Coinbase announces the listing of YFI and LRC tokens
San Francisco-based crypto exchange Coinbase announced today that it would now support Loopring (LRC) and yearn.finance (YFI) at Coinbase.com and in the Coinbase Android and iOS apps. LRC and YFI were made available in all Coinbase-supported regions, with the exception of New York, USA. The announcement has been made public almost a week after Coinbase Pro listed YFI and LRC.
https://t.co/MhFamYzNUF (YFI) is launching at https://t.co/bCG11KMQ6s and in the iOS and Android apps within the next 15 min. You may need to refresh your app to properly buy, sell, convert, send, receive, or store YFI. We'll update when YFI is fully live. https://t.co/ujlU13LauC
— Coinbase (@coinbase) September 17, 2020
YFI is a native token of the yearn.finance, a decentralized finance (DeFi) platform, which supports aggregated liquidity and automated market making by moving providers’ funds between platforms such as dYdX, Aave, and Compound. Users earn YFI by contributing liquidity to yearn.finance’s liquidity pool and use the token for platform governance as well. On the other hand, LRC is an Ethereum-based token that is open-sourced and a non-custodial exchange protocol that allows users to build non-custodial, orderbook-based exchanges on Ethereum by leveraging zero-knowledge proofs.
At the time of writing, Loopring LRC was worth approximately $0.2 today with the LRC price going up 8% in the last 24 hours, according to data from CoinGecko. Moreover, Binance crypto exchange is said to be the current most active market trading LRC tokens.
In more recent news, both Binance.US and Coinbase Pro have today listed Uniswap UNI token within a few hours of its launch.
Update: The article originally referred to “YFI” as “YRF”, which has been corrected.