Kraken Adds 3 DeFi Tokens – COMP, KAVA, KNC

Riding the surge of interest in yield farming, cryptocurrency exchange Kraken is listing three tokens from the world of decentralized finance (DeFi).

Major cryptocurrency exchange Kraken is adding three decentralized finance (DeFi) tokens to its platform, the latest sign of the growing mainstream interest in the sector.

Compound’s (COMP) governance token, Kava’s (KAVA) native token and Kyber Network’s (KNC) utility token will be listed by Kraken starting July 15, according to a company blog post Tuesday.

COMP, the token that set off DeFi’s recent bull run, was quickly added by Coinbase and other exchanges following its debut on June 15. The token is used to vote on changes to the Compound protocol, which allows users to lend and borrow crypto.

Kava is a DeFi platform backed by Binance, Huobi and OKEx. Its KAVA token is used for staking, governance and paying transaction fees on the platform, which is designed to connect different blockchains.

Kyber Network is a decentralized exchange (DEX) whose KNC token became a breakout hit in early 2020. The firm recently announced a new type of yield farming, where it will share DEX trading fees with KNC token holders.

In addition to the three DeFi tokens, Kraken will also list Storj (STORJ), a token that powers a blockchain-based data storage network, according to the post.