Courtesy: https://www.coinbase.com/
- Coinbase announces 45 ERC-20 tokens on the Ethereum network and 5 SPL tokens on the Solana network under consideration for listing.
- According to Coinbase, transfers or trading of any of these assets are not supported until they are officially announced.
Coinbase, the biggest crypto exchange in the US, has re-emphasized its effort to facilitate a fair and transparent experience for its users. In a statement, the company disclosed that its listing procedures are not interfered with or influenced by third parties.
Coinbase Ventures has never sold tokens from investments that it has made, and is staffed by a separate team with no influence over which assets may be supported on Coinbase platforms.
It further disclosed that it will continuously update its users on assets under consideration for listing in Q2 2022 (April 1st, 2022 to June 30th, 2022) as part of the effort to increase transparency. Truly, it has updated its blog with 45 ERC-20 tokens on the Ethereum network and 5 SPL tokens on the Solana network being considered for listing.
The ERC-tokens under consideration include Aleph.im (ALEPH), DappRadar (RADAR), DFX Finance (DFX), Gemini USD (GUSD), Honey (HNY), Polkamon (PMON), StackOS (STACK), and SwftCoin (SWFTC). Also, the SPL tokens under consideration are Apricot Finance (APT), Bitspawn (SPWN), Green Satoshi Token (GST), Media Network (MEDIA), and Realy (REAL).
According to Coinbase, transfers or trading of any of these assets are not supported until they are officially announced.
Depositing these assets into your Coinbase account before an official announcement may lead to permanent loss of funds.
Coinbase explains the minimum standard for token listing
Coinbase earlier this year clarified that it seeks to ensure that all assets that meet their standard for legal, compliance, and technical security are listed. It further stated that its standard does not include the market cap and popularity of the digital assets. In this case, any popular assets that have not been listed do not meet their minimum listing standard, require technical integration work, and also do not have enough information.
For now, only three types of assets are supported for trading on the platform which are ERC-20 tokens on the Ethereum network, SPL tokens on the Solana network, and native assets on their network. Also, Coinbase seeks to introduce additional information on assets including higher-price swings and increased order cancellations. This will apply to newly created and less popular assets.
Our goal is to be as transparent as possible with our customers regarding trading risks, so we are introducing a new experimental label on asset pages and a disclosure when executing trades for some assets. Customers will now begin noticing this label and other transparency initiatives across Coinbase today.
Since its inception in 2012, Coinbase has come a long way with over 150 tradable assets, and its transparency and newly introduced features are expected to provide enough information for users to minimize risk while trading their favorite cryptos.