MAX list new coins: USDC, LINK
To improve and diversify MAX's services, we are delighted to announce the listing of USDC and LINK on MAX. Funding for USDC & LINK will begin on March 18th and the following pairs will be available for trading starting from March 23nd:
USDC is a stablecoin of the ERC 20 standard with the value of which is pegged to the US dollar 1:1, and is issued by a regulated financial institution. USDC was developed by exchange powerhouse Coinbase and a subsidiary of Goldman Sachs, Circle. Circle is a licensed cash flow service provider in the United States, and cash flow service providers must comply with federal laws and regulations. The USDC Alliance has also obtained permission from the New York Department of Financial Services (DFS) to engage in cryptocurrency business activities.
Each USDC is guaranteed to be collateralized by the corresponding U.S. dollar. Each month’s U.S. dollar reserves are publicly certified by the top 5 accounting company: Grant Thornton LLP. USDC is currently the world’s second most active stablecoin. The average daily transaction volume is about US$1 billion.
The transparency and compliance of USDC reserves have allowed traders to reduce risks in the application of USDC, and on many levels, USDC has been considered to be a more stable stablecoin with more distinctive characteristics of hedging.
As a digital asset with low volatility, USDC, like USDT, is a widely accepted payment tool. And USDC is also very popular on the DeFi platform. It can be used for DeFi lending to earn annualized income. The annualized income return rate is high (Note 1), and so USDC is one of the most widely used digital assets.
DeFi annualized income reference:
The listed coin, LINK, on MAX is issued by Chainlink. The well-known company, Line, also issued a token called LINK. The two Tokens have the same name but are not related in any way. Please be aware of this fact.
Chainlink aims to provide services that connect blockchain smart contracts with real-world data. The smart contracts running on blockchains range from simple to complex, and come in all sorts of forms; for example, "Xiao Ming decides that on 2020/12/31 at 24:00, If the price of Bitcoin is more than US$20,000, he wants to sell his Bitcoin." Who will tell Xiao Ming what the bitcoin price will be at 24:00 on 2020/12/31 though? And if there is more than one source of data and there is a gap between the data of the sources, for example, a certain company quotes a price of 19,999 NTD, and another quotes 20,000 NTD. So, which data should be used to execute Xiao Ming’s commands?
Chainlink will reward honest and reliable sources (of information) with LINK, and smart contracts on the blockchain must use LINK as a payment token if they want to access these data. In theory, the more people use smart contracts, the more people will use LINK Token, and the better the chance that the value of LINK will increase.
Chainlink official website: https://chain.link/
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