- Coinbase has revealed intentions to support Arbitrum’s upcoming native token ARB by listing it for trading on the platform.
- The exchange will add support for the ERC-20 token but warns users not to send it to networks other than Ethereum.
- ARB will be live for trading on Coinbase once sufficient supply and liquidity conditions are met.
In a March 22 announcement, Coinbase revealed intentions to support Arbitrum’s upcoming native token, ARB, by listing it for trading on the largest cryptocurrency exchange in the United States. The disclosure was bountiful, featuring several other details for Arbitrum users.
Coinbase’s listing details for the ARB token
Besides committing to adding support for the ERC-20 token, Coinbase said that the launch will take a step-by-step approach for the USD-ARB trading pairs on the exchange. Most importantly, ARB would feature an “experimental” tag on the US-based exchange to inform users that the Arbitrum token is new on the platform and that it does not impede holding, transferring, or trading.
The US-based exchange also cautioned users not to send ARB to networks other than Ethereum lest they lose their tokens. The exchange also added that it will start trading the token once adequate supply and liquidity conditions are met.
Coinbase will add support for Arbitrum (ARB) on the Arbitrum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.— Coinbase Assets (@CoinbaseAssets) March 22, 2023
Notably, trading is scheduled to commence shortly after the March 23 airdrop. An excerpt from the announcement reads:
The Arbitrum network (ERC-20 token) contract address for Arbitrum (ARB) is 0x912CE59144191C1204E64559FE8253a0e49E6548.
Before the token airdrop happens, the first 1000 customers that buy ARB on PancakeSwap will get a 99% discount.
Arbitrum $ARB will list on #Coinbase march 23th— Arbitrum Community (@Arbitrum_Comnty) March 22, 2023
✅ Buy $ARB now discount 99% on pancakeswap: https://t.co/ZUVmxPrtcV
Drop $BNB address (BEP20) pic.twitter.com/G5y6Tx6A42
Coinbase also noted that ARB trading would only be available for select jurisdictions but did not give further clarifications about this limitation.
As a forewarning, the exchange highlighted that some users could experience delays when depositing on the Arbitrum network but asserted that interventions were underway to solve the situation.
Binance also confirmed plans to list Arbitrum (ARB) and has provisionally scheduled it for open trading for these spot trading pairs beginning March 23 at 1700 UTC.
#Binance is listing @arbitrum $ARB.— Binance (@binance) March 20, 2023
➡️ https://t.co/6YOugDSXrU pic.twitter.com/jnamYKI71U
Arbitrum community members eager for ARB launch
After years of waiting, the Arbitrum community is eager for the ARB token to finally make its market debut. The anticipation was intensified when the network committed to distributing 56% of the token’s circulating supply to the Arbitrum community, comprising network users.
As reported earlier, the impending airdrop will distribute 11.5% of the total supply to eligible Arbitrum users. Another 1.1% to Decentralized Autonomous Organizations (DAOs) that operate within the Arbitrum ecosystem.
The process of eligible user selection will be transparent, leveraging several factors revealed during the airdrop announcement. Track the details here.
Meanwhile, the ARB token launch anticipation has triggered a selling spree for eligible wallets, which are now going for discounted prices on prevailing speculation that ARB will get as close to $1 as possible in market value.
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