Coinbase Will List Ethereum PoW Token if It Meets Listing Criteria
As long as it satisfies its listing requirements,
Coinbase has stated that it will list any future Ethereum proof-of-work token following the Merge.
In a tweet on August 25, the publicly listed exchange announced this and added that it is completely dedicated to helping the Ethereum network's transition to a proof-of-stake network. As per Coinbase, its "aim is to list every asset that is legal and safe to list."
Therefore, following the merge, the exchange will assess each ETH fork coin "on a case-by-case basis in conformity with our usual asset listing policy." Customers were further reassured that all prospective Ethereum forks would undergo the same listing review procedure as other assets on the exchange.
Recently, Coinbase announced the release of a utility token for its consumers dubbed Coinbase Wrapped Staked ETH (cbETH).
Ethereum deposits and withdrawals will stop at Coinbase.
Coinbase also revealed that it would halt deposits and withdrawals of ETH and ERC-20 tokens throughout the Merge. This, it claimed, is necessary to make sure that the transformation is reflected in its systems.
As soon as the tokens are ready for deposits and withdrawals, users will be informed via Twitter and the status page. As a result of this choice, Coinbase now joins the increasing group of exchanges that have declared their intention to offer Ethereum proof-of-work tokens that adhere to their requirements.
Exchanges Confirm Ethereum PoW Token Support
Even while the Ethereum merge, scheduled for mid-September, is something that many in the cryptocurrency industry are eagerly expecting, there has been more talk lately about the prospect of a hard fork.
After the Merge, there may be as many as 7 or 8 POW hard forks, according to Chandler Guo, one of the activists pushing for one.
The majority of significant exchanges, such as Binance, OKX, Poloniex, BitMEX, MEXC Global, Gate Exchange, etc., have stated that they support Ethereum hard fork PoW tokens as long as they adhere to their listing requirements.
Some have already established tickers for the forked tokens, claiming users may exchange their ETH for the forked tokens at a 1:1 ratio. Others, though, are awaiting the results of the Merge.
According to Binance, deposits and withdrawals for ETH and all ERC-20 tokens will be stopped between 4:30 IST on September 6 and 5:30 IST on September 15, 2022.
