KuCoin Lists DeFi Protocol Ithaca (ITHACA) for Spot Trading

• KuCoin has listed the Ithaca Protocol (ITHACA) on its trading platform.
• The exchange will support ITHACA deposits via the BSC-BEP20 blockchain network.
• Ithaca Protocol is a non-custodial, composable, AI-enabled option ecosystem.

Seychelles-based cryptocurrency exchange KuCoin has listed the Ithaca Protocol (ITHACA) on its trading platform. On December 18, the crypto trading platform announced via a blog post that ITHACA would be available on its spot trading platform. Users could start trading the digital asset within 24 hours after the announcement.

KuCoin noted that its platform will support ITHACA deposits via the BSC-BEP20 blockchain network, and ITHACA trading will be available as an ITHACA/USDT trading pair. Also, KuCoin will enable trading bots for the activated trading pair under the Spot Grid, Infinity Grid, DCA, Smart Rebalance, Spot Martingale, Spot Grid AI Plus, and AI Spot Trend services.

What is the Ithaca Protocol?

Ithaca Protocol is a relatively new player in the decentralized finance (DeFi) sector. It is a non-custodial, composable, AI-enabled option ecosystem getting significant awareness in the crypto industry. Many crypto users in the DeFi ecosystem believe the newly launched protocol will tackle the existing limitations in traditional options trading.

Read also: KuCoin Launches Options Trading with BTC and ETH, Offers 100K USDT in Rewards

Meanwhile, the listing will allow KuCoin users to access Ithaca Protocol’s innovative features, letting them overcome the limitations in options trading. These features include an auction-based matching engine, which can improve liquidity, an off-chain pre-matching system that reduces congestion on the blockchain, a composable option system for creating complex option strategies, and the facilitation of structured products.

Ithaca Protocol’s Recent Performance

Data from DeFiLlama shows that Ithaca Protocol has a $2.68 million Total Value Locked (TVL). The protocol saw a consistent increase in TVL since it launched in May, with a momentary dip in mid-October. ITHACA’s rising TVL shows the novel protocol’s growth and adoption.

KuCoin’s listing opens a new gateway for crypto users into the Ithaca Protocol ecosystem. The newly launched protocol saw a notable increase in trading volume this month and reached its record volume of $468,000 on December 16, shortly before the KuCoin listing announcement.

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