Coinbase Adds Support for Ethereum Tokens Ankr (ANKR), Curve DAO Token (CRV), Storj (STORJ)

Digital asset marketplace Coinbase recently added several cryptocurrencies including Ankr (ANKR), Curve DAO Token (CRV), and Storj (STORJ) to Coinbase Pro, the platform for professional traders.

Coinbase confirmed earlier this week that beginning on Tuesday (March 23, 2021), platform users will be able to transfer ANKR, CRV and STORJ tokens into their Coinbase Pro accounts – which would be ahead of anticipated or scheduled trading.

Coinbase also noted that support for ANKR, CRV and STORJ will be offered in “all Coinbase’s supported jurisdictions” (but CRV token trading won’t be offered in New York State, presumably due to regulatory restrictions). Trading will “begin on or after 9AM Pacific Time (PT) Thursday March 25, if liquidity conditions are met,” Coinbase noted.

Coinbase pointed out that one of the “most common” requests they get from clients is to be able to trade more digital assets via their platform. Per the terms of the company’s listing process and guidelines, they are planning to support trading in more assets that meet their standards (in the foreseeable future).

Recently Coinbase added trading support for Cardano (ADA). The exchange also supports trading with SushiSwap (SUSHI), Polygon (MATIC), SKALE (SKL), The Graph (GRT), Aave, (AAVE), Bancor (BNT), Synthetix (SNX), Filecoin (FIL), NuCypher (NU), Wrapped Bitcoin (WBTC), Balancer (BAL), Ren (REN), and Uniswap (UNI).

(Note: for more details on the other tokens supported by Coinbase, check here.)

Effective immediately (as of March 23), Coinbase will take inbound transfers of ANKR, CRV and STORJ to Coinbase Pro. Trading will “begin on or after 9AM Pacific Time (PT) Thursday March 25, if liquidity conditions are met.”

After sufficient supply of ANKR, CRV and STORJ is “established on the platform, trading on our ANKR-USD, ANKR-BTC, ANKR-EUR, ANKR-GBP, CRV-USD, CRV-BTC, CRV-EUR, CRV-GBP, STORJ-USD and STORJ-BTC, order books will launch in three phases, post-only, limit-only and full trading.”

Ankr (ANKR) is an Ethereum token that’s used to power transactions on Ankr, a distributed computing platform that “aims to make it easy and affordable for developers to deploy and use a variety of blockchains.” The ANKR token can be “used to pay for services on Ankr, such as node deployment, and also acts as an incentive for network participants,” Coinbase noted.

Storj (STORJ) is an Ethereum token that’s used to power transactions or activity on a “decentralized” Cloud storage network known as Tardigrade. When a user uploads a file to Tardigrade, “pieces of each file are distributed to a global network of independent nodes,” Coinbase explained. It also mentioned that “when someone requests the file, it is then recompiled securely and made available for download,” which “means that anyone can store files on Tardigrade without having to trust a centralized data center.”

Users may earn STORJ tokens in exchange for offering resources to the network, which can include “unused hard drive space and bandwidth.”

Curve DAO Token (CRV) is an Ethereum token that’s used to power transactions on Curve.fi, a decentralized or non-custodial exchange and automated market maker (AMM) protocol. The protocol is “designed to make it easy to swap between similar ERC-20 tokens, primarily stablecoins (like USDC and DAI) and Ethereum-based Bitcoin tokens (like WBTC and renBTC),” Coinbase noted.

The digital assets marketplace provider also mentioned that “in order to minimize impermanent loss, the protocol only hosts pools of similar assets,” which “means you can provide USDC-DAI-USDT liquidity on Curve, but not, for example, USDC-WBTC.”

The CRV token may be locked “for various periods of time (up to 4 years) in order to vote on governance and claim protocol fees as a reward.”

On March 26, 2021, Coinbase announced that it now also supports Ankr (ANKR), Curve DAO Token (CRV) and Storj (STORJ) at Coinbase.com and in the Coinbase Android and iOS apps.

(Note: CRV trading is not supported in New York State.)

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