Polygon (MATIC), Skale Network (SKL) and SushiSwap (SUSHI) are launching on Coinbase Pro
Polygon (MATIC), SKALE (SKL) and SushiSwap (SUSHI) are launching on Coinbase Pro
Starting Today Tuesday March 9, transfer MATIC, SKL and SUSHI into your Coinbase Pro account ahead of trading. Support for MATIC, SKL and SUSHI will be available in all Coinbase’s supported jurisdictions, with the exception of SUSHI which will not be supported in New York State. Trading will begin on or after 9AM Pacific Time (PT) Thursday March 11, 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 The Graph (GRT), Aave, (AAVE), Bancor (BNT), Synthetix (SNX), Filecoin (FIL), NuCypher (NU), Wrapped Bitcoin (WBTC), Balancer (BAL), Ren (REN), Uniswap (UNI), yearn.finance (YFI), Loopring (LRC), UMA (UMA) Celo (CGLD), Numeraire (NMR), Band (BAND), Compound (COMP), Maker (MKR) and OmiseGo (OMG), along with supporting additional European and UK order books. Coinbase continues to explore support for new digital assets.
Starting immediately, we will begin accepting inbound transfers of MATIC, SKL and SUSHI to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT) Thursday March 11, if liquidity conditions are met.
Once sufficient supply of MATIC, SKL and SUSHI is established on the platform, trading on our MATIC-USD, MATIC-BTC, MATIC-EUR, MATIC-GBP, SKL-USD, SKL-BTC, SKL-EUR, SKL-GBP, SUSHI-USD, SUSHI-BTC, SUSHI-ETH , SUSHI-EUR, and SUSHI-GBP, order books will launch in three phases, post-only, limit-only and full trading. 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.
Polygon (MATIC): is an Ethereum token that powers the Polygon Network, a multichain scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon bridge smart contract, interact with them within Polygon sidechain, and then later withdraw them back to the Ethereum main chain, if need be. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.
SKALE (SKL):is an Ethereum token that powers SKALE, which describes itself as “an Ethereum-compatible network with a leaderless consensus designed to run on an uncapped number of independent nodes.” Nodes on the Skale Network provide resources to multiple decentralized elastic blockchains. The SKL token grants a right to participate as a network validator, stake as a delegator, or access a share of the network’s resources as a developer.
SushiSwap (SUSHI): is an Ethereum token that powers SushiSwap, a decentralized cryptocurrency exchange and automated market maker built on Ethereum. Holders of SUSHI can participate in community governance and stake their tokens to receive a portion of SushiSwap’s transaction fees.
MATIC, SKL and SUSHI 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 owns MATIC tokens as a result of a 2019 investment in Matic. Coinbase Ventures intends to maintain its investment in Matic for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including MATIC tokens.
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Polygon (MATIC), Skale Network (SKL) and SushiSwap (SUSHI) are launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.