HomeCryptoNewsCompaniesPoloniex takes 3 new digital assets on board: Livepeer, Numeraire and Polymath

Poloniex takes 3 new digital assets on board: Livepeer, Numeraire and Polymath

Poloniex has added three promising digital assets to its vast portfolio as part of its endeavor to embrace and be part of projects with a solid drive and potential in advancing the blockchain sphere. The new assets, which are Livepeer (LPT), Numeraire (NMR) and Polymath (POLY), were selected based on the exchange’s merit based system which is derived the Asset Framework available on the exchange’s website.

This means that new listings are not obligated to pay any fees, which is encouraging as it helps to ensure that only projects with a genuine drive to make a difference are incorporated onto the exchange through a common and objective measurement tool.

Assuming that more new assets are not added on the exchange between now and the 31st of December, the recent additions mean that Poloniex has expanded its digital asset portfolio by 14 assets in 2018. Currently, traders are now able to initiate trades through “post only mode” which basically enables order books to get filled before trading is commenced, thus shielding traders against disadvantageous price swings, which in turn helps to create conducive and profitable markets. The new digital assets are expected to pair up with BTC in full trading mode by the 21st of December, provided that satisfactory liquidity is achieved.

Livepeer [LPT]

Livepeer is an Ethereum blockchain-based project aimed at developing a fully decentralized live video broadcasting platform. The platform presents a unique ecosystem where participants broadcast live video which is then encoded into a variety of formats which are compatible with various players across the globe.

The crucial encoding process is carried out by unique participants termed “transcoders” who function as the network’s nodes. Participants or holders of the LPT token vote for transcoders by bonding a certain amount of LPT to the selected transcoder. The transcoders are then rewarded based on the amount of LPT allocated to them through the voting process. Part of the reward goes to the LPT holders thus ensuring an ecosystem that rewards both transcoders and holders while maintaining a highly efficient service.

Numeraire [NMR]

Numeraire is in essence an artificial intelligence (AI) based hedge fund capable of initiating trades based on AI models designed by participants on the Numeraire platform. The network’s participants are able to earn rewards by designing efficient AI models based on data which is generated by the platform.

The best performing models are the ones used by the hedge fund to execute trades. In order to demonstrate participants are required to strake a certain amount of Numeraire tokens. In this case, models which perform efficiently earn rewards whereas those who fall short of the standards are destroyed. This helps to serve as a mechanism that helps to shield against multiple low quality models in the system.

Polymath [POLY]

The Polymath platform has the overall aim of providing legal and technical expertise to facilitate tokenization of various financial assets and instruments. The platform has managed to pull token issuers, legal experts and technical professionals together in order to build an ecosystem which harbors the ability to assist in the production of tokens which are fully regulatory-compliant on the Ethereum blockchain.

The platform uses the POLY token as a medium of exchange for all key operations which include payments relating to the development of new securities tokens and the buying of new tokens created on the platform.

Alfonso Martínez
Alfonso Martínez
Cryptocurrency enthusiast since 2015, a lover of blockchain technology and everything around her. He joined the Crypto Economy team in 2018 as a content editor specializing in SEO. He is also responsible for the Social Networks of the platform.
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