The leading crypto exchange Binance is supporting a new DeFi (decentralized finance) project that allows traders to earn revenue by supplying and borrowing crypto assets.
The exchange is supporting Hard Protocol (HARD) through its initial exchange offering (IEO) platform Binance Launchpad.
Hard Protocol bills itself as the “world’s first cross-chain money market” and uses the Kava blockchain for its security, price feeds, and cross-chain features.
Its lending platform will initially support BTC, XRP, BNB, BUSD, KAVA, and USDX.
The crypto asset HARD is the native governance token of the platform and will be used to distribute mining rewards and to reward people who deposit and borrow supported assets.
According to new data from Messari, investors using Binance Launchpad have reaped significant price returns on projects that offer a large percentage of their tokens in public sales.
Projects offering 9% or more have earned the most returns in recent months. Binance Launchpad is distributing 7.5% of the total token supply for HARD.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/sdecoret
