The wait is over: on August 10th, Band Protocol (BAND) will land on the Coinbase Pro platform.
Mon, Aug 10, our BAND-USD, BAND-BTC, BAND-EUR & BAND-GBP order books will enter transfer-only mode, accepting inbound transfers of BAND in supported regions. Orders cannot be placed or filled. Trading will begin on/after 9AM PT the following day, if liquidity conditions are met.
— Coinbase Exchange 🛡️📞 (@CoinbaseExch) August 5, 2020
Before delving into the news, we have to focus on what Band Protocol is. It is an unknown project to most but one that is recording impressive numbers. It currently occupies position 66 on CoinMarketCap and is trading at almost $7.5.
Specifically, the BandChain blockchain aims to be a cross-chain for decentralized oracles, thus to obtain reliable data from the outside world and use the APIs for smart contracts.
This blockchain is based on the PoS (Proof of Stake) protocol which makes it extremely fast compared to centralized counterparts: we are talking about a delay of just 6 seconds from when the data is interrogated to when the output is provided.
Band Protocol on Coinbase Pro
The token is an ERC-20 and Coinbase Pro will provide trading support for the BAND-USD, BAND-BTC, BAND-EUR and BAND-GBP pairs, so both crypto-crypto and crypto-fiat.
This listing only concerns Coinbase Pro and not Coinbase for the moment, although everything may change at any given time, which means we may find it listed on Coinbase soon.
This is just one of the 19 tokens that Coinbase is exploring and will soon be on the platform: the other 18 candidates are, Ampleforth, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, THETA, UMA, and WBTC.
Coinbase is exploring the addition of 19 new digital assets, some are live, some are not. We will evaluate each against our Digital Asset Framework. It’s our goal to offer support for all assets that meet our standards and are compliant with local law. https://t.co/A97VRhCc5T
— Coinbase Exchange 🛡️📞 (@CoinbaseExch) July 31, 2020
Most of the tokens that may be listed are related to decentralized finance (DeFi), a clear indication that major players are trying to bridge the gap between these projects and users by making them easily available on centralized exchanges.
Now all that remains is to wait until next week to be able to buy Band Protocol thanks to the listing on Coinbase Pro.
