Coinbase Adds Support for Vara Token on Vara Network
In a recent announcement, Coinbase revealed that it will be adding support for Vara Token (VARA) on the Vara network. Trading is expected to commence on September 20, pending liquidity conditions. The listing will include a VARA-USD trading pair, which will be launched in phases. However, it’s important to note that this support may have certain geographic restrictions and will be labeled as “Experimental” due to the low trading volume or newness of the assets on the platform.
Vara Network: A Decentralized Layer-1 Network
The Vara Network is a decentralized Layer-1 network that recently launched its mainnet. It has gained support from Gavin Wood, the founder of Polkadot, and is powered by the Gear Protocol. The network introduces new concepts such as the Actor Model and Persistent Memory to improve speed and reduce latency. It also implements parallel processing and distinct memory spaces for smart contracts, offering potential benefits to industries like gaming and finance. With its Mainnet release, VARA aims to address long-standing challenges related to transaction throughput and processing speed.
Coinbase’s Forward Momentum
Despite ongoing regulatory uncertainties with the U.S. Securities and Exchange Commission (SEC), Coinbase remains determined to push the industry forward. As the largest cryptocurrency exchange in the U.S., Coinbase continues to announce new listings and launch paid media campaigns, showcasing its resilience in unfavorable market conditions.
Hot Take: Coinbase Expands Its Asset Offerings with Vara Token Listing
Coinbase’s decision to add support for Vara Token on the Vara network demonstrates its commitment to expanding its asset offerings and providing users with access to new cryptocurrencies. By introducing a VARA-USD trading pair, Coinbase is facilitating the trading of Vara Token and enabling users to participate in the growth potential of this digital asset. The collaboration with the Vara Network, backed by industry experts like Gavin Wood, highlights Coinbase’s efforts to align with innovative projects and technologies. Despite regulatory challenges, Coinbase continues to forge ahead, demonstrating its determination to drive the crypto industry forward.
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