Author: Anna Perozzi

What is AAVE?

Aave is a decentralised financial protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing their cryptocurrencies, while borrowers have new liquidity that they can use as long as they put their cryptocurrencies up as collateral.

AAVE has several strengths that make it unique in the DeFi landscape. The project allows people to borrow and lend around 20 different cryptocurrencies, giving users much more choice. It created the first uncollateralised loans, known as “flash loans”, which allow professionals and developers to take advantage of certain market situations.

Also, unlike other lending projects, with Aave you can alternate between stable and variable interest rates. Variable rates can come in handy if the cryptocurrency borrower thinks prices will fall in the near future.

 

Available Pairs

You can find AAVE on Young Platform and Young Platform Pro with these pairs:

• AAVE-BTC
• AAVE-EUR

 

 

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Young Platform will distribute the Spark token to all Ripple holders in proportion to their XRP balance

Young will be supporting Flare Network’s Spark (FLR) token airdrop, so all Ripple (XRP) holders on Young Platform and Young Platform Pro exchanges will be able to claim the Spark token.

Spark Token Distribution

Young will distribute the Spark token (FLR) to all Ripple (XRP) holders on the Young Platform and Young Platform Pro Exchanges based on the snapshot of their Ripple XRP balances on 12 December 2020, 00:00 UTC (approximate time).

Deposit or buy Ripple (XRP) with your Young account before this date, to be eligible for the airdrop. Users will receive Spark tokens in proportion to their XRP balance.

The amount of distributed Spark tokens for each user holding XRP will be calculated based on the following formula:

User A = Amount of XRP held by User A at the time of snapshot / Total XRP held by Young at the time of snapshot * Total SPARK received by Young for the airdrop

Please note:

• Ripple (XRP) deposits, withdrawals and trading will be suspended starting from 11/12/2020 09:00 PM (CET).
• After this time, Ripple (XRP) that has not been deposited will not be included in the distribution calculation.
• The time of the snapshot and amount of distributed tokens may be adjusted according to changes on the Flare network.
• The distribution for Spark tokens is currently set for the first half of 2021, and this is subject to change at Flare’s discretion.
• Supporting this airdrop does not guarantee the listing of Spark on Young Platform and Young Platform Pro. The default position we have is no listing.

Thanks for your support!

The Young Team

Discover how Young Platform will act to reduce trading risks during the hard fork on 15 November 2020

Around 12:00 PM UTC on 15 November 2020 the Bitcoin Cash blockchain will be subjected to a hard fork.

This fork was a planned update, although it is contested by the implementation of the BCHA (Bitcoin Cash ABC) node which proposes a developer fee of 8% on the reward per block of miners. BCHN (Bitcoin Cash Node) will proceed with the proposed routine upgrade and will not support the block reward fee.

We do not believe this fork to be similar to the BCH 2017 fork or the BSV 2018 fork. This fork, on the contrary, does not seem to have the support needed to survive. At the time of writing this release, BCHN (Bitcoin Cash Node) – which will continue the current BCH consensus – has over 75% support from the miners.
By contrast, BCHA (Bitcoin Cash ABC), the instigator of the fork, has less than 1% support from the miners and about 24% is undecided so far.

We believe that most undecided miners will only follow the existing chain (BCHN) and that there is really no chance for BCHA to have a productive life or value. We hope that the BCHA team decides to call off the potential fork before it happens, but even if they do not, we see a very low chance of a surviving chain.

Young’s approach to fork management

To reduce trading risks caused by price volatility and to maintain the security of users’ funds during the hard fork, Young will manage the hard fork as follows:

• All transactions for BCH on Young Platform and Young Platform Pro will be suspended from 9pm on 14 November 2020. Withdrawal, deposit, purchase and sale operations involving Bitcoin Cash are therefore on hold.
• Should you wish to make a deposit and withdrawal operation at this time, we ask you to allow sufficient time for full processing of the transactions before the above time.
•  Transactions will be resumed on Young Platform and Young Platform Pro from 12 am (noon) on Monday 16 November 2020. Any updates will be communicated via e-mail and to the Discord server.

Discover COMP on Young Platform Pro, the altcoin in loan pools

Young is pleased to announce the listing of Compound (COMP), one of the emerging DeFi protocols.

What’s Compound?

Compound is a protocol based on the Ethereum blockchain that allows you to grant and subscribe loans without the need for a financial intermediary.

How do loans on Compound work?

Users can deposit their cryptocurrency in loan pools to allow access to borrowers. Once they have made the deposit they receive a reward in cToken. For example, if they deposit ETH they will receive cETH, if they deposit DAI they receive cDAI and so on.

What is COMP?

To encourage this lending activity, Compound uses another cryptocurrency native to the protocol known as COMP.

Each time users interact with the Compound market – i.e. take out, give or repay a loan – they receive a reward in COMP.

Hello to STORJ and BAT the new altcoin on Young Platform Pro

Two innovative cryptocurrencies are now available on Young Platform Pro: Storj (STORJ), the token of a decentralised storage cloud, and Basic Attention Token (BAT), which has the purpose to protect copyrights and reward content creators.

What is Storj?

Storj is a decentralised cloud storage platform that allows any computer to rent its excess storage space to those who need it. 

STORJ is the token coordinating the network stakeholders and is the main means of payment within the platform.

Users who need storage space, in fact, can buy it in STORJ and, in turn, suppliers, receive STORJ as a reward for the excess space they have.

To do this, Storj launched Tardigrade, a decentralised cloud storage solution where users can securely store their files.

What is BAT?

Basic Attention Token is a utility token built on the Ethereum blockchain, designed to make digital advertising fairer and more transparent. 

The token is used to correctly assess the user’s attention within the platform, to pay publishers for their advertising space and even to reward users for watching or clicking on their ads.

To fulfil its mission, the BAT ecosystem relies on Brave, an open-source privacy-oriented browser designed to block trackers and malware. Brave leverages blockchain technology to anonymously and securely track user interests and reward publishers accordingly.

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New altcoin on Young Platform: Dash and EOS! You will love them for fast transitions and dApps

Dash (DASH)

Young is pleased to announce support for Dash (DASH), one of the world’s most widely used alternative cryptocurrencies. 

What is Dash (DASH)?

Dash is an alternative to Bitcoin that offers the possibility to make transactions in a private, fast and cheap way.

Why Dash (DASH)?

Dash can process transactions faster than Bitcoin, making it a popular altcoin. 

Furthermore, it offers the possibility to send transactions anonymously by making the connection between sender and receiver untraceable.  

Will Dash (DASH) be available on both Young Platform and Young Platform Pro?

Yes, Dash will be listed on both exchanges.

Which Dash pairs will be available?

Young Platform:

DASH – EUR

DASH – BTC

Young Platform Pro:

DASH – EUR

DASH – BTC

EOS (EOS)

Today Young also lists EOS (EOS), the native cryptocurrency of EOS.IO, one of the most scalable blockchains on the market.

What is EOS (EOS)?

EOS is the cryptocurrency that powers EOS.IO, a blockchain designed to help developers build dApps quickly and without fees.

Why EOS (EOS)?

EOS, besides being of interest to those who want to build dApps, it also appeals to developers who have already launched dApps on other blockchains that, due to the user experience offered and the lack of transaction fees, consider it more convenient to switch to the EOS blockchain.

Will EOS (EOS) be available on both Young Platform and Young Platform Pro?

Yes, absolutely! EOS will be listed on both our exchanges.

Which EOS pairs will be available?

Young Platform:

EOS – EUR

EOS – BTC

Young Platform Pro:

EOS – EUR

EOS – BTC

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Young Platform is pleased to announce support for Tether (USDT), the most famous stablecoin in the world and the third cryptocurrency in terms of market capitalization 

What is Tether (USDT)?

Tether is built on the Bitcoin blockchain and backed by fiat so that 1 USDT represents 1 US dollar held in reserve by the company behind the Tether project.

Why Tether (USDT)?

Tether (USDT) remains the most widely used stablecoin due to greater liquidity and higher market capitalization.

Right now Tether (USDT) is the most liquid asset on the crypto market, with an average daily volume of $50 billion.

What is the value of 1 Tether (USDT)?

1 Tether = 1 USD

This means that if I convert 1,000 Euros into USDT, I will end up with the equivalent in dollars ($).

For example, if 1€ = 1.11$

1000 Euro = 1187.83 Tether (USDT)

Will Tether (USDT) be available on both Young Platform and Young Platform Pro?

Yes, absolutely! Tether will be listed on both our exchanges.

Which Tether pairs will be available on Young Platform?

Young Platform:

USDT/EUR (Tether – Euro)

USDT/BTC (Tether – Bitcoin)

USDT/ETH (Tether – Ethereum)

Young Platform Pro:

USDT/EUR (Tether – Euro)

USDT/BTC (Tether – Bitcoin)

USDT/ETH (Tether – Ethereum)

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