Pollen, a DeFi protocol based on Avalanche, is getting its governance token PLN listed on AscendEX.
According to a press release shared with CryptoSlate, PLN is the first Avalanche chain token to list on the Singapore-based exchange.
Decentralizing portfolio management with Pollen
The Pollen ecosystem is starting the year on a high note after spending most of 2021 in heavy development. The ambitious DeFi protocol is getting PLN, its governance token, listed on AscendEX, a global cryptocurrency exchange based in Singapore.
In a press release shared with CryptoSlate, the team behind Pollen said that this is the first time PLN was listed on a centralized exchange, as the token has so far only been available on the Avalanche-based DEX TraderJoe. Today also marks the first time an Avalanche chain token was listed on AscendEX.
“We are proud to be the first Avalanche token to list on AscendEX,” said Philip Verrien, the co-founder and project lead of Pollen. “A whole new audience of potential Pollen users who wish to participate in DeFi and the emergent Avalanche ecosystem, but are more comfortable with the experience and tools of a CEX, can now take their first step into the Pollen DeFi asset management ecosystem.”
Pollen is a DeFi protocol designed to simplify portfolio management. It provides users with the ability to trade and hold dynamically managed portfolios without the need to manage allocations and assets themselves. While the protocol deployed on Avalanche in response to community demand, its development team said that the speed, reliability, and cost-effectiveness also made Avalanche a clear choice for Pollen.
The project’s mainnet is scheduled to be released in Q1 2022. Until then, users will be able to stake their PLN on AscendEX, where they will be eligible to receive an attractive APR on their funds.
The team has secured investments and support from leading VCs in the crypto industry, which includes Protocol Ventures, Fomocraft Ventures, Red Building Capital, AventuresDAO, Rarestone Capital, and Alphabit.
Trading of $PLN/USDT on AscendEX will open on Tuesday, January 11th at 09:00 EST / 14:00 UTC. Wallets will be open for deposits approximately 12 hours before trading starts.
Disclaimer: CryptoSlate holds a financial position in Pollen and was given the opportunity to participate in the presale of this project in exchange for news, analysis, and other types of coverage. CryptoSlate was NOT paid to publish this article.
Featuring a summary of the most important daily stories in the world of crypto, DeFi, NFTs and more.