The U.S. crypto-currency exchange Coinbase Pro announced the listing of COMP, the token that drives the decentralized lending protocol of Compound.
According to an announcement on Thursday, COMP trading will begin on June 23rd at 9am Pacific Time if liquidity requirements are met. In addition, users will be able to deposit their COMP tokens during the hours of the day before trading begins.
The Compound cryptomoney lending platform will begin distributing tokens
Trade will start progressively
After a sufficient, and unspecified, supply of COMP tokens arrives in Coinbase Pro, the exchange will progressively implement the commercial functionality for the tokens. There will be two trading pairs, including the token in question, namely the COMP/Bitcoin (BTC) and COMP/USD pairs.
No matter what Coinbase does, Big Brother is already looking at your currencies
Initially, the pairs will be available in publication-only modes. Limit orders will be allowed at some point in the future. Once the company’s expectations for what constitutes a healthy market are met by the pairs, full trading will begin with the market, stop and limit orders.
Compound is a decentralized finance protocol based on Ethereum that allows its users to borrow tokens or deposit them in exchange for interest. The announcement states that „COMP is not yet available on Coinbase.com,“ possibly implying that Coinbase’s popular retail cryptomoney exchange will also include the token.