Jigstack, a decentralized autonomous organization (DAO) governing a portfolio of Ethereum network assets and protocols announced its listing on HitBTC.
Being listed on the leading European cryptocurrency exchange gives STAK token, the native cryptocurrency of the Jigstack platform an opportunity to access a wider market.
STAK tokens were made available on the HitBTC exchange as of 25 May 2021 at 2 pm UTC. Notably, trading will commence today, at 2 pm UTC on 27 May 2021.
The asset will be available to trade in two pairs namely STAK/BTC and STAK/USDT. This means that users need to hold either BTC or USDT to trade the STAK token on the HitBTC exchange
The STAK token is an ERC20 token that has a maximum supply of 3,000,000,000. The token is used on the Jigstack network to carry out transactions as well as governance.
Roby Weir, founder of Jigstack explained:
“Jigstack’s aim is to create a structured system for the DAO to exist within, utilizing $STAK as its governance token while adding a range of DeFi protocols under its umbrella”.
Currently, the DAO ecosystem is largely focused on specific types of protocols, whether that be lending platforms, NFT art marketplaces, decentralized exchanges, or even leveraged yield farming platforms, all of these DAO’s are dealing with a single product.
On the other hand, Jigstack aims to create a structured system for the DAO to exist within, utilizing $STAK as its governance token, incorporating a variety of specific DeFi protocols under one Jigstack umbrella.
Jigstack DAO is the first decentralized Ethereum-based DAO (autonomous organization) with a consolidated structure. The Jigstack platform is the next evolution of what can be termed a “DeFi stack of tools”. Each piece of technology developed under the Jigstack DAO has the potential of being stacked together where the output from one product becomes the input to another product. Interoperable protocol stacking is a key component to the potential addressable market for Jigstack.
Jigstack whitepaper reads in part:
“With strategic partnerships, such as Hedera Hashgraph, utilizing our protocols and creating our very own in-house flagship DeFi products, Jigstack positions itself to be the brand name for the DAO of DeFi.”
HitBTC was established back in 2013 and has a daily trading volume of over $1 billion. It is currently among one of the largest crypto exchanges in the world.