What happened: Major cryptocurrency exchange Voyager Digital (CSE: VYGVF) has successfully upgraded their VGX token alongside the launch of the web3-based Voyager token exchange.
Why it matters: The Voyager app, and now the Voyager token exchange, offer users the opportunity to stake their VGX tokens to earn a 7% annual yield on their investment.
Voyager is a publicly traded company listed on the Canadian Stock Exchange, which adds credibility to the platform. Voyager’s primary product is their intuitive mobile app, which allows users to trade cryptocurrencies without paying fees. This makes it an ideal platform for traders, who are often priced out by high gas fees on the Ethereum blockchain and centralized exchanges.
You can open an account with Voyager and begin trading fee-free here.
Upgrading pre-existing cryptocurrency technology is inherently difficult due to the decentralized nature of the blockchain. Holders of the token must be on-board with the upgrade in order to prevent a hard fork. Luckily for Voyager, the community was very supportive of the upgrade which they perceive to add value to the token.
See also: Voyager Exchange Review
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.