Coinbase Pro reported last Tuesday, June 8, through its Twitter account, that inbound transfers for GTC, MLN and AMP are now available in regions where trading is supported. According to the company, operations will begin at 9 a.m. M. PT on Thursday, June 10, if the liquidity conditions are met.
“Starting today Tuesday, June 8, transfer GTC, MLN, and AMP to your Coinbase Pro account prior to trading. Support for GTC, MLN, and AMP will generally be available in Coinbase-supported jurisdictions, except for GTC in New York. GTC, MLN and AMP will not be supported in Singapore. Operations will begin at 9 a.m., Pacific time (PT), on Thursday, June 10, if the liquidity conditions are met”, he said through an article published on the Medium platform.
The company explained that one of the most common requests they receive from clients is to be able to trade more assets on their platform. Based on the terms of their listing process, they anticipate backing more assets that meet their standards over time.
While ensuring that they will begin accepting incoming transfers from GTC, MLN and AMP to Coinbase Pro. Operations will begin at 9 am Pacific Time (PT) on Thursday, June 10, if the conditions of liquidity. So once a sufficient supply of GTC, MLN and AMP have been established on the platform, trading on your GTC-USD, MLN-USD and AMP-USD order books will be launched in three phases, post only, only limit and full negotiation.
“If at any time one of the new order books does not meet our assessment of a healthy and orderly market, we may keep the book in a state for a longer period of time or suspend trading in accordance with our Trading Rules“, added.
Details of the new tokens supported
The company shared the details about the three tokens supported on the platform:
Gitcoin (GTC) is an Ethereum token that enables community governance of the Gitcoin platform. The platform is designed to fund and coordinate open-source development by novel means, such as quadratic funding. As of June 2021, Gitcoin has facilitated more than $21 million in grants and rewards for open-source developers.
MLN is an Ethereum token that powers Enzyme (formerly known as Melon Protocol), a protocol that aims to facilitate on-chain asset management for the DeFi ecosystem. MLN allows users to create, share and explore DeFi investment strategies (called “vaults”) while filtering by historical performance and risk profiles. MLN is used to pay for various features throughout the vault creation process and investment life cycle.
Amp is an Ethereum token that aims to “guarantee payments on the Flexa Network, making them instant and secure”. If a BTC or ETH payment fails due to long or unconfirmed transaction times, “Amp’s guarantee can be settled to cover losses” while the provider receives the payment in fiduciary form, potentially providing greater guarantees to both parties.
It should be noted that GTC, MLN, and AMP are not yet available on Coinbase.com or through our consumer mobile apps. According to the company, they will make a separate announcement when this support is added.