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We are delighted to announce the listing and support of 1Inch (1INCH) on Tap!

1INCH is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold 1INCH for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting 1INCH will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

1inch is a cryptocurrency trading tool for traders, allowing them to quickly find and access competitive prices on decentralised exchanges (DEXs) using its innovative 1INCH token, which provides both utility and governance functionalities to token holders.

By utilising 1inch, traders have the convenience of trading from a single platform while being exposed to the lowest trading fees and best prices across several DEXs.

The 1INCH token is an ERC-20 token that serves as a utility and governance token for the platform.  On top of functions like spending, sending, holding, and staking, the 1inch token also provides voting rights to token holders on any proposed updates to the protocol.

Get to know more about 1Inch (1INCH) in our dedicated article here.

We are delighted to announce the listing and support of Lido (LDO) on Tap!

LDO is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold LDO for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting LDO will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Lido's liquid staking service allows users to tap into the benefits of staking rewards without compromising their tokens' liquidity. Lido aims to empower users to put their staked assets to use, supporting a number of PoS cryptocurrencies. The platform offers a liquid staking solution that provides users with a system that allows them to earn rewards on staked coins while also receiving a tokenized version of the staked coins which can generate returns in other DeFi protocols.

The Lido DAO token (LDO) is an ERC-20 token, the native utility token to the Lido protocol used to reward users. The token has a total supply of 1 billion tokens and serves three primary functions.

The LDO token grants holders with governance rights in the operations of the Lido DAO, as well as the removal or addition of Lido node operators and helping with the management of fee parameters and distribution.

Get to know more about Lido (LDO) in our dedicated article here.

We are delighted to announce the listing and support of Convex (CVX) on Tap!

CVX is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold CVX for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting CVX will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Convex Finance has been dubbed a "DeFi 2.0 protocol," and is part of the ever-growing subset of second-generation decentralized finance (DeFi) protocols that offer yield farming services to users. Deeply ingrained in the DeFi space, Convex empowers Curve Finance users to further benefit from earning and optimizing yields. 

The Convex Finance protocol provides users access to liquidity and earning trading fees through Curve's established stablecoin pools. In order to do so, users need to deposit Curve tokens into Curve's liquidity pools and then stake them on Convex. Acting as an intermediary, Convex then auto-harvests these tokens and reimburses liquidity providers with the gained rewards. 

Convex Finance CVX tokens are ERC-20-based tokens with both utility and governance functionality. The token is used to receive a share of Convex platform fees and reward CRV stakers.

Get to know more about Convex (CVX) in our dedicated article here.

We are delighted to announce the listing and support of GensoKishi Metaverse (MV) on Tap!

MV is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold MV for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting MV will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Since the Metaverse x GameFi project launched in early 2022, GensoKishi Metaverse has taken the cryptosphere by storm, already listed on several top exchanges. The MV token pairs with another token to power GensoKishi Online, the blockchain-based play-to-earn (P2E) game that allows users to create, buy and sell unique characters, weapons and maps. The blockchain-based innovation has leveraged the already existing MMORPG world of Elemental Knights.

While ROND acts as the GensoKishi Metaverse in-game currency, the MV token acts as the governance token primarily used outside of the game. The governance token provides users with voting rights on future developments to the platform, while also providing discounts on in-game items such as land, cosplay equipment, monsters, and non-player characters (NCPs).

Get to know more about GensoKishi Metaverse (MV) in our dedicated article here.

We are delighted to announce the listing and support of Aave (AAVE) on Tap!

AAVE is now available for trading on the Tap mobile app. You can now Buy, Sell, Trade or hold AAVE for any of the other asset supported on the platform without any pair boundaries. Tap is pair agnostic, meaning you can trade any asset for any other asset without having to worries if a "trading pair" is available.

We believe supporting AAVE will provide value to our users. We are looking forward to continue supporting new crypto projects with the aim of providing access to financial power and freedom for all.

Aave is one of the leading decentralized finance (DeFi) protocols on the market, allowing users to easily borrow and lend over 20 different crypto assets. Leveraging the age-old financial practice of lending and borrowing, the platform empowers users to manage their assets in a decentralized manner.

AAVE is an ERC-20 token that acts as a backstop for the Aave protocol, protecting the system from having a shortage of capital. The Aave token allows users to vote on the platform’s direction and future Aave protocol developments. Aave token holders are granted voting rights based on their holdings. The Aave system uses fees paid on the platform to buy back AAVE tokens and remove them from circulation. Approximately 80% of the fees paid are used for this burn purpose, while 20% are used to incentivize lenders.

Get to know more about Aave (AAVE) in our dedicated article here.

Since stablecoins emerged in the crypto sphere, many have questioned their legitimacy. While cryptocurrencies are perhaps more frequently used as a tool for value storage rather than a means of transaction, coins (or any financial products) that cannot appreciate in value certainly raise several questions. So why have stablecoins become so popular among businesses and individuals alike? Below we're taking a look at their use cases and reporting on whether they're the safe haven of crypto. 

What are stablecoins?

Before we continue, let's clarify what stablecoins are. These types of cryptocurrencies are "stable assets" that have their value pegged to a fiat currency or commodity. This might include the US dollar, Euros, the price of gold or even other cryptocurrencies. So while Bitcoin (BTC) and Ethereum (ETH) are subject to bouts of volatility, stablecoins remain consistent with the price of the money they are pegged to.

Stablecoins are not to be confused with CBDCs (central bank digital currencies) which are operated by a government-controlled organisation, usually a country's national bank. Stablecoins are controlled by a company and utilise blockchain technology to facilitate transactions, store the relevant data and maintain security.

Stablecoins' economic policy ensures that they maintain their value through the use of smart contracts, algorithms and reserves. For each Tether in circulation, for example, one US dollar needs to be held in a reserve account. These types of cryptocurrency tokens provide a reliable and non-volatile means of making payments with the companies issuing them regulating the circulating supply.

What value do Stablecoins provide?

While many might not initially see that value in a fiat-pegged cryptocurrency, stablecoins are actually hugely useful in a largely volatile market. Let the current top 5 biggest cryptocurrencies based on market cap in the industry be an indication, with two of the five being stablecoins. 

As stablecoins utilise blockchain technology, the coins naturally inherit all the characteristics of seamless and fast digital transactions (as well as transparency when it comes to transactions). Much like traditional digital assets, stablecoins can be transferred across borders instantly, a much faster and cheaper alternative to using fiat currencies and without the chance of price swings. Users, whether consumers or businesses are able to buy, store and sell stablecoins as they would any other cryptocurrency on the market.

For example, should you wish to pay a business in another country for services rendered or any other expense, it would prove to be much faster and cheaper to use a stablecoin than to send your local currency via traditional banking services. Stablecoins offer a much more streamlined means of completing the job.

Stablecoins also provide an entry into exchanges that don't work with fiat currencies, providing a reliable means of trading on those platforms. Stablecoins have also come to be known as "risk-off" assets, giving newer traders a chance to "test" the markets without the volatility. 

This innovation in the blockchain space has opened many new markets to the use of cryptocurrencies, certainly more mainstream markets across a wide range of countries. As information regarding how they work spreads, more businesses have opened their mind to using them in everyday working life. Stablecoins have also become a popular option with users trading on DeFi (decentralised finance) platforms, providing a secure and efficient means of using the products.

Are stablecoins the safe haven of crypto?

In essence, yes. Since the advent of stablecoins (marked by the launch of Tether) in 2014, there has been a number of new stablecoins to emerge, resulting in more confidence in crypto markets. This has equated to more movement and trade volume, and a lower risk management sector.

So while one isn't going to make huge returns (if any) on stablecoins, they bring value to the market due to their stability and transaction ability. 

As stablecoins are used by traders to hedge against falling markets, they provide a safe haven for their digital funds until the markets return to normal levels. Businesses around the world use stablecoins as they provide a faster and cheaper means of settling bills, allowing them to harness the power of blockchain technology without the worry of prices rising or falling in a short space of time. 

Tap into stability

Tap can support your market entry endeavors by providing a platform to include a variety of assets in your portfolio. Whether you're considering accumulating stablecoins during market shifts or looking to engage in various transactions, Tap offers a streamlined experience. You can easily acquire, sell, trade, store, and manage widely utilized stablecoins like Tether (USDT) and USD Coin (USDC), all from a single secure platform.

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