New Ethereum-Based Altcoin Set for Imminent Launch Earns Big Boost From Coinbase

New Ethereum-Based Altcoin Set for Imminent Launch Earns Big Boost From Coinbase

Spread the love

Top US crypto exchange Coinbase has added a new token to its list of altcoins that may appear on its roster of tradable digital assets.

Announcing via Twitter, Coinbase says it’s adding Hashflow Token (HFT), the native token for decentralized exchange (DEX) Hashflow, to its roadmap.

Hashflow is built on the Ethereum (ETH) network and aims for interoperability, zero slippage and miner extractable value (MEV)-protected trades. While DEXes traditionally rely on automated market markers (AMMs) to enable on-demand trading of assets, Hashflow uses a request-for-quote (RFQ) model that allows for professional market makers to manage its liquidity pools.

At time of writing, HFT has yet to be launched. However, crypto exchange Huobi says it will list HFT on November 7th.

According to its website, Hashflow is backed by multiple industry heavyweights, including Jump Trading, Galaxy Digital, Alameda Research and Coinbase’s venture capital arm Coinbase Ventures.

Earlier this year, CEO Brian Armstrong said Coinbase aims to list as many crypto assets as possible, as long they meet the company’s standards.

“It’s kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, it’s probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are.”

Coinbase created the roadmap this year to increase transparency and reduce the possibility of frontrunning their listing announcements.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/vovidzha

Related News

og.-audio-app-winamp-adds-ethereum-and-polygon-music-nft-support-–-decrypt
apecoin-up-6%-as-holders-stake-$32m-in-ethereum-bored-ape-token-–-decrypt
coinbase-plunges-despite-bitcoin,-ethereum-holding-strong:-what's-going-on?-–-coinbase-global-(nasdaq:coin)