Starting Today, you can transfer MATIC, SKL and SUSHI into your Coinbase Pro account ahead of trading. Support for MATIC, SKL and SUSHI will be available in all Coinbase’s supported jurisdictions, with the exception of SUSHI which will not be supported in New York State. Trading will begin on or after 9AM Pacific Time (PT) Thursday March 11, if liquidity conditions are met.
Once sufficient supply of MATIC, SKL and SUSHI is established on the platform, trading on MATIC-USD, MATIC-BTC, MATIC-EUR, MATIC-GBP, SKL-USD, SKL-BTC, SKL-EUR, SKL-GBP, SUSHI-USD, SUSHI-BTC, SUSHI-ETH , SUSHI-EUR, and SUSHI-GBP, order books will launch in three phases, post-only, limit-only and full trading. If at any point one of the new order books does not meet the assessment for a healthy and orderly market, Coinbase may keep the book in one state for a longer period of time or suspend trading as per their Trading Rules.
What is SUSHI?
Is an Ethereum token that powers SushiSwap, a decentralized cryptocurrency exchange and automated market maker built on Ethereum. Holders of SUSHI can participate in community governance and stake their tokens to receive a portion of SushiSwap’s transaction fees.
What is MATIC?
Is an Ethereum token that powers the Polygon Network, a multichain scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon bridge smart contract, interact with them within Polygon sidechain, and then later withdraw them back to the Ethereum main chain, if need be. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.
What is SKL?
Is an Ethereum token that powers SKALE, which describes itself as “an Ethereum-compatible network with a leaderless consensus designed to run on an uncapped number of independent nodes.” Nodes on the Skale Network provide resources to multiple decentralized elastic blockchains. The SKL token grants a right to participate as a network validator, stake as a delegator, or access a share of the network’s resources as a developer.
Please note Coinbase Ventures owns MATIC tokens as a result of a 2019 investment in Matic. Coinbase Ventures intends to maintain its investment in Matic for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including MATIC tokens.
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