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US-based cryptocurrency exchange Coinbase announced on March 22 that it plans to support Arbitrum’s upcoming native token ARB, allowing it to be traded on its platform.
Listing details
Coinbase said it would add support for ERC-20 tokens and warned users not to send to networks other than Ethereum. The exchange added that it will start trading once sufficient supply and liquidity conditions are met. Trading is expected to start after the airdrop on March 23rd.
According to the announcement, Coinbase’s USD-ARB trading pair will be launched in stages. Additionally, the coin is tagged “experimental” on the exchange.
Experimental labels simply inform users that the token is new to the platform and will not hold, transfer, or interfere with trading.
The exchange also said that ARB trading is not available in some supported jurisdictions, without divulging details.
According to the announcement:
“The Arbitrum network (ERC-20 token) contract address of Arbitrum (ARB) is 0x912CE59144191C1204E64559FE8253a0e49E6548”
Coinbase has also warned that some users may experience delays in depositing to the Arbitrum network, and is working to resolve the issues causing this.
ARBs
The Arbitrum community has been waiting for a native token issuance for years, and the network has committed to distribute 56% of the circulating supply to the Arbitrum community (consisting of network users).
The current airdrop will distribute 11.5% of the total supply to eligible Arbitrum users and 1.1% to DAOs operating in the Arbitrum ecosystem.
Eligible users were transparently selected using a number of factors that were made public when the airdrop scheduled for March 23rd was announced.
Meanwhile, in anticipation of ARB’s launch, many people have started selling eligible wallets at discounted prices based on ARB’s current speculative value close to $1.
