Earlier this year we announced our intention to support the ERC20 technical standard across Coinbase. Following our recent launches of 0x (ZRX), Basic Attention Token (BAT), and our stablecoin, USDC (USD Coin) — all of which are built on Ethereum’s ERC20 standard — we’re now announcing support for Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA), on Coinbase Pro.
We recognize that there are popular assets that we have not yet added to our platform. Our decision to add ERC20 tokens first is based on the relative ease of integrating the standard with our existing infrastructure, particularly from a security standpoint. However, as noted in our earlier post, we are exploring the addition of many new assets beyond ERC20 tokens on a jurisdiction-by-jurisdiction basis.
CVC, DNT, LOOM, and MANA are launching on Coinbase Pro
Later today I̵n̵ ̵t̵h̵e̵ ̵n̵e̵x̵t̵ ̵3̵0̵ ̵m̵i̵n̵u̵t̵e̵s̵, we will begin accepting inbound transfers of CVC, DNT, LOOM, and MANA on Coinbase Pro. We will accept deposits for at least 48 hours prior to enabling trading. Once sufficient liquidity is established, trading will begin on each respective USDC order book. Trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, European Union, Canada, Singapore and Australia. Additional jurisdictions may be added at a later date.
Please also note that these assets are not yet available on Coinbase.com or via our mobile apps. We will make a separate announcement if that occurs.
The Stages of this Launch
There will be four stages to the launch as outlined below. We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep that particular book in one state for a longer period of time, or suspend trading as per our Trading Rules.
We will send tweets from our Coinbase Pro Twitter account as each order book moves through the following phases:
- Transfer-only. Starting sometime later today i̵n̵ ̵t̵h̵e̵ ̵n̵e̵x̵t̵ ̵3̵0̵ ̵m̵i̵n̵u̵t̵e̵s̵, customers will be able to transfer CVC, DNT, LOOM, and MANA into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.
- Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute. This market state has been shortened to improve market health during launch.
- Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
- Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.
One of the most common requests we receive from customers is to be able to trade more assets on our platform. With the recent announcement of our new listing process, we anticipate listing more assets over time that meet our standards.
You can sign up for a Coinbase Pro account here to start trading.
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