Coinbase is adding EOS, Augur’s REP and MakerDAO’s MKR to its professional trading platform Monday.
The company announced that customers would be able to begin depositing the tokens as of 19:00 UTC, with EOS and Augur’s REP now available in every jurisdiction that Coinbase Pro serves, except New York state. MKR can be bought in all jurisdictions outside the U.S.
While EOS and REP both have dollar, euro and bitcoin trading pairs, MKR can only be bought using bitcoin or USDC, a stablecoin issued by Coinbase and Circle through a joint venture, the post said.
Users won’t be able to trade right away: the addition of the tokens will go through four stages.
For at least 12 hours after the initial announcement, customers can only transfer EOS, REP and MKR to their accounts. Then for a short period it will be only possible to post limit orders, which will not be matched for one minute.
After that, limit orders will start matching but customers will not be able to submit market orders for 10 minutes. Ultimately, full trading activity will open for the new tokens, including limit, market, and stop orders.
Augur’s Reputation token (REP) is an ERC-20 token for rewarding reporters on the online prediction markets, i.e. participants who report the outcome of the events other participants bet on. The Maker token (MKR) is used for voting on issues related to MakerDAO’s stablecoin, DAI, which is designed to keep its value at $1 via algorithmic supply adjustments.
“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,” Coinbase said in its blog.
Coinbase first announced it was considering these three tokens amid a broader list published last December.
The exchange recently has broadened its altcoin reach, adding Ripple-associated XRP in February and Stellar Lumens (XLM) in March. The same month, Coinbase announced a new staking service for the large holders of Tezos’ XTZ tokens: they can lend their tokens to the Tezos network validators (“bakers”) and earn interest on the asset while keeping it in the safety of Coinbase’s cold storage.
Author: Anna Baydakova