Coinbase lists Curve, Ankr, and Storj—here’s what they all do
Three altcoins listed on the regulated US exchange surged by several percent upon the news. But what function do they serve?
US crypto exchange Coinbase said it would list three altcoins, Curve, Ankr, and Storj, yesterday in a move that sent the trio’s prices surging skyward. The exchange seldom adds new cryptocurrencies to its list of offerings and is known for its strict compliance and regulatory stance.
“ANKR, CRV & STORJ are now live on Coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in now to buy, sell, convert, send, receive or store ANKR, CRV & STORJ,” it said in a tweet.
ANKR, CRV & STORJ are launching on https://t.co/bCG11KMQ6s & in the iOS & Android apps within the next 15 mins. You may need to update your app to buy, sell, convert, send, receive, or store ANKR, CRV & STORJ. We will update when all are fully live. https://t.co/D7lZQLDCn5
— Coinbase (@coinbase) March 25, 2021
The three listings are vastly different in terms of their functions, target market, and overall use cases. As such, the Curve DAO token (CRV) launched in 2020, Ankr (ANKR) launched in 2018, and Storj launched in 2017 (it raised $30 million in an ICO).
Ankr makes accessing the ‘Web 3.0’ simpler, offering distributed, multi-cloud blockchain infrastructure for one-click node deployment and management. As an infrastructure platform and marketplace, the project aims to allow users an easy way to blockchain networks and DeFi applications.
Deploying blockchain nodes is tough for new users or users who don’t code, and there’s where the Ankr node market comes in. It allows users to deploy blockchain nodes via a one-click API solution for public blockchains and DeFi protocols.
ANKR, its token, helps to facilitate payments on the platform and meter a network of globally distributed resources along with serving as an incentive for node providers.
Ankr introducing StakeFi!
Get ready to explore the cross-chain staking with us!
— Ankr (@ankr) March 19, 2021
Storj, pronounced as “storage,” is an open-source cloud storage platform that uses a decentralized network of nodes to host user data. Anyone and everyone can sell their extra hard drive space to other users via the protocol.
The project is owned and developed by Storj Labs Inc, which was founded in 2014. The firm pre-mined its entire supply of tokens at inception, meaning no new tokens can be created via STORJ mining.
Attention Node Operators! You can now take advantage of #ZKrollup technology to lower ETH transaction fees for payments made to your Node. Read all about our integration with @zksync, try it out, and let us know what you think. https://t.co/7BvhFGifWD
— Storj Labs (@storjproject) March 1, 2021
Curve is a decentralized exchange that allows users to swap stablecoins and other assets with the same value. This is to help users easily switch between ‘wrapped’ tokens (or ‘staked’ assets) to allow for a seamless DeFi experience.
CRV is a governance token that has implemented a time-based staking system. CRV holders can vest their tokens for ‘veCRV’—the protocol’s internal token that allows users to claim cash flows and take part in governance decisions.