Crypto exchange Kraken has announced that Tezos (XTZ) will be listed on its platform and trading in Tezos will begin today - Tuesday, October 16 2018. The inclusion of Tezos (XTZ) is a development which underlines the growing influence of Tezos which once held the record for most money raised in an ICO before suffering a difficult period punctuated by infighting earlier this year.
Kraken’s Reasons For Listing XTZ
In the statement, Kraken praised Tezos as arguably the world’s first self-evolving blockchain with the potential to grow trade volumes on its platform. Specifically, it listed three exciting features of Tezos that informed the decision to list the token. These are:
(1) “Liquid Proof-of-Stake” consensus – there is a relatively low barrier to consensus participation and delegation is not required. (2) Smart contract verification – Tezos invented the Michelson programming language that allows formal proofs of contract properties for better contract security. (3) On-chain governance – all aspects of governance are contained in the platform: voting on proposed protocol upgrades, paying developers and implementing the upgrades.
Kraken mentioned in the announcement that sell orders are expected to kick in after the first XTZ deposits, which will be 30 minutes after launch. It also stated that several estimated launch times will be deployed globally, with none of these times cast in stone. After the launch, Kraken customers will be able to trade XTZ on both https://www.kraken.com and the new platform at https://trade.kraken.com
Kraken’s Asset Listing Plans
Kraken further revealed that it plans to keep on adding more assets to its platform in the future without giving a hint as to what assets may currently be under consideration. Currently Kraken lists a wide selection of the most popular digital assets including bitcoin, ethereum, litecoin, bitcoin cash and Tether, with several crypto-crypto, crypto-fiat and fiat-crypto trading pairs.
In keeping with its usual listing policy, the announcement finally mentions that the listing on XTZ on the Kraken platform does not constitute an investment endorsement of the token by Kraken. Investors as always, are advised to do their own due diligence and research before putting money into any asset.