Coinbase Pro now supports Chainlink (LINK) trading
Thu, 27 Jun 2019, 06:06 am UTC
Coinbase Pro will start accepting inbound transfers of LINK, the token that incentivizes the Chainlink decentralized network, for ether and dollar trading pairs.
The press release revealed that as soon as the platform has sufficient supply of LINK, the company will phase in trading options. It outlined four transition stages for each order book before LINK is fully integrated.
The Transfer-only phase started at 10 am PT on June 26, 2019, allowing customers to transfer LINK into their Coinbase Pro account. Customers cannot place orders yet, and no orders will be filled on these order books for at least 12 hours.
Post-only, which is the second stage, allows customers to post limit orders. However, there will be no matches or complete orders. Order books have a minimum allotted time of 1 minute to be in post-only mode.
The third phase is limit-only, in which limit orders will begin matching. However, customers cannot submit market orders, and the limit-only mode will last for a minimum of 10 minutes only.
Lastly, the full trading will offer full trading services, including limit, market, and stop orders.
The Chainlink decentralized oracle network allows smart contracts on Ethereum to connect external data sources, APIs, and payment systems securely.
Trading will only be available where Coinbase Pro has jurisdiction, with the exception of the state of New York. Currently, LINK is not available on Coinbase.com or the company’s mobile apps.
Coinbase Pro further said it plans to support more assets that will meet their standards over time.
Meanwhile, cryptocurrency firms Circle and Coinbase are joining forces to make money as easy to move around the world as internet data and content through their new Stablecoin Network called CENTRE, a membership-based framework that enables cryptocurrencies to function across multiple blockchains, including both public and private chains.
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