eToro adds four new cryptoassets to its investment platform. These are Aave, Compound, Yearn.Finance and Decentraland, bringing the number of cryptoassets available on eToro to 23. The addition of these new four coins on eToro follows that of Dogecoin in early May and those of Chainlink and Uniswap last April .
Aave (AAVE) coin, the largest of the four with a capitalization of $ 5.3 billion, supports the Aave protocol which is best known for “flash loans”. These are loans taken out and repaid in quick succession without the need for a guarantee.
AAVE, the governance token of the Aave protocol, allows holders to determine the future of the project by contributing and voting on proposals.
Compound (COMP), on the other hand, is an “autonomous and algorithmic interest rate protocol”. COMP, Compound’s governance token, allows holders to propose and express their vote on proposals for improving the protocol. Its current market capitalization is $ 4 billion.
The other two additions, Yearn.Finance (YFI) and Decentraland (MANA) have a capitalization of $ 2.1bn and $ 1.3bn respectively.
Yearn is the global decentralized finance robo-advisor. It allows users to automatically allocate funds to the highest-paying opportunities in the explosive decentralized finance (DeFi) market, including collective lending, yield generation and insurance. YFI is the governance token of Yearn.Finance, and is used to give preference on proposals and receive inflows based on the commissions generated by the protocol.
Finally, Decentraland is the Ethereum-powered protocol that combines virtual reality and blockchain to create a three-dimensional world inspired by Minecraft. In this virtual reality created on blockchain, players can explore how they do in video games, socialize with friends, enter virtual casinos and exchange collectibles in the form of NFTs (non-fungible tokens). MANA is Decentraland’s money, used to buy digital properties, as well as guaranteeing owners to be able to vote on governance proposals.