KEY ($0.00) TAKEAWAYS
- Kraken expands its trading platform by adding CYBER and VELODROME, with trading set to begin on February 18, 2025.
- Users must ensure deposits are made using Kraken-supported networks to avoid potential loss of funds.
- CYBER offers high TPS and security through Ethereum restaking, while Velodrome Finance provides low-fee swaps and on-chain governance.
- Kraken plans to list more assets in the future but will announce them shortly before launch.
Kraken has announced the addition of two new cryptocurrencies, CYBER and VELODROME, to its trading platform. Trading for these assets will commence at 15:00 UTC on February 18, 2025. The announcement was made here.
To start trading, users can add these assets to their Kraken accounts by navigating to the ‘Funding’ section, selecting the desired asset, and clicking ‘Deposit’. It is crucial for users to ensure that deposits are made using networks supported by Kraken, as deposits made through unsupported networks may result in loss of funds.
Trading via the Kraken App and Instant Buy will become available once liquidity conditions are met. This means a sufficient number of buyers and sellers must be present in the market for efficient order matching. Users should also be aware that geographic restrictions may apply.
Understanding CYBER and VELODROME
Cyber is a next-generation blockchain designed for social applications. It offers a seamless user experience through native account abstraction and seedless wallets. Built on EigenDA, Cyber ensures high transaction per second (TPS) rates, low costs, and security through Ethereum restaking. The CYBER token facilitates native yield on bridged assets and aligns with the OP Stack, featuring decentralized infrastructure to minimize risk.
Velodrome Finance, on the other hand, is recognized as the first MetaDEX. It provides low-fee swaps, rewards for liquidity providers, and on-chain governance. Velodrome is designed for sustainability, directing 100% of its fees to users and aligning incentives for operational efficiency. Notably, it operates as a permissionless, public-good liquidity infrastructure without venture capital funding or token sales.
Future Asset Listings on Kraken
Kraken has indicated that more assets will be made available in the future. However, the platform maintains a policy of not disclosing details about potential listings until shortly before their launch. All current and future tokens can be found on Kraken’s Listings Roadmap and social media profiles.
It is important to note that the information provided by Kraken is for general purposes only and does not constitute investment advice. The cryptocurrency market is unpredictable, and users should be aware of the potential risks involved, including the possibility of financial loss and tax liabilities.
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