Coinbase has officially added Graph (GRT) token to the supported assets on the exchange’s professional trading platform, Coinbase Pro, as part of its latest order book expansion.
The Ethereum-based token powers The Graph, a blockchain data company providing services for some of DeFi’s most popular apps.
While many cryptocurrencies and digital tokens waited months, years even, for a Coinbase listing, GRTs are listed just a few weeks after it raised $12 million in a token sale that sold out in just over 24 hours.
The Graph seeks to be the decentralized infrastructure of Web3, easing users access to blockchain data through more familiar database interface languages like SQL. The data-indexing protocol helps popular DeFi applications, such as Uniswap and Synthetix, in setting interest rates on loans and customer deposits.
“Just as Google indexes the web, The Graph indexes blockchain data from networks like Ethereum and Filecoin. This data is grouped into open APIs called subgraphs that anyone can query,” the popular US exchange said.
Coinbase Pro Relaunches Margin Trading
In a blog post, Coinbase revealed the launch would take place in four vital stages including transfer-only, post-only, limit-only and the final stage full-trading mode. Coinbase will post tweets announcing the stages separately.
Starting immediately, Coinbase will begin accepting inbound transfers of GRT and will open trading later today, if liquidity conditions are met. The exchange points out that the new coin will be accessible for users in most jurisdictions but will not initially be available for residents of the state of New York.
Coinbase has recently re-launched its Margin Trading service on the exchange’s professional trading platform. Although, Eligible traders can trade up to 3X leveraged orders on USD-quoted books, which allows users to amplify their trading results through borrowing money.
Now, users in 23 US states have the ability to borrow cryptocurrencies, depositing their own digital assets as collateral. But, if their losses exceed the value of their collateral, their positions are automatically liquidated.
This feature is geared toward both individual and institutional traders. That is because Coinbase has launched the feature attempting to fit within the boundaries of both regulations and risk considerations.