Prime US crypto alternate Coinbase is itemizing one Ethereum (ETH) restaking protocol undertaking for pre-launch buying and selling.
In a brand new announcement, Coinbase says that EigenLayer (EIGEN) is now obtainable for buying and selling forward of its official launch on the platform’s Worldwide Trade and Coinbase Superior for customers in eligible jurisdictions outdoors of the US, UK, and Canada.
Says Coinbase,
“Now you can commerce EIGEN-PERP with as much as 2x leverage. EIGEN opens with a value of $7.307 and an Implied FDV (totally diluted valuation ) of $12.2 billion.”
EigenLayer permits ETH holders to re-stake their tokens to be used as “cryptoeconomic safety” for protocols apart from Ethereum, in alternate for protocol charges and rewards, based on EigenLayer’s web site.
Pre-launch buying and selling on Coinbase is a newly added characteristic.
Says Coinbase,
“Pre-launch markets enable customers to commerce perpetual futures contracts on tokens that haven’t launched but. When the underlying token is launched on relevant spot exchanges, the instrument converts to a typical perpetual contract. Pre-launch markets on Coinbase enable customers to take part in value discovery for upcoming tasks on a trusted and safe platform.”
Coinbase additionally warns there are increased dangers when buying and selling the pre-launch digital belongings.
“Pre-launch markets considerably differ from normal perpetual futures markets, carrying distinctive concerns and posing elevated dangers. It’s essential to train warning and chorus from buying and selling contracts that you’re unfamiliar with or don’t totally perceive the related dangers.”
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