By
Bhushan Akolkar
April 24th, 2024
The announcement of Dash’s impending listing on Coinbase Pro comes slightly over a month after an announcement that the platform was exploring the addition of eight new digital assets.
Cryptocurrency exchange Coinbase Pro has announced that it will be adding DASH to the platform starting the next week.
In its announcement, the company wrote:
“On Monday September 16, 2019, we will begin accepting inbound transfers of DASH to Coinbase Pro. We will accept deposits for at least 12 hours prior to enabling full trading. Trading will begin on or after 9AM Pacific Standard Time on Tuesday, September 17, if liquidity conditions are met.”
Once that adequate supply of DASH is established on the platform, trading on the DASH/USD, and DASH/BTC order books will start in phases beginning with post-only mode and proceeding to full trading should the metrics for a healthy market be met, as per the announcement.
Support for DASH will straight away be obtainable in Coinbase’s assisted dominions, with the special cases of New York State and the United Kingdom. Auxiliary jurisdictions can be appended at a later date, just as usual when new coins are added by Coinbase.
DASH was created back in 2014 as a cryptocurrency that aimed to be optimized for payments and has optional speed and privacy features. However, at least for now, Coinbase will not be supporting these attributes. DASH is now a currency that is accepted at more than 4,000 merchants in the whole world. Its special formed network architecture consists of both regular miners and some privileged machines called Masternodes.
Through their off-chain community governance system, anyone can submit and vote on proposals in order to improve the ecosystem’s functionality, utility, and adoption.
From the company, they noted that DASH is still not available on Coinbase.com or through their consumer mobile apps. They said they will make a separate announcement if and when this functionality is added.
Be it as it may, from the company they said that there will be four stages to the launch. They explained they plan to follow each of these stages independently for each new order book.
They said:
“If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.”
Also, they obliged to send tweets from their Coinbase Pro Twitter account as each order book moves through the following phases:
- Transfer-only that starts on Monday, September 16. At this stage, traders will have a possibility to transfer DASH into their Coinbase Pro account.
- Post-only at which traders will be able to post limit orders.
- Limit-only when traders still won’t be able to place market orders.
- Full trading which a final stage.
Also, they answered one of the most common questions they have been receiving from their customers and that is the question of their possibility to trade more assets on their platform. They wrote that according to the terms of their listing process, they anticipate supporting more assets that meet their standards over time.