Introduction
Coinbase Pro, the professional trading platform of the US-listed cryptocurrency exchange Coinbase, has announced the upcoming listing of five new tokens: ALCX, ENS, GALA, MUSD, and POWR. This follows recent additions like CRO, KRL, LCX, SUKU, TRAC, ASM, ARPA, PERP, Badger DAO, RARI, and AVAX.
Key Details:
- Deposits Open: Starting November 15 (UTC), users can transfer ALCX, ENS, GALA, MUSD, and POWR to Coinbase Pro accounts in supported regions.
- Trading Launch: If liquidity conditions are met, trading will begin on November 17 at 1:00 AM UTC.
Trading Pairs and Phases
Once sufficient supply is established, the following trading pairs will be rolled out in stages:
- ALCX: USD, USDT, EUR
- ENS: USD, USDT, EUR
- GALA: USD, USDT, EUR
- MUSD: USD, USDT, EUR
- POWR: USD, USDT, EUR
Listing Process:
- Auction Phase: Initial price discovery.
- Limit-Only Phase: Orders restricted to limit bids/asks.
- Full Trading: Market orders enabled.
👉 Explore Coinbase Pro’s latest listings for real-time updates.
New Token Overview
1. Alchemix (ALCX)
- Purpose: Native token of Alchemix Finance, enabling self-repaying loans via yield-generating collateral.
- Utility: Governance (proposals/voting) and protocol incentives.
2. Ethereum Name Service (ENS)
- Purpose: ENS governance token for decentralized domain management on Ethereum.
- Utility: Voting on protocol upgrades and domain policies.
3. Gala (GALA)
- Purpose: Powers Gala Games, a blockchain gaming ecosystem.
- Utility: In-game purchases and peer-to-peer transactions.
4. mStable USD (MUSD)
- Type: Decentralized Ethereum-based stablecoin.
- Value: Pegged to ~$1.00 via algorithmic mechanisms.
5. Power Ledger (POWR)
- Purpose: Facilitates peer-to-peer renewable energy trading.
- Utility: Platform access and transaction fees.
FAQs
Q1: When will trading begin for ENS on Coinbase Pro?
A: Trading starts on November 17 at 1:00 AM UTC, pending liquidity conditions.
Q2: Which fiat pairs are available for GALA?
A: GALA trading pairs include USD, USDT, and EUR.
Q3: What is MUSD’s stability mechanism?
A: MUSD maintains its peg via decentralized collateral and arbitrage incentives.
👉 Stay updated on Coinbase Pro listings for future announcements.
Conclusion
Coinbase Pro continues to expand its asset offerings, providing traders with access to innovative tokens like ENS, ALCX, and POWR. Ensure your accounts are ready for deposits and monitor official channels for phase transitions.
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