Binance Lists MKR and DAI

Binance Lists MKR and DAI

By Abhimanyu Krishnan | News | 24 Jul 2020


Binance has listed the MKR and DAI tokens, according to an announcement made on July 23. The two assets will each be paired against Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD) and Tether (USDT).

A Binance spokesperson said that the exchange had received a lot of requests for the two assets, which are among the most prominent in the DeFi space, with nearly $750 million locked into MKR. The DeFi market itself has over $3.5 billion in locked value, adding $1 billion in July 2020 alone.

In retrospect, the MKR and DAI listing may even seem to be something that was a long time coming. MakerDAO CEO Rune Christensen was a panel member for a discussion on DeFi at the Binance Virtual Conference on July 14, an event which celebrated Binance's 3 year anniversary. 

Binance has been focusing more on the DeFi space in recent weeks, having listed the COMP token in late June 2020. Binance-owned CoinMarketCap has also been providing more data on the DeFi space, with a new section dedicated to related assets. 

The new DeFi section has become the source of new controversy for Binance, after CoinMarketCap briefly listed BNB as the most valuable DeFi asset, ahead of the likes of MKR and COMP. The cryptocommunity responded with strong criticism, saying that there was a conflict of interest in the listing.

CoinMarketCap officials addressed the incident later, saying that the listing was a result of human error.


Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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