Coinbase Pro Adds EOS, REP, MKR for Most Jurisdictions

San Francisco-based digital asset exchange, Coinbase has announced that users on Coinbase Pro, a trading platform for professional crypto traders, will support EOS, Augur (REP), and MKR.

However, residents of New York will not be able to buy or sell EOS or REP tokens on Coinbase Pro, the American exchange operator announced on April 9th, 2019. Meanwhile, MKR will “be available in all Coinbase Pro-supported jurisdictions” located outside the US

According to an official blog post published by Coinbase, “additional regions” may be supported for EOS, MKR, and REP “at a later date.”

“After 12pm PT on Monday April 8, we will begin accepting inbound transfers” of EOS , REP, MKR on Coinbase Pro, the privately held crypto exchange noted. It added that deposits in these leading digital assets had been enabled for 12 hours (to ensure adequate liquidity) “prior to enabling trading.”

So far, the price of EOS in particular hasn't seen any major price movements following the announcement last night from Coinbase:

EOSUSD 09.04.19.png

No Fiat Trading Pairs For MKR Yet

The following trading pairs have now been enabled on Coinbase Pro:

  • “EOS-USD, EOS-EUR, EOS-BTC (all Coinbase-supported regions excluding NY),”
  • “REP-USD, REP-EUR, REP-BTC (all Coinbase-supported regions excluding NY),”
  • “MKR-BTC, MKR-USDC (all Coinbase-supported regions outside the US)”

Going on to clarify that EOS, REP, and MKR trading will not be accessible to users on Coinbase.com, the exchange’s blog also briefly explained how each cryptocurrency has been implemented and its main use cases.

Over 200 dApps Launched On EOS

EOS is one of the largest platforms for building enterprise-grade, decentralized applications (dApps). Although over 200 dApps have been launched on EOS, the blockchain-based network is still in its preliminary stages of development. It has experienced several security breaches since launch, but most of these hacks were not directly related to any technical issues or vulnerabilities with the EOS blockchain itself.

As mentioned on EOSIO’s official Github page, the platform offers:

  • “Free Rate Limited Transactions,”
  • “Low Latency Block confirmation (0.5 seconds),”
  • “Low-overhead Byzantine Fault Tolerant Finality,”
  • “Designed for optional high-overhead, low-latency BFT finality,”
  • “Smart contract platform powered by WebAssembly,”
  • “Designed for Sparse Header Light Client Validation,”
  • “Scheduled Recurring Transactions,”
  • “Time Delay Security,”
  • “Hierarchical Role Based Permissions,”
  • “Support for Biometric Hardware Secured Keys (e.g. Apple Secure Enclave),”
  • “Designed for Parallel Execution of Context Free Validation Logic,”
  • “Designed for Inter Blockchain Communication,”

Augur, A Leading Decentralized Prediction Market Platform

The REP token, which is the native cryptoasset of Augur, one of the world’s leading decentralized prediction market platforms, has been increasingly used to place bets on sporting events, the outcome of political elections, etc. However, Augur’s current implementation has critical issues because users have been able to exploit the platform by placing bets on impossible scenarios.

Despite Augur’s present version having these problems, Joey Krug, one of the project’s founders, revealed recently that Augur’s next release will fix these vulnerabilities. Moreover, there are many new projects that support the Augur protocol. Notably, the alpha version of the BlitzPredict betting exchange has been launched and it supports both Augur and the leading 0x protocol.

MKR, A Part Of $400 Million DeFi Platform

MKR is one of the crypto tokens that forms part of the MakerDAO ecosystem. Nearly $400 million has now been locked into Maker’s Ethereum-based contracts. The MakerDAO platform, which consists of the MKR token and also the Dai stablecoin, is currently the largest decentralized finance (DeFi) solution.