BAR and MIR Tokens Listed on Binance – DeFi Market Wrap

DeFi space is growing daily, with new interesting tokens attracting investors’ notice. Binance announced that it completed the FC Barcelona Fan Token Discount Sale, and it would open trading for BAR now. The world’s biggest crypto trading platform already listed FC Barcelona Fan Token (BAR) in the Innovation Zone. It opened trading for BAR/BTC, as well as BAR/BUSD and BAR/USDT trading pairs on April 21, 2021.

The FC Barcelona Fan Token is a utility token. It allows FC Barcelona fans to have a tokenized share of influence on club decisions due to using the Socios application and other services. BAR serves as a membership key, allowing users to compete for club recognition, exclusive rewards, and more.

BAR became built on Chiliz Chain. The latter is a Proof-of-Authority sidechain built on Ethereum. FC Barcelona publishes various fan decision polls now and again, and BAR token holders can vote via smart contract on them. According to the company, the team will act according to poll results.

Furthermore, investors holding BAR can interact with the Socios platform. The latter offers many activities, including competing in contests and quizzes, voting on polls, connecting with other users, etc. Users can earn various rewards, such as matchday tickets, cashback offers from official online shops, exclusive experiences, club-specific NFTs, in-app CHZ bonuses, and digital badges.

The company also noted that users would be able to enjoy integrated BAR access in partnered applications/websites, spend BAR tokens to redeem VIP goods and services, and stake BAR for NFT rewards in the future.

A total token supply consists of 40,000,000 BAR, but currently, only 7.4% is circulating. Discount Sale Price is 0.04512816 BNB per BAR token, and 74,735 BAR have been available for sale.

 

What are BAR token’s advantages?

Investors should try to collect as many fan tokens as possible. Socios.com has a finite supply of FC Barcelona tokens. These blockchain-secured digital assets allow users to participate in club surveys. They can hunt, buy or earn. Furthermore, the more they interact, the more reward points they will earn.

Investors owning Fan Tokens can join a pool of other supporters whose collective decision-making power is absolute. Partner teams will seek every member’s input on club matters by running both binding and non-binding polls. The former’s results are an instruction that clubs agree to follow.

Additionally, Fan Tokens will enable users to access prizes, rankings, games, official products, participate in surveys, and much more.

 

MIR token staking on Binance is already available

MIR is Mirror Protocol’s governance token. Terraform Labs (TFL) built this synthetic asset protocol on the Terra blockchain. Mirror Protocol is wholly decentralized, with the code changes and on-chain treasury governed by MIR token holders.

Mirrored assets are essentially blockchain tokens. However, they behave like mirror versions of real-world assets as they reflect the exchange prices on-chain. MIR gives investors the price exposure to real assets while simultaneously allowing fractional ownership, along with censorship resistance and open access as any other cryptocurrency. However, unlike traditional tokens, which typically serve to represent a real, underlying asset, Mirrored assets are purely synthetic. They only capture the corresponding asset’s price movement.

Still, these tokens offer their holders many advantages. For instance, access to foreign equities and forex markets is highly limited in most markets outside of Europe & North America. But this crypto allows traders global accessibility without entry barriers.

Nearly instantaneous order execution is also a nice addition. Orders can often take up to a day to fully execute due to the lack of liquidity. However, Mirror relies on liquidity provided by various individual asset pools. As a result, orders can be executed very fast; it mostly takes only several seconds.

Furthermore, it makes executing fractional orders much simple. In traditional finance, if a trader wants to execute a fractional-order, they have to gather multiple fractional orders and execute a unitary transaction. That means additional waiting time. However, order volume is represented as a number on the blockchain, and the intermediary bundling process isn’t necessary.

 

Binance says Mirror Protocol belongs in the Innovation Zone. Why’s that?

 

Binance listed Mirror Protocol in its Innovation Zone, opening trading for MIR/BTC, MIR/USDT, and MIR/BUSD trading pairs. The Innovation Zone is a trading zone enabling users to trade new and innovative tokens. However, those assets are likely to have higher volatility and thus, pose a higher risk than other tokens.

MIR is a relatively new token, and it poses a higher-than-normal risk. It means that the token will likely be subject to high price volatility.

Binance Staking has launched a high-yield activity officially on Thursday. Investors can stake their MIR starting from April 22, 2021, 12:00 PM (UTC) and earn up to 34.79% APY.

 

Ampleforth’s token FORTH on Coinbase Pro’s platform

Smart commodity money protocol, Ampleforth, launched its new governance token FORTH, which rapidly garnered investors’ attention. Today Coinbase Pro announced that it plans to list the new FORTH tokens.

Ampleforth also has a native token AMPL. But the latter isn’t listed on Coinbase, likely due to conflicts of interest with the platform’s own stablecoin, USDC. Coinbase underlined that it doesn’t offer AMPL for trading, and FORTH is a separate token. Furthermore, the exchange stated that once there is a sufficient supply of FORTH on the platform, investors will be able to trade on FORTH/USD, FORTH/BTC, FORTH/EUR, and FORTH/GBP pairs.

Ampleforth also spoke about the launch of the FORTH token. The company noted that it would distribute the tokens to the protocol’s users through a points system. Besides, the new token will provide the mechanism to enable the community to vote on parameter changes to the core AMPL protocol. It will help to decentralize Ampleforth further.

According to the company, AMPL represents an independent currency functioning as a unit of account, while FORTH is the governing mechanism overseeing its evolution.

The deflationary token offers incentives to all network participants. A total of 15 million FORTH were minted at the genesis event. The distribution plan is the following: 67% of FORTH will go to the community, and the remaining 33% will go to early backers, advisors, the core development team, supporters, and lastly, the Ampleforth Foundation.

Ampleforth declared that such distribution would enable those investors who supported the network long-term to accrue the most points, or in this case, tokens. More than 75,000 users would be eligible to receive FORTH. They will simultaneously become founding members of Ampleforth’s governing body.

 

About Ampleforth

Ampleforth is a smart commodity money protocol launched in 2018. It provides an elastic supply stablecoin aiming to be loosely pegged to the USD. The protocol branched off from Ethereum in December 2020 to offer multi-chain compatibility with integration into Polkadot, NEAR, and Tron.

Currently, AMPL is trading at $1.32, while FORTH is hovering around $54. The FORTH is the company’s first step in decentralizing the decision-making process.