15 Nov, 2020

Adding Trading Support For Graph Token, Coinbase

Coinbase has officially added Graph tokens (GRT) to assets supported on the exchange’s professional trading platform, Coinbase Pro, as part of its recent order book extension.

The Ethereum-based token powers the Graph, a blockchain data company that provides services for some of DeFi’s most popular applications.

While many cryptocurrencies and digital tokens have waited months or even years to be listed on Coinbase, TSOs are listed only a few weeks after raising bucks 12 million in a token sale that sold out in just over 24 hours.

The graph is designed to be Web3’s decentralized infrastructure and facilitate user access to blockchain data through more familiar database interface languages, such as SQL. The data indexing protocol helps common DeFi applications such as Uniswap and Synthetix set interest rates for customer loans and deposits.

“Just as Google indexes the web, the graph indexes blockchain data from networks such as Ethereum and Filecoin. This data is grouped into open APIs called subgraphs, each of which can query,”the popular American exchange said.

Coinbase Pro Restarts Margin Trading

In a blog post, Coinbase revealed that the launch would take place in four key phases, including transfer only, post only, limit only and the final phase of the full trading mode. Coinbase will post tweets announcing the steps separately.

From now on, Coinbase accepts incoming transfers from TSOs and opens trading after today when liquidity conditions are met. The exchange says the new coin will be accessible to users in most countries, but will not initially be available to New York state residents.

Coinbase recently restarted its margin trading service on the exchange’s professional trading platform. However, eligible traders can trade up to 3x leveraged orders in books listed in USD, allowing users to increase their trading results by borrowing money.

Users in 23 US states can now borrow cryptocurrencies and deposit their own digital assets as collateral. However, if your losses exceed the value of your collateral, your positions will be automatically liquidated.

This function is aimed at both individual and institutional traders. This is because Coinbase has launched the feature that tries to adapt to the limits of regulation and risk considerations.

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *