Digital Asset Platform Kraken Now Supports TOKE, MOVR, PHA Crypto Trading for US, Canada

Following Kraken’s listings of Altair (AIR), Basilisk (BSX), Bifrost (BNC), Karura (KAR), KILT (KILT), Kintsugi (KINT), Moonriver (MOVR), Phala (PHA) and Tokemak (TOKE) for most countries, Kraken is pleased to announce “the availability of these tokens for residents of the United States and Canada.”

Funding and trading are live (as of October 13, 2022).

You can “add these tokens to your Kraken account by navigating to Funding, selecting the asset, and hitting Deposit.” Deposits require 25 confirmations (~6 minutes) “for all, except for BSX and TOKE which require 20 confirmations (~5 minutes).”

All tokens are “tradeable on Kraken and the Kraken Pro interface with the following minimum deposits and currency pairs available.”

According to Kraken, here’s what you need to know about the assets:

Altair (AIR) – The Altair network “enables users to tokenize their assets — from art NFTs to real-world assets — and finance them. AIR is the utility token of the Altair network.”

Basilisk (BSX) – Basilisk is “a Kusama-based liquidity protocol parachain that enables participants to trade any two cryptocurrencies.” Basilisk is “a cross-chain protocol, allowing it to communicate with other networks like Ethereum, Bitcoin and Polkadot.”

Bifrost (BNC) – Bifrost “provides staking liquidity to anyone accessing its network.” This means token holders “can stake cryptocurrencies such as DOT or ETH on the Bifrost platform and receive a vToken (vDOT or vETH) of equal value in return.”

vTokens can then be “used to access decentralized finance applications while still allowing users to receive staking rewards on their original crypto assets.”

Karura (KAR) – Karura is “designed to operate as a decentralized finance (DeFi) hub on Kusama, with the intent to allow developers to create financial applications for its users.”

Karura is both “a layer 1 blockchain platform, as well as o a suite of DeFi applications built on the Karura blockchain.”

Kilt Protocol (KILT) – KILT provides “a base layer for verifiable credentials in the Web 3.0 world.” Using the benefits of blockchain to bring real-world accreditation to the digital world, Kilt Protool “creates a way for businesses to verify credentials and bring trust to a deeper level.”

Kintsugi (KINT) – Kintsugi is “a decentralized network that allows users to create kBTC – a 1:1 Bitcoin-backed asset – in a trustless and decentralized manner.” Kintsugi’s kBTC brings Bitcoin to Kusama “to kick-start liquidity for parachains.” The KINT token is “used to participate in Kintsugi’s governance.”

Moonriver (MOVR) – Moonriver is “a smart contract blockchain that supports Ethereum decentralized applications.” Moonriver is “intended to operate on Kusama as a parachain and provide a full EVM implementation, a Web3-compatible API and bridges that connect Moonriver to existing Ethereum networks.”

Moonriver also plans “to implement a built-in integration for all Kusama and ERC-20 tokens and bridges to other assets like Bitcoin.”

Phala (PHA) – Phala is “a trustless computation platform that enables cloud processing while preserving data confidentiality.” Leveraging the trusted execution environments of modern processors, Phala’s distributed computing network “provides a highly scalable and confidential computing environment by separating consensus and computational mechanisms.”

Tokemak (TOKE) – Tokemak is “a decentralized liquidity generation protocol for DeFi applications.” The platform allows users “to provide liquidity and control their allocation toward tokens and exchanges.”

TOKE is “the native token of the protocol which is used to earn rewards for participating in the platform’s liquidity pools, help direct deposited assets via staking and vote on decisions affecting the future of the project.”

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