New EOS, HIVE, Tezos, Balancer and COMP Trading Pairs with STEX!

26 Jun, 2020

At STEX, we’re always looking for new ways to help you win by expanding services that make trading fast and easy, so you can take advantage of the exciting digital crypto market movement.  That’s why we’re pleased to announce we’re adding even more trading pairs to our site that expand opportunity for you.

We’ve added five of the most active trading pairs to the STEX platform:  EOS, HIVE, Tezos, Balancer and COMP are all experiencing high volumes of activity and interest in the digital currency market.  To help you choose what trading pairs to add to your wallet, we’ve created a rundown on each.  Understanding what makes each coin unique can help you make better buying and selling decisions as the market is moving fast!

So take a quick look at what’s behind these five trading pairs.  Balancer and COMP are already live on our site, and EOS, HIVE and Tezos will be up and running on June 29.

EOS (EOS)

EOS is currently the sixth largest blockchain network in the crypto universe. Like Ethereum, this decentralized platform allows users to create and develop apps quickly and easily on the network. The apps (dApps) hosted on EOS include large commercial scale platforms which benefit from the ability to collaborate and perform tasks through the EOS server.

What makes EOS different from many other digital networks is that operates like a democracy.  Yes, that’s right – just like a democratic government, EOS members have voting rights and they use it to vote for block producers who confirm transactions on the system. The voting, which is called delegated proof of stake (DPos), is a way the EOS network rewards the validators.

The EOS coin is the digital currency of the EOS network.  Developers use the EOS coins to use the network’s resources to build and run dApps.  Or, if you’re not building at this time, you can “rent out” your share of the network to someone else.

EOS has been around since 2017 and has more than 100 dApps and 6,000 daily users. With a market cap of over $2.5B USD. Trading starts Monday 29th June 12:00 PM UTC on STEX Withdrawals open Tuesday 30th June 12:00 UTC.

HIVE (HIVE)

Hive is a DPoS powered blockchain & cryptocurrency. Fast. Scalable. Powerful. Hive has a thriving ecosystem of dapps, communities & individuals.

HIVE trading starts Monday 29th June 12:00 PM UTC. Withdrawals open Tuesday 30th June 12:00 UTC.

Tezos (XTZ)

Tezos is an open-source decentralized platform that gives developers the tools to create smart contracts and build applications that can’t be shut down by third parties.  Like EOS, Tezos operates like a democracy as well, as users have a say in any proposed changes to the platform’s core protocol.  By giving all users a say – known as “self-amendment” to any changes, Tezos can be upgraded and avoid a “fork” in the network, which can occur when a blockchain community is divided in the future direction of a platform.

This democratic way of operating also extends into Tezos’ Proof-of-Stake (POS) process.  Stakeholders on its platform can participate in the consensus process which is core to verification of transactions on blockchains. These participants are rewarded for helping to keep the network secure and stable.   Tezos recently announced its association with Chainalysis and Coinfirm, as it works to enhance compliance with regulations.

Tezos trading starts Monday 29th June 12:00 PM UTC. Withdrawals open Tuesday 30th June 12:00 UTC.

Balancer (BAL)

Balancer is a digital protocol designed to do what its name suggests - balance digital portfolios that include multiple tokens.  The Balancer Protocol acts as an automated market maker, eliminating the need for a portfolio manager to deal with rebalancing procedures that are often complicated as well as expensive.  It’s also a great way for investors holding ERC20 tokens to generate income from idle coins that are sitting in their wallets.

Balancer Pools, which are the core building blocks of the protocol, include two or more ERC20  tokens which are weighted differently.  The Balancer protocol continuously rebalances the pool and each trade that takes place in a pool generates a fee to the pool owner.  Balancer is now active on STEX for trading, deposits and withdrawals.

Compound (COMP)

This week, Compound (COMP) is being touted as the fastest-growing digital currency in the market.  It’s an Ethereum token for the Compound digital protocol that lets users earn interest on coins they supply to others on the network.  Like fiat currency protocols, borrowers pay interest on their digital coin “loan.”  The basic premise harks back to the old advertising messages of banks: “let your money work for you.”

Just this week, users on the platform began earning the tokens, which accounts for the tremendous surge in activity and market cap.

The Compound protocol also gives users a say in its governance and upgrades proposed by COMP coin holders. Any upgrades that are proposed are reviewed and voted on by the network’s participants within three days.  Once the voting ends, changes that are approved by the network are sent to a Timelock, where they can be implemented after two days.

Deposits, trading and withdrawals are currently live on STEX.

No matter which pairs you choose to trade, be sure to take advantage of our powerful crypto platform and Smart Services, which are designed to make ordering seamless and as fast as possible.  Buy and sell crypto using your bank card. Buy crypto using fiat-currency.  Analyze your trades and get real-time reports.  And do it all from one fast platform – STEX!

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