Gemini is Adding Support for Dai, Chainlink and Orchid This Month

Gemini is Adding Support for Dai, Chainlink and Orchid This Month

Gemini, the New York-based crypto-exchange, announced that the exchange and its trading platform will add support for three more tokens, namely Dai, Chainlink and Orchid before the end of April.

Gemini said in a blog post that it would add trading pairs featuring Dai (DAI), Chainlink (LINK), and Orchid (OXT). The new additions will bring up to nine times the total number of tradable tokens on Gemini’s platform.

New Cryptos Added According to Market Models

In particular, Gemini has chosen these tokens for their proven markets and novel consumption models, suggesting demand will continue to grow as the ecosystem evolves.

Dai is the collateral-backed stablecoin on the Decentralized Finance (DeFi) platform of the Maker Protocol, with a soft-peg to the US dollar. Chainlink creates bridges between smart blockchain contracts and off-chain data, while Orchid is a peer-to-peer, decentralized, virtual private network (VPN) bandwidth marketplace.

Deposits of the new tokens will be accepted on April 24, from 9:30 am ET, with trading scheduled to follow soon afterwards. Existing traders will need to create a new Ethereum deposit address if they wish to deposit the newly supported tokens as there will be no support for existing addresses.

The new additions join existing supported tokens, Bitcoin (BTC), Ether (ETH), Zcash (ZEC), Bitcoin Cash (BCH), Litecoin (LTC), and the recently announced Basic Attention Token (BAT), which will also be added on 24 April.

Gemini’s custody service supports another 15 cryptocurrencies.

Cryptolydian reported earlier this month that, Gemini is adding the Basic Attention Token (BAT) to its cryptocurrencies lineup before the end of April, a statement says.

“We are pleased to announce support for Basic Attention Token (BAT) trading on the Gemini platform. Beginning Friday, April 24th at 9:30am ET you will be able to deposit BAT into your Gemini account with trading to follow soon thereafter.”

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.