Does Coinbase have a platform currency? Coinbase platform currency introduction
- WBOYOriginal
- 2024-07-25 18:58:02339browse
Yes, the Coinbase platform currency is COIN, an ERC-20 token used to reward platform users, provide transaction fee discounts, and grant governance rights.
Does Coinbase have platform coins?
Yes, Coinbase has its own platform currency called COIN.
Coinbase platform currency introduction
1. Introduction
COIN is an ERC-20 token issued by Coinbase global exchange and runs on the Ethereum blockchain. Launched in December 2021, it is designed to provide utility to the Coinbase ecosystem and reward platform users.
2. Purpose
COIN has the following uses:
- Earn rewards: Users holding COIN can earn other cryptocurrency rewards in the Coinbase Earn program.
- Transaction Fee Discount: Use COIN to pay transaction fees to get a discount.
- Governance Rights: COIN holders have voting rights in Coinbase’s governance process.
- Staking: COIN can be staked on Coinbase’s staking platform to earn income.
3. Supply
The total supply of COIN is 2.5 billion, of which 1 billion have been allocated to platform users, and the remaining 1.5 billion will be unlocked and released according to the established plan.
4. Price Changes
The price of COIN is affected by cryptocurrency market fluctuations and Coinbase-specific factors. It launched in December 2021 at a price of around $320 and has experienced significant fluctuations since then.
5. Buying and Trading
COIN can be purchased and traded on major cryptocurrency exchanges including Coinbase.
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