San Francisco-based Coinbase Pro, confirmed that it will soon be adding Tezos (XTZ) blockchain to its trading platform. Tezos is a platform for cryptocurrency and decentralized computing. It was introduced officially in September 2018. Coinbase Pro to Launch Tezos Trading.
Its features include:
- proof of stake consensus
- formal verification
- the ability to let stakeholders vote on changes to the protocol
Coinbase Pro to Launch Tezos Trading. In March, when Tezos was added to another Coinbase affiliate, Coinbase Custody, the move was challenged by those who opposed the extension of voting privileges to custodial token holders.
On Monday, August 5, the company began accepting inbound transfers of XTZ to Coinbase Pro, which was at least 12 hours in advance of launch.
Coinbase Pro must create coin reserves in trading pairs with BTC and USD before trading is enabled.
“Once sufficient supply of XTZ is established on the platform, trading on the XTZ/USD, and XTZ/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met,” the company states.
Coinbase plans to move through four phases before tezos’ functionality is fully operational.
The first is “Transfer-only”; customers will be able to transfer XTZ into their Coinbase Pro account. Later, it will enter into the “Post only” phase, where customers can post limit orders, but there will be no matches. The third is “Limit-only” in which “limit orders will start matching, but customers are unable to submit market orders.”
In the final stage, full trading services will be available, including limit, market, and stop orders.
Tezos held a $232 million initial coin offering (ICO) in 2017, one of the largest funding rounds of all time.