Coinbase Pro Adds EOS, Maker (MKR), and Augur (REP)
Coinbase, San Francisco-based cryptocurrency exchange, has added EOS (EOS), Maker (MKR), and Augur (REP) to its professional trading platform, Coinbase Pro.
Of these three, EOS is a blockchain protocol that allows parallel leveling of decentralized applications helping developers to create high performance distributed applications efficiently. While Maker (MKR) is a decentralized autonomous organization that operates on Ethereum blockchain; and aims to reduce the price volatility of its stable token—Dai—against the IMF’s international currency basket SDR. Last but not the least, Augur (REP) is a decentralized oracle and peer-to-peer protocol for prediction markets, and Reputation (REP) is a cryptocurrency, used by reporters during market dispute phases of Augur.
Coinbase has planned to add support for these new listings in four stages.
1. Transfer-only wherein customers can transfer EOS, REP, and MKR into their Coinbase Pro accounts. Currently, customers will not yet be able to place orders; thus no orders will be listed on these order books. Order books will be in ‘transfer-only’ mode for a minimum of12 hours.
2. Post-only wherein customers can post limit orders, but no matches will be available. Order books will be in ‘post-only’ mode for a minimum of one minute.
3. Limit-only – In this mode, limit orders will be evenly matched, but customers will not be able to submit market orders. Order books will be in ‘limit-only’ mode for a minimum of ten minutes.
4. Full trading is the last stage wherein customer can avail all trading services including limit, market, and stop orders.
According to the announcement, customers now have an option to deposit the tokens with EOS and Augur’s REP. These virtual coins are available in every jurisdiction that Coinbase Pro serves, except New York State; however MKR can be bought in all jurisdictions outside the U.S. Moreover, EOS and REP both have dollar, euro, and bitcoin trading pairs while MKR can only be purchased using bitcoin or USDC.
This announcement comes after recent asset listings on Coinbase, especially other altcoins including XRP, Stellar Lumens, and Zcash. In May 2018, Coinbase rebranded its professional trading experience to Coinbase Pro with new features like easy withdrawal and deposit features, a new chart system, and access to consolidated portfolio view.
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