It’s been an exciting few weeks for the cryptocurrency space and this week doesn’t seem any different.
On Monday, Coinbase announced that they are adding EOS, Augur’s REP and MakerDAO’s MKR to its professional trading platform.
The US exchange announced that customers will be able to start depositing the tokens as of 19:00 UTC, with EOS and Augur’s REP now available in every jurisdiction that Coinbase Pro services, except New York state. MKR can be bought in all jurisdictions outside the United States.
You may already know that EOS and REP have both got Bitcoin, Euro and Dollar trading pairs but MKR can only be bought using Bitcoin or USDC, a stablecoin issued by Coinbase and Circle through a joint venture as the post said.
Users won’t be able to trade right away though and the addition of the tokens will go through four phases.
For around 12 hours after the initial announcement, customers can only transfer EOS, REP and MKR to their accounts. And then for a short period after, it will only be possible to post limit orders, which won’t be matched for one minute.
After all that, limit orders will start to match but customers won’t be able to submit market orders for ten minutes. In the end, full trading activity will open for the new tokens including, market, limit and stop orders.
Keep on Listing
Augur’s reputation token 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 is primarily used for voting on problems that are related to MakerDAO’s stablecoin, DAI which is designed to keep its value at $1 through algorithmic supply adjustments.
In their blog, Coinbase said, “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.”
It was initially announced that Coinbase was considering these three tokens amid a broader list published at the end of last year.