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Things are about to get even sweeter for your Bitpanda portfolio, as we are serving you some delicious new assets: effective immediately, you can buy MANA, KLAY, CAKE, SUSHI and KSM on Bitpanda! Read on to get a taste of our newest additions and their features!
What is Decentraland (MANA)?
A fully decentralised virtual world running on blockchain and governed by its users – that is Decentraland (MANA), a VR (virtual reality) platform. In Decentraland the world’s your oyster: you can create your own DApps, build your own amazing scenes, buy names, avatars and equipment and much more. Get your own parcels of virtual land by burning MANA and create wearables for avatars that can be sold, bought and traded as non-fungible tokens (NFTs). To learn more about Decentraland, click here.
Decentraland as a project was launched back in 2017 and besides its high market cap, it is actually the NFT boom that has given this project additional traction and increasing adoption during its extensive bull run, as each parcel of land on Decentraland is unique and constitutes a non-fungible LAND token on the Ethereum blockchain. So make sure you buy MANA on Bitpanda.
What is Klaytn (KLAY)?
Wouldn’t it be nice if you could build your blockchain without any previous knowledge? We wouldn’t go as far as to say that you can – yet – but Klaytn (KLAY) is certainly a project worth checking out if you have ambitions in that regard. Developed by Ground X, Klaytn is a global public blockchain platform that is not only an affiliate of South Korean social media behemoth, Kakao, but also an essential partner in driving Korea’s domestic fintech landscape. Read more about Klaytn here.
The government of South Korea recently announced that it is ramping up efforts to launch its own central bank digital currency (CBDC) and Klaytn will have a prominent role in staging simulations and for a digital won, the official currency of South Korea. So this is certainly a token to keep your eyes on – you can now buy KLAY on Bitpanda, while looking for what is ahead.
What is PancakeSwap (CAKE)?
If you count yourself among those experienced in using crypto, a surefire recipe to really dig your teeth into DeFi (decentralised finance) is via PancakeSwap, an automated market maker (AMM) that is based on the Binance Smart Chain (BSC). Users on the PancakeSwap platform can swap hundreds of cryptocurrencies such as our recently listed BNB, 1INCH or GRT (read more here and here in case you missed our recent launches of those tokens at Bitpanda) without the need for intermediaries, as trading is not peer-to-peer but against a liquidity pool.
What is a liquidity pool? Basically, it is a market created by the participants in such a pool: as liquidity providers, they supply two tokens of equal value to a pool to create a market and receive rewards proportional to their share in liquidity from users trading in that pool. Part of these rewards is in CAKE, the token of PancakeSwap. Read more about PancakeSwap on their official website. PancakeSwap is supported by a huge community and regularly stages IFOs (Initial Farm Offerings) and other great events -you can now get your slice by buying CAKE on Bitpanda.
What is SushiSwap (SUSHI)?
You’re not one for sweets? SushiSwap is a decentralised exchange (DEX) that is running on the Ethereum blockchain. The not-so-secret ingredient behind this one is that SushiSwap is a fork of Uniswap with its UNI token, created by Chef Nomi. SushiSwap’s main goal is to provide the optimal environment for traders and liquidity providers who want to swap cryptocurrencies and tokens without intermediaries quickly and easily. You can learn all about SushiSwap on their website.
Differences between Uniswap and SushiSwap? It’s true that SushiSwap also throws in a little salt with extra SUSHI for liquidity providers who hold SUSHI, but Uniswap pays providers higher fees. So if you just bought UNI, you can also buy SUSHI on Bitpanda to have the best of both worlds.
What is Kusama (KSM)?
Great new projects usually hail from great test kitchens and this is where our fifth addition in this batch, Kusama, comes in. Designed as the test environment for the Polkadot project, Kusama provides an experimental “canary” network for early-stage projects and startups trying out their concepts. Why the bird? Canary technologies are named after their real-life counterparts, the canary birds that used to alert and to safeguard miners in actual coal mines up until the late 20th century by warning them of toxic fumes.
Utilising highly scalable infrastructure based on parachain technology, Kusama supports blockchain projects to get ready for launch. KSM is the native coin of Kusama, which is mainly used for staking in the ecosystem’s Nominated Proof of Stake (NPoS) consensus mechanism. Kusama and Polkadot also just launched their first DEX, so it’s a great time to diversify your crypto portfolio on Bitpanda by buying KSM.