The official blog post made by Coinbase Pro has revealed that the final verification of ETC has been completed and it is now introduced on the Coinbase Pro. The sources have further mentioned that on the very first ETC will be introduced on Coinbase exchanges and after that on Coinbase.com.
The launch will take place in four vital steps including transfer-only, post-only, limit-only, and the final stage, full-trading mode.
Furthermore, it stated that at current ETC is now being launched at Coinbase Pro and also clarified that once the proper liquidity is established it will be introduced at Coinbase.com. The tentative time is expected to be taken is for 1-2 weeks, once the trading process has begun in Coinbase Pro.
Looking at the background, the post unveiled that Coinbase Pro and Coinbase Prime has its origin from GDAX. It is considered that Coinbase Prime is the exchange for the institutions whereas Coinbase Pro can be used by the individual for regulating purpose.
The team of Coinbase Prime will directly contact the users of an institution. The fact is that if you have not received any prior mail or notification from the institutional team then it is supposed that you are a user of Coinbase Pro if trading on GDAX.
The launch of ETC consists of four steps and the sources have stated that all the four stages have their own importance and are independent of one another. They are outlined as ETC-USD, ETC-BTC, ETC-EUR. The noting point is that if one of the orders does not match the suitability for a healthy market order then one can stay in any of the suitable orders for longer time and even have the opportunity to suspend the exchange as per enshrined in Trading Rules.
The first one is ‘Transfer-Only’, this states that the customers are allowed only to transfer ETC starting at 10 am and no traders are allowed to place orders with this order book. Lastly, it stated that the transfer will take place only for 24-48 hours started on August 7.
The second one is ‘Post-Only’, it depicts that the users can post their orders but in a limited manner and there will be no assimilation. Moreover, the orders will be in post mode for not more than ten minutes.
‘Limit-Only’ is the third stage, this clarifies that customers are not able to place and submit market orders but the orders will start finding its match. Limit-Only mode will be activated minimum for 10 minutes.
The last one is ‘Full-Trading’, it will be made available will all the necessary requisites including market, stop orders, limit and so far. So, basically the last and the final stage is a full and efficient trading service phase.
Apart from this, the customers have also requested the whole team to allow as many assets they can allow for regulating on the platform. In return, the blog has given reply by stating that ETC has just taken its move in that particular direction.
Earlier to this month, the sources announced that they are embracing few assets and has promised to add more assets in the coming days. In order to start trading, you can log in into the official website of Coinbase Pro.