Coinbase, in a post on September 20 via the platform X (formerly Twitter), has officially announced its intention to offer support for Vara Token (VARA) on the Vara network. Trading for VARA is expected to commence later on the same day, subject to liquidity conditions.
The listing announcement encompasses the introduction of a VARA-USD trading pair, set to be rolled out in phases. It’s important to note that this support may have certain geographic restrictions and is labeled as “Experimental” by Coinbase, which serves as a cautionary note for assets with relatively low trading volume or those newly added to the platform.
The Vara Network, characterized as a decentralized Layer-1 network, recently launched its mainnet with prominent backing from Gavin Wood, the founder of Polkadot. Powered by the Gear Protocol, this network introduces innovative concepts such as the Actor Model and Persistent Memory, which enhance speed and reduce latency. Additionally, it employs parallel processing and distinct memory spaces for smart contracts, potentially benefitting a range of industries, including gaming and finance. VARA’s Mainnet aims to tackle long-standing challenges related to transaction throughput and processing speed.
Despite ongoing regulatory disputes with the U.S. Securities and Exchange Commission (SEC), Coinbase, the largest cryptocurrency exchange in the United States, remains undeterred by unfavorable market conditions. Instead, the platform continues to make new listing announcements and initiate marketing campaigns, reaffirming its commitment to advancing the cryptocurrency industry.
