Coinbase has rolled out buying and selling help for the brand-new native token of an Ethereum (ETH) layer-2 restaking protocol.
Clients on the prime US crypto alternate can now purchase and promote SWELL, which launched on Thursday.
SWELL is the governance token for the Swell Decentralized Autonomous Group (DAO), which manages the event and progress of the restaking protocol. SWELL additionally secures the venture’s layer-2 infrastructure.
Explains the venture’s whitepaper,
“Swell’s mission is to create a safer, decentralized and clear monetary future for the world that doesn’t discriminate or censor financial freedom.
The start of that journey for Swell begins with persevering with to advance liquid staking as one of many basic constructing blocks of modern-day decentralized finance (DeFi) that’s composable and absolutely built-in with the Ethereum ecosystem.”
Coinbase added the “experimental label” to SWELL, which the platform assigns to tokens that pose sure dangers corresponding to value swings and canceled orders due to decrease buying and selling quantity and availability.
SWELL is buying and selling at $0.0372 at time of writing. The 706th-ranked crypto asset is up greater than 9% on its first full day of buying and selling.
Kraken, Bybit, KuCoin, Bitrue, MEXC, Bitget and a flurry of different digital asset exchanges additionally listed SWELL on Thursday.
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