Kraken exchange to list BAND, INJ, MIR and 1INCH – trading starts August 10

Kraken exchange to list BAND INJ MIR and 1INCH trading starts August 10
Kraken exchange to list BAND INJ MIR and 1INCH trading starts August 10

Kraken exchange to list BAND, INJ, MIR and 1INCH – trading starts August 10: The 5th largest exchange by volume, Kraken has announced listing four new assets: Band Protocol (BAND), Injective Protocol (INJ), Mirror Protocol (MIR) and 1inch Network (1INCH).

Deposits for all four assets are available starting now, trading will begin on August 10 at approximately 15:30 UTC for all assets; trading is not available to residents of the USA, Canada, Australia and Japan.

Here’s a rundown of the new assets available for deposit on Kraken today.

Band Protocol (BAND) – Band Protocol is a cross-chain data oracle platform that provides real-world data to decentralized applications (dapps) running on blockchains. To facilitate the exchange of information, smart contracts can connect to Band’s API which aggregates real-world information to be relayed to the blockchain. Band’s cryptocurrency, BAND, can be staked by those who wish to become validators and check transactions on the Band Protocol. BAND token holders can also use their tokens to participate in Band’s governance mechanism.

Injective Protocol (INJ) – The Injective Protocol is a decentralized exchange (DEX) that offers various features such as cross-chain margin trading, derivatives and forex futures trading. Built on the Cosmos blockchain as a layer-2 application, Injective uses bridges to offer cross-chain capabilities for traders to trade across other platforms such as Ethereum and Polkadot. The exchange is operated by the INJ token, Injective’s cryptocurrency, which is used by makers and takers to pay for transaction fees on its network.

Mirror Protocol (MIR) – The Mirror Protocol is a decentralized finance (DeFi) protocol powered by smart contracts that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets (like gold) and give traders open access to their price exposure without having to own or transact with the actual assets. The Mirror token (MIR) is minted by the protocol and distributed as a reward to nodes who help secure the ecosystem.

1inch network (1INCH) – 1inch is a decentralized exchange (DEX) platform built on Ethereum that aims to find the best exchange rates for its participants across all leading DEXs. This means that 1inch aggregates token prices across all DEXs, such as Uniswap or Sushi, and finds the best swapping routes available for traders to exchange their tokens while mitigating overall transaction costs. Its governance token, 1INCH, allows those who stake it to vote on network upgrades that dictate how the software is run.

What time will funding and trading start?

  • Funding: Already available – you can deposit BAND, INJ, MIR and 1INCH now!
  • Trading: Starts August 10 at approximately 15:30 UTC (Kraken will enable order entry and execution at this time)
  • Updates will be posted on the status page near launch time

Trading pairs for 

Each new asset will be available for trading in USD and EUR

How to deposit BAND, INJ, MIR and 1INCH

  • Navigate to “Funding” > Select the asset. You can find the asset either by ticking “Show all assets” or by searching (e.g for “1INCH” or “INJ”)
  • Click “Deposit” next to the asset and follow the on-screen instructions

Confirmations required before deposits credit

  • BAND: 20 (about 5 minutes)
  • INJ: 20 (about 5 minutes)
  • MIR: 20 (about 5 minutes)
  • 1INCH: 20 (about 5 minutes)

Trading minimums

  • 1 BAND
  • 0.5 INJ
  • 1 MIR
  • 2 1INCH
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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