As mentioned in a blog post, one of the most common requests that the digital asset firm gets from clients is to be able to purchase and sell more digital currencies on Coinbase.
Voyager Token (VGX) is an Ethereum token that’s used to “reward and incentivize use of the Voyager centralized exchange,” the update explained while noting that on Voyager, VGX holders “can earn staking rewards, receive cashback on trades, and more.”
Coinbase had announced a process for listing assets, “designed in part to accelerate the addition of more cryptocurrencies.” The exchange further noted that they are investing in new tools to “help people understand and explore cryptocurrencies.” They launched informational asset pages (see VGX), as well as a new section of the Coinbase website to answer various questions about crypto-assets, the company added.
Coinbase clients are able to trade, send, receive, or store ALCX, ENS, GALA, GYEN and POWR “in most Coinbase-supported regions,” the update noted.
Beginning on November 16, 2021, Alchemix (ALCX), Ethereum Name Service (ENS), Gala (GALA), GYEN (GYEN) and Power Ledger (POWR) are also “available on Coinbase.com and in the Coinbase Android and iOS apps.”
Alchemix (ALCX) is an Ethereum token that “governs Alchemix Finance, a protocol that lets users open collateral-backed loans that are paid off automatically using yield generated by the collateral. ALCX can be used to propose and vote on changes to the protocol.”
Ethereum Name Service (ENS) is an Ethereum token that “governs the Ethereum Name Service, a protocol for human-readable crypto addresses and decentralized domain names.” ENS will be used to “propose and vote for changes to the protocol.”
Gala (GALA) is an Ethereum token that “powers Gala Games, a platform for blockchain gaming. GALA is used as the medium of exchange between Gala Games participants.” For example, it can be “used to pay for in-game items.”
GYEN (GYEN) is a stablecoin running on Ethereum that’s “intended to maintain a value of one Japanese Yen.” The company behind GYEN, GMO-Z.com Trust Company, “claims to hold reserves that fully back each GYEN.” Power Ledger (POWR) is an Ethereum token that “powers the Powerledger platform, which aims to enable peer-to-peer energy trading.” POWR is “required to participate in Powerledger and helps secure its various products, including energy trading, clean energy tracking, and verification.”