This latest batch of coins brings the total number of cryptocurrencies on the Newton platform up to 24. A number that will continue to climb throughout the summer. We plan to be your one-stop-shop for cryptocurrency in Canada. Read on to learn more about the coins that launched today.
Maker (MKR) was created by MakerDAO, an Ethereum-backed network that is part of a larger project called the Maker Protocol. The token is one-of-two tokens utilized by the Maker Protocol, and acts as the governance token that powers smart contracts on the network. Staking MKR allows users to vote on proposals and changes to the project.
Yearn (YFI) is a yield aggregator built on Ethereum. The platform makes it easy to stake liquidity in a variety of pools at once. YFI is the governance token that runs the ecosystem and allows users to vote on system improvements.
Pax Gold (PAXG) is an ERC-20 stablecoin that is backed 1:1 with an ounce of gold held by the Paxos Trust Company. PAXG tokens can be exchanged for their equivalent in gold, and were designed to be a faster more efficient way of trading the physical asset.