In keeping with its decision to add more tokens onto its platform, Coinbase Pro has just made DAI’s governance token Maker (MKR), prediction platform Augur’s token (REP), and Ethereum and TRON competitor EOS (EOS) available to its professional traders. Support of new tokens on the consumer platform usually follows.
The exchange made the announcement via a blog post and, as always, the tokens will only be made available to eligible jurisdictions, except for the state of New York. The MKR token, however, will only be available to investors outside the United States.
New tokens added to Coinbase Pro follow a phased launch, with the intention of establishing liquidity for the tokens on the platform. The first phase, transfer-only, takes place today, on April 8, which lets users transfer their tokens to their Coinbase wallets. This will be followed by post-only, limit only, and finally, full trading phases. Coinbase establishes this protocol to ensure a healthy and hassle-free trading process.
EOS is a popular token, and while its inclusion on a major exchange will make its investors glad, the inclusion of Maker (MKR) and Augur (REP) will be exciting for market enthusiasts.
Augur, a prediction market platform, is seen as an excellent use case for cryptocurrencies, and has seen some nods of approval from Vitalik Buterin. The MKR token is used as a governance token for MakerDAO’s stablecoin DAI. In its ecosystem, the MKR token focuses specifically on controlling volatility, acting as a governance and utility token. MKR hodlers can vote on various aspect of the project with the token.
Coinbase is one of the most popular exchanges and has received many requests from users to add more tokens. Last year that they would be adding new tokens to the platform and, since then, they have steadily been adding more tokens, including Basic Attention Token (BAT), Golem Network Token (GNT), Ziliqa (ZIL), Stellar Lumens (XLM), and, somewhat notoriously, Ripple’s XRP.
The full list of tokens supported by Coinbase can be viewed here.