in governance decisions, and is paid out to those who participate in the network’s liquidity pools.
Injective Protocol (INJ) is a decentralised, cross-chain derivatives exchange built on the Ethereum network. It allows users to access, trade and create futures, options and other synthetic markets.
Emerging as an IEO from Binance Launchpool, Injective is a so-called Layer 2 protocol, offering users a fast, efficient trading platform without the potentially crippling fees of transacting on Ethereum.
The INJ token lets you trade and create new markets, as well as take part in protocol governance (i.e. voting on new listings and fee schedules). You earn INJ by staking, contributing to liquidity pools, hosting exchange nodes and trading profitably.
BadgerDAO (BADGER) is a decentralised autonomous organisation (DAO) launched in December 2020 with the aim of integrating Bitcoin more effectively with the DeFi economy.
While DeFi platforms already offer a Bitcoin equivalent known as Wrapped BTC (WBTC, available on CoinJar), the system usually requires centralised custodians to hold the users BTC while they engage with the DeFi ecosystem.
BadgerDAO overcame this by creating an entirely decentralised BTC equivalent known as DIGG. DIGG uses an algorithm to maintain its peg to BTC, much like the way the stablecoin DAI maintains its peg to the US dollar. DIGG tokens can be deposited with BadgerDAO’s own vaults, which then deploy it across a variety of DeFi protocols in a similar way to YFI.
BADGER is the governance token of BadgerDAO. It allows holders to vote on changes to the BadgerDAO protocol and fee structures, while BADGER tokens are paid to developers and users of the platform.
Like Bitcoin, only 21 million BADGER tokens will ever exist.
Band Protocol (BAND) is a cross-chain data “oracle” that is able to take real-world data and supply it to smart contracts and other on-chain applications (similar to Chainlink).
Oracles were invented to overcome a basic issue with smart contracts: how do you verify that a condition has been met if that condition is dependent on data from outside the contract? e.g. the price of Bitcoin on a certain date.
BAND tokens can be staked to help verify transactions on the network and are also used by smart contract developers to pay for the services of the network’s oracles.
Mirror Protocol (MIR) is a decentralised derivatives platform that allows for the creation and trading of synthetic versions of real-world assets through what’s known as Mirrored Assets. Users create markets by committing 150% of the value in collateral and the price is recalibrated every 30 seconds using decentralised oracles (currently performed by Band Protocol).
MIR is the protocol’s governance token, giving holders the ability to vote on changes to the protocol and the development of the project. It can be earned by staking MIR tokens, as well as providing collateral to liquidity pools.
Happy Trading!
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