Trading Support for Vara Network (VARA) Now Available on Coinbase
Are you a customer of Coinbase? If so, you can now trade the native token of a new layer-1 project called Vara Network (VARA). This week, the top US crypto exchange added support for VARA, the native asset of Vara Network, which recently celebrated its mainnet launch.
About Vara Network
Vara Network is an independent decentralized layer-1 network that aims to provide an ideal environment for next-gen gaming and financial-based applications. Built on the Gear Protocol, a Substrate-based smart-contract platform, Vara Network offers developers in both Web3 and Web2 the most secure, efficient, and scalable environment for deploying their decentralized applications.
The Vara standalone network is designed to meet the low-latency execution requirements of next-generation apps like gaming and payments, providing the fastest on-ramp for these applications and unlocking new potential applications.
Coinbase Adds Support for VARA
Coinbase has added support for VARA under its “Experimental Label.” This designation is reserved for riskier, lower liquidity tokens. At the time of writing, VARA is trading at $0.18, down from $0.27 on Wednesday.
Confusion with Équilibre
It’s worth noting that Équilibre, an unrelated automated market maker (AMM) using the same VARA ticker, also experienced a brief price increase on Wednesday. However, traders quickly realized that it was not the project listed by Coinbase.
Hot Take: Coinbase Embraces Vara Network and Expands Token Listings
Coinbase’s decision to add trading support for Vara Network’s native token, VARA, demonstrates the exchange’s commitment to expanding its token listings. By including riskier and lower liquidity tokens under the “Experimental Label,” Coinbase is catering to traders interested in exploring new projects and investment opportunities. This move highlights Coinbase’s role as a leading platform in the crypto market, providing users with access to a wide range of assets. As Vara Network continues to develop and gain traction, its listing on Coinbase could bring increased visibility and potential for growth.
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