Once sufficient supply of XTZ is established on the platform, trading on the XTZ/USD, and XTZ/BTC order books will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met. Support for XTZ will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State. Additional jurisdictions may be added at a later date.
Tezos is a cryptocurrency and decentralized computing platform. Its features include proof of stake consensus, formal verification (which lets developers verify the accuracy of their code), and the ability to let stakeholders vote on changes to the protocol.
Please note that XTZ is not yet available on Coinbase.com or via our consumer mobile apps. We will make a separate announcement if and when this functionality is added.
The Stages of the XTZ Launch
There will be four stages to the launch as outlined below. We will follow each of these stages independently for each new order book. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our .
Transfer-only. Starting on Monday August 5, customers will be able to transfer XTZ into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for approximately 12 hours. We will communicate the exact timing for this phase via closer to the date.
Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.
Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.
Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.
One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our , we anticipate supporting more assets that meet our standards over time.
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