A decentralized finance (DeFi) alternative currency pair joins the asset list of Coinbase, the leading cryptocurrency exchange in the United States.
In an announcement, Coinbase He said Index Cooperative (INDEX) will start trading on Coinbase Pro paired with Tether (USDT) as soon as the appropriate liquidity conditions are met.
Coinbase will add support for Wrapped Ampleforth (WAMPL) and Index Cooperative (INDEX) on the Ethereum network (ERC-20 token). Do not send this asset to other networks or you may lose your money. pic.twitter.com/HmHdINAGIg
Coinbase Assets (CoinbaseAssets) June 8, 2022
Index Cooperative strives to create easy-to-use and profitable investment products by bringing together people with diverse skills to improve strategy.
The original INDEX governance token gives owners voting rights over new product offerings as well as asset allocation.
The Cooperative Index declined after the Coinbase announcement, initially dropping 24.4% from $7.99 to $6.04.
The INDEX has since recovered somewhat, rising 6.49% on the day and trading at $7.16.
Wrapped Ampleforth (WAMPL), the wrapped version of the DeFi Ampleforth (AMPL) token that seeks a balance between price and supply, is joining Coinbase’s listing.
According to its white paper, the AMPL offer is increasing or contracting every 24 hours depending on the price of the token. If AMPL trades above $1, users get more tokens – if AMPL trades for less than $1, users lose tokens.
The benefits of the token include full on-chain redemption, no need for technical integration, and a total fixed supply of 10 million WAMPL tokens.
Encapsulated Ampleforth has seen price swings since the Coinbase announcement, first rising by 22% from $6.03 to $7.36 before easing back to $6.17.
After more choppy price action over the past 24 hours, WAMPL is currently down one percent at $6.41.
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