Cosmos (ATOM) is now available for trading on Coinbase Pro. Starting Monday, January 13, 2020, interested users can commence transferring ATOM to their Coinbase Pro account.
Transfer is expected to start during office hours (PT). This is according to a blog post by Coinbase Pro.
The exchange also disclosed that starting January 13, ATOM inbound transfer will be accepted for at least 12 hours before full trading commences. According to the schedule, trading is expected to start at 10.00 PT if an adequate amount of ATOM is attained. If so, trading will begin in two phases. The first phase will be the post-only mode. The second — full trading if the metrics indicate a profitable market.
Trading pairs include the ATOM/USD, and ATOM/BTC. Yet, the exchange promises to list more assets in the near future.
ATOM will be accessible for all of Coinbase’s supported regions. Note that Coinbase will not allow ATOM staking at the moment.
Phases of the ATOM launch
The atom launch is designed to take place in four stages. This way it wants to ensure that healthy and well-organized trading is maintained. The exchange reserves the right to suspend trading or keep assets in one of the stages longer than stated. If market assessment is deemed unorderly or unhealthy.
The stages include:
Start date: Monday, January 13, 2020. Transferring ATOM will be activated but users will not be able to place orders yet. The order is expected to stay in this mode for about 12 hours.
During this stage, users can place limit orders but there will be no matches or completed orders. This stage is expected to last for at least one minute.
In this stage, matching limit orders will take place but users will be unable to submit market orders. This phase is expected to last at least ten minutes.
- Full trading
This is the fourth and final phase. It will welcome full trading services. Such as limit, market and stop orders.