A pair of decentralized finance (DeFi) altcoins has been added to the top list of assets on the US cryptocurrency exchange Coinbase.
In the announcement, Coinbase To tell Index Cooperative (INDEX) will open a trading pair of Coinbase Pro and Tether (USDT) once the appropriate liquidity conditions are met.
Index Cooperative aims to create user-friendly and profitable investment products by bringing together people with different skill sets to maximize their strategy.
The Native Governance Token INDEX gives holders voting rights for proposed new products as well as asset allocation.
Index Cooperative fell after the announcement of Coinbase, initially dropping 24.4% from $ 7.99 to $ 6.04.
INDEX then recovered somewhat, rising 6.49% on the day and trading at $ 7.16.
Also on Coinbase’s roster is Wrapped Ampleforth (WAMPL), a wrap version of the Ampleforth (AMPL) DeFi token that seeks to achieve a price-supply equilibrium.
According to the white paper, AMPL’s supply will expand or contract every 24 hours based on the price of the token. If AMPL is traded above $ 1, the user will get more tokens. If AMPL is traded for less than $ 1, the user will lose the token.
Benefits of tokens include full on-chain redemption, no need for technical integration, and a fixed total supply of 10 million WAMPL tokens.
Wrapped Ampleforth has fluctuated in price since Coinbase’s announcement, initially jumping 22% from $ 6.03 to $ 7.36 and then back to $ 6.17.
After more volatile price behavior over the last 24 hours, WAMPL is now down 1 percent to $ 6.41.
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Featured images: Shutterstock / Naeblys / INelson