On Thursday, September 10, Coinbase pro mentioned that it is planning to launch Yearn.finance. After the launch, locations that support Coinbase will enjoy YFI on Coinbase, apart from New York State.
Coinbase also pointed out that on Monday, September 14, they will start accepting inbound transfers of YFI to Coinbase Pro. On Tuesday, September 15, trading on Coinbase will start, on or after 9 AM Pacific Time (PT), only if the digital asset meets liquidity conditions. YFI is not yet on Coinbase, but it will get announced if and when the support gets added.
Once enough supply of YFI gets established in Coinbase, trading on the YFI-USD order book will develop in four phases. These four phases are transfer-only, post-only, limit-only, and full trading. If any of the order books does not meet Coinbase standards for a healthy and orderly market, the platform may suspend trading. As each order book moves through the phases, Coinbase will announce the progress via their Coinbase Pro Twitter account.
Coinbase’s Recent Additions
Coinbase says it receives many requests from its clients for the platform to add more digital assets. According to the platform’s listing process, Coinbase looks forward to supporting more assets that reach its standard with time. The Coinbase listing process’s goal is to give its clients tools to discover, evaluate, trade, and even use the virtual assets.
Recently, Coinbase has added trading support for about seven assets. These assets include Maker (MKR), Band (BAND), Numeraire (NMR), Compound (COMP), Celo (CGLD), OmiseGo (OMG), and UMA. The platform also supports additional European and UK order books and is continuously surveying for other new digital assets to support.
Yearn.finance is one of the many decentralized finance (DeFi) platform. Yearn.finance aims at carrying out functions such as aggregated liquidity and automated marketing making. This DeFi platform performs such functions by moving provider’s funds between other platforms, such as Compound and Aave.
The native token for Year.finance is (YFI). To earn this YFI token, you must contribute to Yearn.finance’s liquidity pool and use the token for the platform governance. Yearn.finance recently developed yVAULT strategy, YETH. These yVAULT strategies are a set of actions that enable traders to deposit funds that are then automatically sent to liquidity pools, where token rewards get earned. Yearn.finance investors say that it is effortless to use, mostly because of fees’ efficiency.