Altcoins
Coinbase Prepares to Roll Out New Feature Allowing Users to Trade Altcoins Ahead of Launch
Coinbase is preparing to roll out a new feature that will allow users to trade new crypto tokens before they launch.
The Coinbase International Exchange and Coinbase Advanced will allow traders in eligible jurisdictions outside of the United States, United Kingdom and Canada can purchase perpetual futures contracts for assets that have not yet been listed on spot exchanges.
When the underlying asset of a pre-launch perpetual futures contract actually receives a listing on an exchange, the contract is converted to a standard perpetual contract.
Coinbase said Upcoming feature will allow traders to “participate in price discovery,” via the exchange warns that pre-launch markets carry high risks.
“Given the high-risk nature of pre-launch markets, these markets are more prone to lower liquidity, higher volatility and increased liquidation risk. Please note that positions for pre-launch markets will not be allocated to participants in our Liquidity Support Program (LSP). As such, these markets will be at higher risk of self-deleveraging than standard perpetual futures contracts.
Coinbase Advanced is the exchange’s advanced trading platform and will offer pre-launch markets for retail traders, while Coinbase International Exchange will offer the instruments to eligible institutional users.
According to Coinbase, the pre-launch perpetual futures contracts will have funding rates that use the same formula as standard perpetual futures contracts.
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