eToro adds Fetch.ai, Synthetix, and Ren Protocol

Three new cryptocurrencies have arrived on the eToro investment platform: Fetch.ai (FET), Synthetix (SNX), and REN Protocol (REN), the exchange platform shared with its user community. At the time of writing, FET and REN were trading for $0.459 resp. $5 and had gained around 2% resp. 1% in the last 24 hours. REN is trading for $0.422 and has lost 3% today.  

Fetch uses AI and ML to automate complex transactions

The Fetch network uses artificial intelligence and machine learning to help automate complex transactions on DeFi applications, helping investors balance liquidity and hedge exposure across positions in automated market makers and lending protocols. Token holders not only vote and control the system, but they can power Fetch programs with FET.

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The network has a native token (FET) and an ERC-20 token. FET acts as the native crypto asset and primary currency of exchange on the platform, and is required for all network exchanges, including access to services, data, infrastructure, and data processing.

It is also used as a refundable method of registering with the network, for staking purposes, and as a way to deliver value back to users who perform work within the network.

Synthetix helps you generate your own derivatives

This network helps investors generate their own tokenized synthetic derivatives. The SNX token and the affiliated smart contracts enable investors to produce tokens which mimic real-world assets and currencies. SNX investors are able to utilize pricing oracles to detect the price of crypto and generate synthetic assets on the Synthetix mainnet.

Synthetix is a derivative liquidity protocol that allows anyone to gain on-chain exposure to a range of both crypto and non-crypto assets. Based on the Ethereum (ETH/USD) blockchain, the protocol offers users access to highly liquid synthetic assets known as synths, which essentially provide returns on the underlying asset, although it is not held directly by the investor.

REN connects traders and dApps across blockchains

Running on a network of dark nodes, REN transactions are done privately between exchanges to limit the impact of traders’ frontrunning markets. REN tokens are used to power the network and are required to run a dark node.

The system integrates into existing infrastructure and claims to be 100x faster than atomic swaps, allowing users to access tokens from any blockchain using existing smart contracts without the need to wrap or unwrap tokens. REN is the protocol’s native cryptocurrency.