Coinbase Pro Rolled Out Support For Compound’s DeFi Token COMP

By Katelyn James | June 20, 2020

Crypto exchange platform Coinbase Pro from the US has reportedly disclosed the support for COMP – the token used for operating the decentralized lending protocol Compound.

Specifically, COMP trading will reportedly be available beginning June 23 at 9 a.m Pacific Time, should all requirements, liquidity-wise, are satisfied. 

Additionally, COMP tokens depositing feature will reportedly be rolled out to the users, day hours prior to the planned starting date for trading acitivties. 

Following a sufficient but with little details supply of COMP tokens that have been listed on Coinbase Pro, the platform will move on with its plan to release trading feature for the token, with the COMP/Bitcoin (BTC) and COMP/U.S. dollar are reportedly two available pairs. 

Previously, the pairs were reportedly planned to be rolled out in post-only modes, with limit orders will be available later. As soon as the pairs satisfy Coinbase Pro’s target for the constitution of a healthy market, full trading with the market, stop and limit orders will reportedly begin. 

Compound reportedly functions as an Ether-based decentralized finance protocol, which enables tokens depositing and borrowing, in exchange for interest.

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