HitBTC, one of the advanced crypto exchange announced that it is integrating with EOSDT, the world’s first EOS-based decentralized stablecoin and NUT, the native utility token for the Equilibrium cryptocurrency framework. The users of HitBTC now can trade on these new coins. Also, HitBTC is the first exchange to host both EOSDT and NUT currencies.
HitBTC is one of the most advanced and longest cryptocurrency exchanges in the world. Moreover, it has clients in more than 90 countries, where it offers around 530 currencies in more than 850 trading pairs. According to the site coinmarketcap, HitBITC exchange ranks 4th and has 24-hr trading volume $929,400,727.
The following trading pairs available on HitBTC right now:
BTC/EOSDT, ETH/EOSDT, EOS/EOSDT, DAI/EOSDT, USDT/EOSDT, NUT/EOS, NUT/BTC and NUT/USDT.
Let’s dive in deeper to know what are these currencies..
What Is EOSDT?
Equilibrium, the feature-rich framework of smart contracts produces digital asset-backed stable coins fixed to the U.S. dollar and backed by a user’s own crypto holdings. This is called ‘EOSDT’, a price-stable cryptocurrency which can be put into circulation by users through a collateralization model that will use their liquid digital assets.
The Equilibrium framework is controlled by a set of smart contracts built on the top of the EOSIO technology stack. The main thing it does is to maintain EOSDT’s equality with the US dollar. 1 EOSDT = $1 USD.
EOSDT applications consist of providing hedging market risks, providing fiat-like quotes for currency pairs and making online payments with merchants who accept cryptocurrency.
NUT is the Equilibrium framework’s native utility currency, and it helps in every step of governance. The currency holders have the power to vote and change the parameters that drive Equilibrium.
NUT holders will receive a stake portion of Equilibrium’s collateral if they vote for block producers on the EOS blockchain. Also, it can be useful in paying fees.
To close their positions users need to repay their staked collateral, as well as admin fee that arises in NUT. Furthermore, this utility token grants access to discounted collateral.
The HitBTC is surely offering new coins with advanced technologies. It looks like HitBTC is preparing for the upcoming big market.