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Young Platform: new €16 million investment round from Azimut

The fintech company Young Platform closes a €16m investment round led by Azimut to simplify and expand the access to the world of cryptocurrencies

Milan, 13 June 2022 – Azimut, one of the leading independent asset managers in Europe with over EUR 83 billion total assets, participated as lead investor in the EUR 16 million capital increase of Young Platform, an Italian fintech platform that simplifies the access to the world of cryptocurrencies.

Among Italy’s leading fintech scale-ups, Young Platform aims to simplify the access to the world of cryptocurrencies through a digital product platform and intensive educational and popularization activities on blockchain technology and its applications. Among the top three cryptocurrency trading platforms in Italy with 36% market share, the company had over 1 million users at the end of the first quarter of 2022, equal to 11 times the previous year’s volumes. It aims to become a smart digital bank with a focus on new digital services. 

Azimut’s EUR 11 million investment was made through a consortium formed by the Digital Asset Opportunity Fund VCC, launched in collaboration with SBI and SYGNUM, the Azimut Digitech Fund created through a partnership with GELLIFY, and the Luxembourg-based vehicle Azimut Direct Investment Young Platform SCSp. This allowed the Group’s High Net Worth (HNW) customers, served by the network of financial advisors and wealth managers in Italy, to gain exposure to a constantly growing sector.

A pool of investors including Banca Sella, United Ventures and Abalone Venture also participated in the Azimut-led round to support the international expansion of Young Platform.

The cryptocurrency market almost tripled its capitalization in 2021, from $772 billion on the 1st of January to $2.19 trillion on the 31st of December (CoinMarketCap data) and is entering a new phase of development with growing interest from retail investors, as well as institutional investors. In particular, young Italians are among the most enthusiastic in Europe with 14% between the ages of 18 and 34 stating that they have bought or sold cryptocurrencies. Globally, more than a third of millennials believe cryptocurrencies will soon replace cash and cards (Deutsche Bank data).

The new capital investment will support Young Platform’s development plans, starting with the expansion of the team, from 41 to 110 members by the end of 2022, and geographic expansion into new markets such as Spain and France. 

Giorgio Medda, Chief Executive Officer and Global Head of Asset management & Fintech at Azimut Group, comments: “Despite the volatility, cryptocurrencies are emerging as a new asset class reflecting a new digital dimension of the economy that will be increasingly significant for generations Y and Z. Young Platform has developed crypto exchange capabilities in combination with gaming and educational verticals that are particularly valuable as we plan to grow a market segment for a new generation of investors who are looking to the future with financial perspectives based on non-traditional instruments. The Young Platform team uniquely combines technological capability and vision. From our perspective as global venture capital investors, with the experience of SBI and the support of GELLIFY, we believe there is great potential for its development in the European markets. This investment aims to be the cornerstone for the development of joint projects through which we can integrate blockchain and decentralized finance into our asset management platform as new investment and operational opportunities in the digital transformation of our industry, transcending market dynamics in the short term.”

Andrea Ferrero, CEO of Young Platform, comments: “We want to help people seize the new opportunities that technology offers to the world by attracting the best talent from technology and finance, or any other industry where the smartest people in the world are to be found, and grooming them to be innovative in this new industry. There are no defined rules in this industry, which means we can help write them. This is a huge chance that requires extremely creative problem solving and a true desire to change the status quo in every aspect, from marketing to tech to customer support and design.”

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1 million YNG Tokens bought in the first 4 days of the Community Sale

After only 4 days of the Community Sale, 1 million YNG have already been purchased!

Today we celebrate a great achievement and take a moment to thank you and the entire Young Platform community for your support and trust in this great project of ours: the launch of the YNG token on the market! 

The Community Sale has been active since the 10th of May

Before the official listing scheduled for 31 May 2022, Young Platform organised a special sale for its community. From the 10th of May, you can buy YNG in advance and enjoy a number of benefits. Those who bought these YNG 1 million, did so with no fees and at a fixed price of €0.24 per token. They also received cashback (for a spend of €200 or more). Not bad, eh? Want to be one of YNG’s early adopters? You still have time until 24 May. 

How many YNGs have already been sold? How many are in circulation?

Young Platform’s tokenomics forecast a maximum circulating supply of 100 million, of which 1 million were sold in 4 days of Community Sale. Despite the sheer size of the figure achieved, YNG’s market adventure has only just begun!

Brace yourself, the news is not over!

YNG is a 100% European project, and Young Platform is proud of all the enthusiasm it is generating. A passionate community is the litmus test of a solid project. From the desire to enhance and reward our community, Clubs were born. Packages of discounts and unmissable benefits will soon be accessible by blocking certain amounts of YNG. The Clubs will be available from 31 May, at the same time as the launch of the Young token on the market.

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FAQ: Young Platform Clubs

How do the Clubs work? FAQ about the YNG token

Here are the Young Platform Clubs: packages of exclusive benefits and opportunities. Got doubts? Here is the FAQ!

Along with its market listing, the YNG token is introducing another new feature at Young Platform: the Clubs. They can be accessed by blocking a certain amount of tokens, and membership entitles you to discounts and promotions. What are Clubs? How many YNG do I need to block? How can I join? These and other questions are answered in this article. Welcome to the Young Platform Clubs FAQ!

Find out about:

  • What are the clubs?
  • What are the main benefits?
  • How does signing up for the Clubs work?

The benefits

What are the Clubs?

Clubs are the evolution of the proportional discount plans given by holding YNG.

They are packages of advantages that are accessible by blocking YNG. The more YNG you block, the greater the advantages and the higher the Club level you’ll get. Discover all levels on the Clubs page.

What are the main advantages of the Clubs?

The benefits reserved for Clubs are many and diverse, with constant updates and new ones in development. The higher level Clubs reserve more benefits in proportion to the number of YNG required for membership. Discover all the benefits in the dedicated app section or on the official Clubs page!

If I already have a discount on fees, what discount will I get by joining a Club?

If you already have an active fee discount and you join a Club, you will only benefit from the higher discount of the two.

If I have enough YNG to upgrade my Club level, but my membership is not yet expired, how do I do that? 

If you have enough YNG to advance to the next club, you can do so even if your 90 days of membership are not yet up. You only need to block the missing YNG to move up a level. For example, if you want to upgrade from Silver to Gold, you only need to have 5000 YNG to block in your membership, as you already have the other 5000.

To make this upgrade, click on the sign up button for the next club. From the moment you confirm it, your new Club membership will last at least 90 days. 

On the other hand, it is not possible to unlock YNG before the end of a membership to downgrade to a lower club.

Do the fee discounts given by the Clubs also apply to Young Platform Pro?

Yes

Sign-up process

When does club membership expire?

You can join a Club at any time. Membership lasts for a minimum of 90 days, after which you can cancel it if you do not want to remain in the Club automatically.

What’s the minimum amount required to access a Club? 

You need to block at least 1500 YNG to access the Bronze Club. These YNGs are not spent, but simply blocked until unsubscription.

What does ‘locking YNG’ mean?

It means that in order to sign up and remain a member, you have to ‘freeze’ a certain amount of YNG, i.e. keep it blocked without being able to sell or transfer it. This means that the moment you decide to unsubscribe, you can unlock YNG and use them as you wish. This is why you don’t actually spend money.

Can I use blocked YNG tokens to join a Club?

No, only free YNG tokens that are useable within the Step Wallet can be used for Club membership.

How do I sign-up to a Club?

In the top bar of the Young Platform app, you will see the ‘Clubs’ section. Click and choose the Club of your choice. Then to join, simply block the required number of YNG tokens. Membership lasts a minimum of 90 days.

Are Clubs also available on the Pro version?

No, the feature will only be available on the basic app.

How can I renew my membership?

After 90 days of mandatory membership, if you do not deactivate your membership manually, your membership will automatically be renewed.

Cancelling my membership

How can I cancel my Club membership?

You can only cancel your membership after 90 days. In the Club section of the Young Platform app, you will see the option to cancel your membership in a few simple steps.

What happens after I cancel my Club membership?

Your blocked YNG will automatically be transferred to your Spot wallet.

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Your exchange opens its doors to the Community: here come the Clubs!

Community Sale Chapter 2: after Cashback, today we discover how Young Platform’s Clubs based on the YNG token work. Here are all the advantages!

On the 10th of May, we launched the Community Sale of the YNG token to allow Young Platform enthusiasts to play ahead of the rest of the market before the 31 May listing.

We have introduced the Cashback mechanism on YNG purchases over €200 and reconfirmed the fixed price of €0.24 until the 24th of May.

But Cashback is not the only advantage of the YNG Token: we have another card to play!

These are the Clubs, exclusive packages for token holders to experience the world of Young Platform even more intensely. It’s time to find out how they work and what benefits they bring!

What are the Clubs and how do they work?

Imagine experiencing Young Platform like a celebrity. Discounts, promotions and exclusive benefits at your fingertips. Imagine being part of an inspiring community and being in direct contact with the team at your favourite exchange. If only you could count on personal attention and five-star support. 

No need for daydreaming, the Clubs are coming to fulfil your fantasies! 

The crypto project of the moment decides to do an airdrop in collaboration with Young Platform? Perfect, you will receive a bonus on the tokens distributed!

Want to stake your cryptocurrencies? Great, your rewards will be increased and your assets won’t just gather dust!

So if you want the ultimate crypto experience on Young Platform, don’t miss out on the Clubs. These are packages of benefits that will be accessible from the 31st of May* by locking the YNG you own or buy. The more YNG you lock, the more benefits you will get and the higher your Club level will be.

Accepting the invitation to the Clubs also means actively contributing to the growth of Young Platform: in an ecosystem, as in a community, the success of one part is the success of all!

How do I join the Clubs?

The Clubs are already visible from the 10th of May on Young Platform, but you can only sign up from the launch of YNG on the market, on the 31st of May*.

Only YNG from your Step Wallet can be used to join a Club, i.e. not locked YNG.

The minimum subscription period – and therefore the blocking of YNG used to join – will last 90 days.

After these 90 days, you can decide to unsubscribe and unlock the YNG, or stay subscribed and leave the YNG locked for as long as you want. 

Do you have more questions about how Exclusive Clubs work? Here are all the answers you need!

*Dates may be subject to change because of delays caused by third parties involved in the process.

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Discover what YNG is, Young Platform’s community token!

yng token

The Young Platform token can be purchased in advance thanks to the Community Sale. Find out what YNG is and how it works!

We’re excited to introduce YNG, Young Platform’s token! With our Community Sale, we want to give you the chance to buy the token in advance, before the official launch. What’s the advantage of the pre-sale? To reward those who have always believed our exchange, you’ll get up to 15% cashback during the Community Sale. All without commissions! What’s more, for the duration of the Community Sale, the token price will remain locked at 24 cents. Find out what YNG is and how it works!

A token compatible with Ethereum

A token is a based on a blockchain external to the project that developed it. This means that Young Platform does not have its own blockchain, but has decided to create its YNG token on Ethereum, using its ERC-20 standard. Ethereum is one of the longest-running and most famous blockchains in the crypto world, and is used extensively for the creation of new tokens. The ERC-20 standard is among the most secure and widely used, and is the protocol of choice for cryptocurrencies of all types such as Chainlink, Tether and BAT. One of the features of the YNG token is therefore its compatibility with Ethereum! 

A community-token for a community-driven project

One of the cornerstones of Young Platform is its focus on the community. Thanks to YNG, everyone can enter the world of blockchain! The token allows you to not only be a passive spectator of the crypto world, but to become part of a technological ecosystem that is developing right now, before our eyes. You can earn rewards in YNG by studying and testing your knowledge on Young Platform Step, or you can unleash your inner trader by trading the token on our exchanges. Or you can enjoy exclusive bonuses reserved for those who block a certain number of YNG tokens in their Wallet. Whichever path you choose, with YNG you’ll have front row seats to watch this technological revolution with like-minded people!

Not only for expert traders!

After the end of the Community Sale, the official YNG listing will follow. What does this mean? It means you can unleash your inner trader and trade the Young token just like you trade Bitcoin and Ethereum! The price will no longer be locked at 24 cents but will be decided by the market, so take advantage of the cashback and fixed price to get a head start. Even if you’re new to trading, you’ll find the Young Platform services to be as simple and intuitive as you need to get started. 

But the news about the Young (YNG) token doesn’t end there. Buying and locking YNG will provide you with fantastic benefits to give you a tailor-made experience in the crypto world. Want to know more? All will be revealed tomorrow!

In summary, the YNG token reflects all the characteristics and ideals of Young Platform. The search for proven and reliable technologies, such as Ethereum, to promote a secure and certified experience. The focus on ensuring straightforward and no-nonsense services, to learn crypto by going straight to the point. But above all, the centrality of the community and the desire to reward its loyalty!

Now that you know what the YNG token is and how it works, why not be one of the first to join us in the Community Sale? Share your passion for cryptocurrencies and join Young Platform!

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FAQ: YNG token community sale 

FAQ: How does the community sale of the YNG token work?

The YNG token Community Sale allows you to pre-purchase YNG while saving money and earning bonuses. Having doubts? Here’s the FAQ! 

Today, the 10th of May, the Community Sale of the YNG token has begun. The big news has been unveiled: YNG will be released into the marketplace at the end of the month. Young Platform has organised a pre-sale for all those who want to buy YNG before the market launch, and you are entitled to a number of benefits. Welcome to the Community Sale FAQ!

What is the Community Sale and how long does it last?

The Community Sale is a period of time during which our users are given the opportunity to purchase our proprietary YNG token at advantageous conditions (Cashback, 0% commission and fixed price): it will last from 10 to 24 May 2022.

How much does the YNG token cost?

During the community sale, one YNG is equivalent to 0.24€. 

Are there fees for buying YNG?

No. During the Community Sale, no fee is charged for the purchase of YNG.

Is the cashback an offer valid for all?

Yes, anyone can obtain the cashback reward, by buying at least 200€ worth of YNG. The offer is valid for new as well as old users.

What’s the minimum amount to obtain cashback for buying YNG? 

You need to make a purchase equivalent to at least 200€, or 834 YNG.

The general minimum purchase amount is only 10€ of YNG, however you will not receive cashback for a purchase worth under 200€

In what currency will I receive the cashback?

In YNG.

How long will the YNG I get from cashback be blocked?

90 days from the day you made the corresponding purchase. If you make more than one purchase, you will see the differentiated expiry date for each cashback received.

Is purchasing with Cashback also possible on Young Platform Pro?

No. You can only receive Cashback by purchasing on the web and mobile (app) version of Young Platform in its basic version.

What will happen after the Community Sale?

After the 24th of May, the buying and selling of the Young token (YNG) will be blocked – until the 30th of May*. After that YNG will be launched on the open market and potentially listed on other exchanges, then the price will start to change according to the law of supply and demand. At launch, the buying, selling and trading of the token will be simultaneously rehabilitated. 

What happens on the 31st of May*?

The Young token (YNG) will become like any other token on the market, i.e. volatile. Starting from the price of €0.24, depending on the supply and demand of users, i.e. how much is bought, purchased or held, the price could rise or fall.

When can I sell YNG?

From the 31st of May* onwards.

What are the technical characteristics of the YNG token?

Young (YNG) is a token, and more specifically an ERC-20 token, i.e. based on Ethereum’s standard protocol token. This means that it is compatible with Ethereum’s entire ecosystem of wallets, blockchains and Dapps.

The role of YNG within the Young Platform ecosystem is that of a utility token, i.e. a token that, in addition to having a price, only has added value within the product system for which it was created, offering a series of specific advantages and use cases. 

Is whitepaper for YNG available?

The whitepaper will be available the day of market launch, on the 31st of May*.

If I already have blocked tokens from the 2019 crowdfunding, how do I distinguish them from blocked tokens for the community Sale?

If you are a 2019 crowdfunding investor on Seedrs, within the “Locked YNGs” section you will see an amount labelled “Crowdfunding” and other amounts labelled “Community Sale” with different expiry dates.

Can I convert YNG to other cryptocurrencies?

No, it will only be possible after the market launch, if pair listings with other cryptocurrencies occur.

*Dates are subject to change because of delays caused by third parties involved in the process.

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Buy the YNG token to claim Cashback and advantages

YNG Token: 3 reasons to buy it now

A preview for the community: the Young Token (YNG) for sale with exclusive benefits

A new chapter in the history of the YNG token starts here: YNG will be launched on the 31st of May 2022*! Yes, Young Platform is ready to take the plunge and introduce its token to the entire crypto world. All signs point to market listing, so raise your hand if you guessed right! What does “entering the free market” mean for YNG? It will be able to be bought, sold and transferred on any exchange and blockchain that supports it.

Young Platform wants to celebrate this milestone first and foremost with our users, so before the official listing there will be a special Community Sale where you can buy YNG with exclusive benefits. The Community Sale starts today, Tuesday 10th May and ends on Tuesday 24th May. Check out all the details and bargains waiting for you!

What do I need to know about the YNG token before I buy it?

  • It’s an ERC-20 token, so it’s compatible with the entire Ethereum ecosystem (also Layer2)
  • It’s a utility token, i.e. it is designed solely to have utility within the Young Platform ecosystem. It does not represent shares in the company.
  • Until the 31st of May* it will not be possible to sell YNG

Take advantage of the fixed price of the YNG token

The first opportunity you should not miss is the chance to buy YNG at its fixed price of 0.24€. The Community Sale will be the last time the price of YNG will remain unchanged, after listing and entering the market, the price of YNG will start to fluctuate according to supply and demand. To make it very simple: the less people sell and the more people buy, the higher the price – conversely, the less people buy and the more people sell, the lower the price.

You know what the beauty of it is? These people are you. It’s you and the community that determines the performance of YNG, the same people who have the opportunity to buy it in advance. It’s safe to say that YNG is a community-driven token!

What are the advantages of buying YNG before 24 May?

Bargains are not limited to the fixed price. Your support during this milestone for Young Platform is very important, and we want to reward it as it deserves. Here are the 3 great advantages of participating now (expires 24 May):

  • YNG will keep its fixed price at 0.24€. 
  • Commissions on the purchase of YNG will be reduced to zero.
  • If you buy more than 200€ of YNG you will receive Cashback in YNG

How does Cashback work?

If you purchase the YNG Token between the 10th and 24th of May, you will receive a percentage of YNG in Cashback based on the amount you purchased in Euros.

This offer is valid for all: those who signed up a while ago as well as new users.

YNG Token: 3 reasons to buy it now

From the minimum purchase amount of 10€, up to 199€, you will not receive cashback.

The cashback obtained will be credited immediately to your Young Wallet (YNG), within the “Locked YNG” section.

The cashback in YNG will be blocked for 90 days, i.e. it cannot be sold or transferred for 90 days, after which it must be manually unlocked..

For every single purchase you make, you will see a cashback blocked in this section on the exchange, each with its own clearly marked expiry date.

For all details, check the dedicated FAQ!

Fixes prices, zero commissions and cashback: this phase is the perfect opportunity to get the most out of your favourite crypto exchange.

The launch on the crypto market is a momentous step in Young Platform’s history. YNG was first distributed through an Airdrop on Step in 2018, with over 1 million YNG issued to the initial community during the first year. From 2020, onwards YNG could be bought and sold at a fixed price on the Young Platform exchange, and this introduced its first utility: providing a discount on buying and selling commissions.

With the launch of its token in the market, Young Platform becomes a full-fledged crypto ecosystem. And YNG is the key that unlocks its full potential. Are you ready to invade the crypto sky with us, in a flock of early adopters?

*Dates may be subject to change because of delays caused by third parties involved in the process.

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Axie Infinity (AXS) lands on Young Platform!

Axie Infinity (AXS) listing on Young Platform

AXS, the token for playing and earning on Axie Infinity, is now available on the Young Platform exchange.

Gaming is one of the branches of the blockchain industry that is contributing to the popularity and spread of cryptocurrencies. One of the most popular and widely used video games on blockchain by gamers around the world is Axie Infinity, a play-to-earn Metaverse launched in 2018 that earns AXS through challenges and quests. You can now purchase the AXS token on Young Platform and Young Platform Pro!

What is Axie Infinity?

Axie Infinity is a blockchain game that uses the Ethereum infrastructure. The way it works is very similar to video games where you receive “gold” for completing specific actions, but in the case of Axie Infinity the tokens obtained are cryptocurrencies and their value does not just limit itself to within the game dynamics.

The protagonists of the Axie Infinity games are the Axies, fantasy-like NFT monsters that live in the Lunacia universe. In order to take part in the game experiences in the Metaverse, you must have at least one Axie. Axies must be bred and can fight each other in Arenas, with most player rewards coming from the success of these two actions. 

What is AXS?

AXS is one of the two tokens on which the internal economy of Axie Infinity is based, its name stands for “Axie Infinity Shards”. The second token in the Metaverse is called Smooth Love Potion (SLP), both of which are ERC-20 tokens. 

AXS is the “glue” that holds all members of the Axie Infinity community together, it can be used for staking, in-game payments and to participate in project governance by proposing updates or improvements. Axie Infinity players earn AXS as rewards for completed missions and reuse them to maintain their Axies. 

Why did we choose AXS?

On Axie Infinity you can also experiment with a range of decentralised finance services. In fact, the original intent of its developers was to bring people closer to DeFi through a fun platform. An educational mission that we at Young Platform fully share! With Axie Infinity you can try your hand at staking, decentralised NFT lending and the mechanics of a real DAO. 

Which pairs are available for AXS?

  • EUR-AXS

Want to know more?

Read the Academy article dedicated to Axie Infinity!

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Amounts for Card Deposits have increased

The maximum amount allowed to deposit by credit or debit card on Young Platform has changed.

How does the card deposit work?

Depositing by credit, debit or prepaid card via Visa or Mastercard is a deposit method only available in Italy for cards issued in Italy.

This is one of the instant credit methods, along with Satispay. Instant transfer and cash recharge can take up to 15/30 minutes.

What changed?

You can now deposit up to €1500 in a single card transaction, instead of €250.

Within a 7-day period, you can deposit up to a maximum total of €3000 by card, while there is no longer a daily limit.

In the case of Cards, these limits apply to all Account Levels without distinction, whether you have only completed the Level 1 identity verification, or the following.

In fact, it is only in the case of Bank Transfers that limits depend on Account Levels.
You can consult the limits and fees for other deposit methods on this page.

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Ankr (ANKR) lands on Young Platform Pro!

Ankr is the protocol that makes Web3 accessible to everyone. Now its ANKR token is available on Young Platform Pro!

The Ankr protocol has many features and is suitable for those who want to develop and explore the potential of Web3 and DeFi. This Young Platform Pro listing takes you on a tour of its native token: ANKR. 

What is Ankr?

Ankr is a protocol that started in 2017 as a decentralised cloud computing network (DCCN). However, today its uses have multiplied, in particular, Ankr aims to facilitate the use and development of Web3 with different blockchains. Ankr’s flagship service is related to the opening of nodes in a network. Thanks to Ankr, the barriers to becoming a node are reduced and the creation of business models, applications and strategies based on staking or validation is facilitated.

Ankr offers a range of APIs and development tools for programming on all major Layer 1 and Layer 2 blockchains.

A more specific Ankr solution is staking. With Ankr it is possible to become a staking provider by simply offering one’s own computational power to Ethereum nodes, or staking as a user with only 0.5 ETH and receiving rewards in aETH, a token tradable on Uniswap. This solution stems from the need to make participation in Ethereum 2.0’s Proof-of-Stake more accessible, which requires at least 32 ETH to be blocked.

This mechanism also applies to other staking protocols, whereby Ankr makes it possible to obtain rewards from tokens used in staking and at the same time be able to use them, through so-called “liquid staking“.

What is ANKR?

ANKR is the utility token and governance token of the protocol. It can be used with both the Ethereum standard, ERC-20, and BEP-20, the BNB Chain standard.

Its utility in the network is transactional, in fact it is the payment currency that users need to access services offered by providers in the decentralised network. The token can also be staked to contribute to the network and/or receive rewards. Ankr also has a DAO, in which any ANKR owner can participate to support the decentralised governance of the project.

Why have we chosen ANKR?

Ankr offers a reference infrastructure to DeFi users, dapp developers and professional stakers alike. It thus manages to overcome the current limitations of blockchain and make it accessible, without sacrificing decentralisation. 

Chandler Song, along with two fellow UC Berkeley students, decided to found Ankr following his experience at Amazon Web Services (AWS), with the aim of decentralising cloud computing. But Ankr has not limited itself to this and has been able to adapt to the new technological demands of the rapidly changing market, developing solutions for Web3. 

Pairs available?

  • ANKR-EUR