United States cryptocurrency trade Coinbase Professional introduced the itemizing of COMP, the token powering the decentralized lending protocol Compound.
In response to a Thursday announcement, COMP buying and selling will begin on June 23 at 9 a.m. Pacific Time if the liquidity necessities are met. Moreover, customers will be capable of deposit their COMP tokens the day hours earlier than the buying and selling exercise is scheduled to begin.
Buying and selling will begin progressively
After a ample — and unspecified — provide of COMP tokens make their technique to Coinbase Professional, the trade will progressively roll out buying and selling performance for the tokens. There will probably be two buying and selling pairs together with the token in query, specifically the COMP/Bitcoin (BTC) and COMP/U.S. greenback pairs.
Initially, the pairs will probably be out there in post-only modes. Restrict orders will probably be allowed someday thereafter. As soon as the agency’s expectations for what constitutes a wholesome market are met by the pairs, full buying and selling with the market, cease and restrict orders will begin.
Compound is an Ethereum-based decentralized finance protocol that permits its customers to borrow tokens or deposit them in trade for curiosity. The announcement notes that “COMP isn’t but out there on Coinbase.com” which presumably implies that Coinbase’s fashionable retail crypto trade will even listing the token.