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

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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.

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Featured Image: Shutterstock/vovidzha

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