At Kraken, we’re always striving to keep clients on top of what’s happening in the fast-moving cryptocurrency sector.
One of the biggest trends this year is the growth of the decentralized finance (DeFi) movement, an emerging class of cryptocurrency projects that use blockchains to offer lending and market making services operating without financial intermediaries.
These services have seen staggering growth over the last 12 months, growing 400% to hold over $2 billion in value, according to DeFi Pulse.
With that in mind, we’re excited to announce listing of three crypto assets powering these new protocols:
Additionally, we will be listing Storj (STORJ), a crypto asset that operates a blockchain data storage solution.
What time will funding and trading start?
- Funding: Kraken will enable deposits and withdrawals for all four assets at approximately 13:30 UTC on July 15.
- Trading: The first trades will start shortly after funding is enabled as sell orders cannot be placed until deposits clear (see the required confirmation times for deposits here).
- Updates will be posted on the status page near launch time.
There will be four trading pairs for each asset for trading in USD, EUR, Bitcoin (XBT), and Ether (ETH):
- USD (e.g. COMP/USD)
- EUR (e.g. STORJ/EUR)
- XBT (e.g. KNC/XBT)
- ETH (e.g. KAVA/ETH)
How to deposit
- Navigate to “Funding” > Select the asset. You can find the asset either by ticking “Show all assets” or by searching (e.g for “Compound (COMP)”).
- Click “Deposit” next to the asset and follow the on-screen instructions.
Confirmations required before deposits credit
- Compound (COMP): 30
- Kyber Network (KNC): 30
- Storj (STORJ): 30
- Kava (KAVA): N/A (nearly instant)
- Compound (COMP): 0.025
- Kyber Network (KNC): 10
- Storj (STORJ): 50
- Kava (KAVA): 10
You can review the fees for all four assets here: https://support.kraken.com/hc/en-us/articles/360000292886
Which services will the assets be available for?
Not (yet) available
Will Kraken list more assets?
Yes! But our policy is to never reveal any details until shortly before launch – not even about which assets we are considering. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.
Trade with caution
Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).
Invest with caution
Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.
Photo by Lukas Blazek on Unsplash
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