Blockchain, the leading provider of cryptocurrency products and creator of the world’s most popular crypto wallet, is partnering with the Algorand Foundation to integrate the native token of the Algorand platform (the “Algo”) into Blockchain’s full suite of products. Starting Thursday, November 28, retail users can begin to deposit and trade Algos across USD, BTC, and USDT pairs on Blockchain.com’s crypto exchange, The PIT, and institutional clients can now trade and borrow Algos.
The firm has also announced a trading contest to celebrate the launch of Algos in The PIT. The contest will begin at 9 a.m. GMT on Wednesday, Dec. 4, and end on Tuesday, Dec. 10 at 7 p.m. GMT. For specific details around eligibility and terms, visit blog.blockchain.com. Eligible participants have the opportunity to win one of three prizes:
- Eligible participants with a balance of $100 USD Algos by Wednesday, December 4th at 9:00 am is automatically entered to win $1,000 USD worth of Algos.
- Eligible participants that trade over $1,000 USD of Algos is automatically entered to win $10,000 USD worth of Algos.
- The user with the highest trading volume in Algos will win $15,000 USD worth of Algos.
The Algorand platform, which launched earlier this year, is the first open source, permissionless, pure proof-of-stake blockchain protocol that removes key technical barriers that have held back mainstream blockchain adoption. Designed by Turing Award-winning cryptographer Silvio Micali, the platform is designed to promote open participation, security, scalability, and performance within a network that is decentralized by design.
With unmatched performance, Algorand has also recently released Algorand 2.0, a protocol upgrade that significantly expands the range of decentralized applications and processes that can be built on Algorand. All of the new features are built directly into Layer-1 providing the key benefits of speed, scalability, and finality.
“Algorand and its foundation continue to make impressive strides in growing its community of developers building businesses and projects its platform, and with the launch of Algorand 2.0 I can only see that accelerating,” says Peter Smith, Co-founder and CEO of Blockchain. “Now, this ecosystem will be accessible to the deep pool of retail and institutional liquidity on our platform, making it an even more competitive network to launch products on.”
“We look forward to being a part of the Blockchain community and our shared excitement for the new technology in Algorand 2.0,” said Steve Kokinos, CEO of Algorand Inc. “With wallet integration and ASA (Algorand Standard Asset) support, Blockchain users will have new opportunities for tokenization, asset issuance and more.”
The companies will integrate Algo tokens into the Blockchain.com’s Wallet early next year making Algos usable to Blockchain’s global user base of 45 million wallets. Blockchain will be providing support for Algorand Standard Assets (ASAs), which make it possible for the tokenization and issuance of any type of asset on the Algorand blockchain, in a standardized way.
Visit blog.blockchain.com for more details.
