New assets this week: MEME, AXL, ZETA & XAI

At Bitvavo, our assortment of assets is consistently expanding. In January, we introduced eight new coins to our platform, and we are pleased to share that four more assets will be added this week: Memecoin (MEME), Axelar (AXL), ZetaChain (ZETA), and Xai (XAI).

The decision to include these assets was driven by numerous requests from our community. Please be mindful that some, like ZETA and XAI, are relatively new projects and may experience higher price volatility. Approach trading them with caution.

Stay informed about the availability of these new assets through push notifications and our social media channels. Additional details about the recently added assets can be found in the information provided below.

About Memecoin (MEME)

Memecoin (“MEME”) is a digital token compatible with the ERC-20 token standard. MEME is the native ecosystem token of Memeland, the web3 venture studio by 9GAG, the famous meme platform. According to Memecoin’s whitepaper, “MEME has no functions, no utility and no intrinsic value, no promise or expectation of any financial return, profit, interest or dividend.” The project itself even states that “MEME is completely useless and for entertainment purposes only”. Therefore, if you trade MEME, please keep in mind that it is a highly volatile coin and should be traded with caution. 

About Axelar (AXL)

Axelar states on its webpage that it is "for Web3 what Stripe is for mobile and internet applications", indicating that it operates on the backend to link networks into seamless one-click experiences for users. The project offers a decentralized network and a suite of tools to assist developers of decentralized applications (dApps) in achieving smooth cross-chain communication through its protocol suite, tools, and APIs.

Axelar consists of three core components: a decentralized network, a software development kit comprising protocols and APIs, and a collection of gateway smart contracts designed for cross-chain connectivity. App developers can interact with a user-friendly API on an open network, managing message routing and ensuring network security through a proof-of-stake (PoS) consensus mechanism. The native token of the Axelar network is AXL.

About ZetaChain (ZETA)

ZetaChain is a Layer 1 blockchain that offers chain-agnostic interoperability, compatible with EVM, Cosmos/IBC, Bitcoin, Dogecoin, Tron, and more. ZetaChain aims to facilitate the development of applications that can seamlessly utilize cryptocurrencies from different chains, bringing them together under a unified system. Developers can use ZetaChain's messaging features to send data and native value between different chains without the need for asset wrapping. Additionally, ZetaChain is set to introduce native smart contracts, empowering developers to create omnichain decentralized applications (dApps) that efficiently manage funds across various chains through a single contract.

About Xai (XAI) 

Xai is a cryptocurrency project tailored for gamers and describes itself as the world's first Layer 3 solution for AAA gaming. Xai operates on the Arbitrum Layer-2 platform. Its core purpose is to facilitate quick and efficient trading of in-game items. The open and decentralized nature of the Xai (XAI) network allows community participation in governance, indicating its potential in the gaming industry. 

The Xai token acts as the designated gas token for transactions within the network. Validator nodes receive Xai tokens as rewards for validating transactions. Additionally, within the gaming ecosystem, the Xai token functions as the primary currency, accepted for game purchases and in-game items.

Considering XAI is a new project and only 12% of the tokens are unlocked, please be aware of the higher risk associated with trading this asset.  

Interested in these assets? Open an account and start trading.