Coinbase now supports trading Ren (REN) and Balancer (BAL)

By New Age Wealth | New Age Wealth | 7 Oct 2020

Coinbase has been living up to its word when it comes to adding trading support of more assets on its platform. Coinbase has plans to continue the listing of at least 90% of digital assets in circulation, but only after meeting the listing criteria.

"We are continuing to explore the addition of new assets for customers around the world." 

We've recently seen trading support added for many assets such as (YFI), Uniswap (UNI), Loopring (LRC), UMA (UMA), Celo (CGLD), as well as others on the growing list. Digital assets currently under review for support can be found here.

Ren and Balancer are the newest additions to be listed on the Coinbase exchange.

What is Ren?


Ren (formerly known as Rebublic Protocol) is an Etheruem ERC20 token that powers Ren's open-source protocol providing inter-blockchain liquidity for decentralized applications. Simply put Ren aims to make it possible to transfer digital assets between different blockchain networks. This allows investor's major digital assets like Bitcoin and Zcash to participate in a multi-chain decentralized finance ecosystem.

What is Balancer?


Balancer is an Ethereum ERC-20 token that powers the Balancer protocol, an automated market maker (AMM) that allows users to create or add liquidity a various trading pools while earning customizable trading fees. Balancer pools may have up to 8 tokens with each token getting individually weighted within the pool, such that is is possible for one token to make up as little as 2% of the total. Balancer has 3 types of pools:

  • Private pools: The pool creator has full permission over the pool and is the only one that can provide liquidity.
  • Shared pools: The pool creator has no special privileges. Anyone can add liquidity to shared pools. The pool's tokens, weight, and fees are permanently set. Ownership of the pool's liquidity is tracked with Balancer Pool Token (BPT). 
  • Smart pools: Variation of a private pool where the controller is a smart contract. Smart pools may accept liquidity from anyone. BPT's are issued to track ownership.

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