Project unknown to many but strong behind the scenes in the crypto world manages listing in four pairs that will be available soon on Coinbase Pro.
The wait is over: on August 10th, the Band Protocol (BAND) will arrive on the Coinbase Pro platform.
Mon, Aug 10, our BAND-USD, BAND-BTC, BAND-EUR & BAND-GBP order books will enter transfer-only mode, accepting inbound transfers of BAND in supported regions. Orders cannot be placed or filled. Trading will begin on / after 9AM PT the following day, if liquidity conditions are met.
– Coinbase Pro (@CoinbasePro) August 5, 2020
On Monday, August 10, our order books in the BAND / USD, BAND / BTC, BAND / EUR and BAND / GBP pairs will enter “transfer only” mode, accepting BAND deposits in supported regions. Orders cannot be placed or executed. The trade will be released after 9AM PT the next day, if some liquidity conditions are met.
Before delving into the news, we need to focus on what the Band Protocol is. This is a project unknown to most, but it has recorded impressive numbers. She currently occupies position 66 at CoinMarketCap and is worth around $ 7.5.
Specifically, the BandChain blockchain aims to be a cross-chain for decentralized oracles, so as to obtain reliable data from the outside world and use the APIs for smart contracts.
This blockchain is based on the PoS (Proof of Stake) protocol, which is very fast compared to some centralized competitors. We are talking about a delay of only 6 seconds between the moment the information is interrogated until when the output is provided.
Band Protocol at Coinbase Pro
The token is an ERC-20 project and Coinbase Pro will provide trading support for BAND / USD, BAND / BTC, BAND / EUR and BAND / GBP pairs, so we will have both crypto-crypto and crypto-fiat pairs.
This listing only concerns Coinbase Pro for now and not Coinbase, although everything can still change.
This is just one of the 19 tokens that Coinbase is researching and that will soon be on the platform: the other 18 candidates are, Ampleforth, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol , Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA and WBTC.
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Coinbase is exploring the addition of 19 new digital assets, some are live, some are not. We will evaluate each against our Digital Asset Framework. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/A97VRhCc5T
– Coinbase Pro (@CoinbasePro) July 31, 2020
Coinbase is considering adding 19 new digital assets. Some are alive, others are not. We will evaluate each one of them using our framework specific to that. It is our goal to provide support for all assets that meet our standards and comply with local regulations.
Most of the tokens that can be listed are related to decentralized finance (DeFi), a clear indicator that large players are trying to fill the gap between these projects and users by making these assets easily available on centralized exchanges.
Now, all that remains is to wait until next week to be able to buy Band Protocol thanks to the listing on Coinbase Pro.