Coinbase today announced that it is mulling the addition of 19 new digital assets that include Ampleforth (AMPL), Band Protocol (BAND), and Kava (KAVA), among others.
Coinbase Continues to Explore the Addition of New Digital Assets
Major US crypto exchange Coinbase today announced that it is “exploring the addition of a range of digital assets.” Specifically, the exchange stated that it seeks to offer support to digital assets that meet its technical standards and are compliant with the applicable laws.
The exchange eventually wants to offer its customers seamless access to close to 90% of the aggregate market cap of all digital assets in circulation, the announcement reads.
Coinbase evaluates the digital assets against what it calls a “Digital Asset Framework” to assess for factors such as security, compliance, and the project’s alignment with its vision to foster an open financial system for the world.
Digital Assets Being Considered
A total of 19 digital assets are being considered for listing on the exchange. These are, namely, Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
To give background on some of the aforementioned digital assets, Ampleforth (AMPL) calls itself “an adaptive money built on sound economics.”
For the past few weeks, AMPL has been all the rage in the crypto landscape because of its unique tokenomics that changes the supply of circulating tokens daily according to the market demand.
This mechanism, called “rebase,” essentially airdrops or burns AMPL tokens held in digital wallets if the protocol algorithm considers the token supply to be excessive or scarce, respectively. The aim is to develop a market equilibrium-based stablecoin.
Similarly, Band Protocol (BAND) has emerged as one of the best performing digital assets in 2020. Band describes itself as a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts.
As reported by BTCManager, South Korea’s largest blockchain network, ICON, had partnered with Band to integrate the latter’s cross-chain oracles into its ecosystem.
That said, the announcement by Coinbase should only be taken at face value as there is no guarantee the exchange will list all the 19 digital assets. The timeline for potential listings remains unclear too and can very well stretch for long periods.