Cryptocurrency exchange MEXC has elected to support Yieldly’s native token, YLDY, in an Algorand-centric listing, alongside ALGO and the first-ever iterations of USDC and USDT on the ASA ecosystem. The initial trading pairs will consist of a Yieldly/Tether (YLDY/USDT).
Founded in 2018, MEXC is a user-friendly, all-in-one digital asset trading platform that allows individuals to utilize a wide range of services ranging from spot and margin trading to leveraged ETF acquisitions to derivatives trading. The exchange ranks in the top 10 exchanges with a daily trading volume of $3 million.
In terms of reach, MEXC’s global client base of more than 5 million users spans an ever-growing list of countries — including England, Vietnam, Philippines, Portugal, Malaysia, Bangladesh, India, among many others.
Speaking on the fruitful partnership, Seb Quinn, CEO of Yieldly, said: “We’re delighted to be listed on a trusted exchange like MEXC and ecstatic to be placed alongside Algorand’s native ALGO token and the industry’s first listing of ASA-based USDC and USDT. This helps take us one step closer to fulfilling our goal of providing Algorand users seamless connectivity to the broader DeFi market.”
In one of his interviews, John Chen Ju, MEXC CEO, said: “MEXC is continuously pushing boundaries, while holding on to its values and beliefs. Fruitful partnerships with valuable players of the crypto-sphere will drive the industry forward and only time will show the devotion and professionalism MEXC continuously offers.”
To help bolster consumer confidence, over the last couple of years, MEXC has been able to secure a number of regulatory compliance licenses for countries like Switzerland, Canada, Australia, the United States of America, and Estonia.
A quick recap of what we’ve been up to
The listing comes just a few weeks after we announced that YLDY had officially secured listing for 15 July with S.Korea-based top-20 exchange Probit as well, making good on our promise of continued growth and expansion.
Last month our YLDY-ALGO pool went live, allowing Algorand enthusiasts to utilize a fully audited platform to accrue rewards for themselves using ALGO tokens. At the same time, we also released Algorand’s first no-loss prize game, which had tens of thousands of ALGO up for grabs.
Not only that, but we have also devised the ecosystem’s first interoperability solution that allows for any ASA-based DeFi token to seamlessly communicate with the Ethereum network. By deploying our ERC-20-based cross-chain bridge , we have taken a massive leap forward in solving many of the technical issues preventing Algorand from reaching its full potential.
So, if you are looking to trade YLDY, stake ASAs, or just explore the burgeoning DeFi market in general, the listing should be a welcome surprise.
Originally published at https://yieldly.finance on July 13, 2021.
