Kraken will add The DAO tokens to the growing list of assets supported on its global, cutting edge and low fee platform. The DAO tokens will trade under the abbreviation “DAO” with the following trade pairs available at launch:
- DAO/XBT (bitcoin)
- DAO/ETH (ether)
- DAO/EUR (euro)
- DAO/USD (US dollar)
- DAO/CAD (Canadian dollar)
- DAO/GBP (British pound)
- DAO/JPY (Japanese yen)
Margin trading and the dark pool will not be available for the DAO at launch, however other trading features will be available including the many advanced order types Kraken offers for taking profits and stopping losses.
The DAO launch is expected at approximately 12 pm UTC on Saturday, May 28th (just a few hours after The DAO tokens become transferable). At launch clients can deposit their DAO tokens and start trading by navigating in their account to Funding > Deposit > DAO and creating a DAO deposit address. Note that there will be a small fee for address creation of $0.04 or $0.05, which will be deducted from the first deposit sent to the address (actually the address of a small contract). Deposit addresses cannot be removed until the first deposit is made.
Support for DAO trading comes shortly after the addition of DAO support for ether withdrawals. The DAO – or Decentralized Autonomous Organization – allows anyone to create their own autonomous organizations on the Ethereum blockchain. To learn more about The DAO, see the project’s website.