Alchemix (ALCX), Ethereum Name Service (ENS), Gala (GALA), mStable USD (MUSD) and Power Ledger (POWR) are launching on Coinbase Pro
Starting Today, Monday November 15, transfer ALCX, ENS, GALA, MUSD and POWR into your Coinbase Pro account ahead of trading. Support for ALCX, ENS, GALA, MUSD and POWR will generally be available in Coinbase’s supported jurisdictions with certain exceptions as indicated in each asset page here. Trading will begin on or after 9AM Pacific Time (PT) Tuesday November 16, if liquidity conditions are met.
One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for Crypto.com Protocol (CRO), Kryll (KRL), LCX (LCX) SUKU (SUKU), OriginTrail (TRAC), Assemble Protocol (ASM), ARPA Chain (ARPA), Bounce (AUCTION), Perpetual Protocol (PERP), BadgerDAO (BADGER), Rarible (RARI), Function X (FX), Jasmy (JASMY), Wrapped Centrifuge (WCFG) and Avalanche (AVAX).
Starting Today, Monday November 15 we will begin accepting inbound transfers of ALCX, ENS, GALA, MUSD and POWR to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT) Tuesday November 16, if liquidity conditions are met.
Once sufficient supply of ALCX, ENS, GALA, MUSD and POWR is established on the platform, trading on our ALCX-USD, ALCX-USDT, ALCX-EUR, ENS-USD, ENS-USDT, ENS-EUR, GALA-USD, GALA-USDT, GALA-EUR, MUSD-USD, MUSD-USDT, MUSD-EUR, POWR-USD, POWR-USDT and POWR-EUR order books will launch in phases, post-only or auction mode then limit-only or full trading mode. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.
We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.
Alchemix (ALCX) is an Ethereum token that governs Alchemix Finance, a protocol that lets users open collateral-backed loans that are paid off automatically using yield generated by the collateral. ALCX can be used to propose and vote on changes to the protocol.
Ethereum Name Service (ENS) is an Ethereum token that governs the Ethereum Name Service, a protocol for human-readable crypto addresses and decentralized domain names. ENS will be used to propose and vote for changes to the protocol.
Gala (GALA) is an Ethereum token that powers Gala Games, a platform for blockchain gaming. GALA is used as the medium of exchange between Gala Games participants. For example, it can be used to pay for in-game items.
mStable USD (MUSD) is a decentralized stablecoin running on Ethereum that attempts to maintain a value of US$1.00. Unlike centralized stablecoins, MUSD isn’t backed by US dollars in a bank account. Instead, it’s backed by an array of other stablecoins deposited as collateral on the mStable protocol.
Power Ledger (POWR) is an Ethereum token that powers the Powerledger platform, which aims to enable peer-to-peer energy trading. POWR is required to participate in Powerledger and helps secure its various products, including energy trading, clean energy tracking, and verification.
ALCX, ENS, GALA, MUSD and POWR are not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.
Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.
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Alchemix (ALCX), Ethereum Name Service (ENS), Gala (GALA), mStable USD (MUSD) and Power Ledger… was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.