Coinbase Pro Adds Another Four Ethereum Tokens Including DAI
In a slew of additions and developments, and not unexpectedly, Coinbase has added four more Ethereum tokens. Dai (DAI), Golem (GNT), Maker (MKR), and Zilliqa (ZIL) will be added to the Coinbase Professional platform but with some regional restrictions.
GNT and DAI will be available in the US, but not New York, in the UK, the EU, Canada, Singapore, and Australia. MKR and ZIL will be added to Coinbase Pro in the UK, EU, Canada, Singapore, and Australia only. As per previous Coinbase announcements, these jurisdictions could be extended at a later date and a roll out for the main coinbase.com platform and mobile applications could also be added later.
DAI, MKR, and ZIL are ERC20 coins and GNT is Ethereum-based but not officially an ERC20. Coinbase qualifies this as part of its promise to continue to add new ERC20 tokens to its trading platform.
Smart Contract Functionality Not Yet Available
The associated smart contract functionality of each of the new tokens will not be available “immediately” through Coinbase Pro, says the press release and:
As a result, users who want to engage in MKR governance, use their GNT tokens to submit rendering tasks to the Golem beta network, utilize functionality like Compound, or exit DAI positions in the event of global settlement will need to move their assets from Coinbase Pro to a local wallet.
Inbound transfers of the four tokens will be accepted to the platform “at some point” after 11.45am Pacific time (PT) on December 18. Upwards of 12 hours afterward trading of the coins will be enabled once liquidity has been established and will begin with a USDC pair. Tweets for each coin and stage will be issued via the Coinbase Pro Twitter account.
Inbound transfers for DAI, GNT, MKR, and ZIL are now available in the regions where trading is supported. Traders cannot yet place orders and no orders will be filled. Order books will be in transfer-only mode for a minimum of 12 hours. https://t.co/Ov3BtA1BWE
— Coinbase Pro (@CoinbasePro) December 18, 2018
Community response has been mixed with many on Twitter asking for Ripple (XRP) and Stellar (XLM) to be added next and another Twitter user saying:
Please don’t add $waves would like the rise to continue. thanks.
The WAVES coin is currently experiencing a massive, considering the current market, and sustained price hike with a 35% increase still showing for the last 24 hours.
Coinbase is considering other tokens, ERC20 and otherwise, on a case by case basis. It added Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) on December 7, 2018, and is reportedly exploring support for Ripple’s XRP.
Featured image from Shutterstock.
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