Coinbase on Thursday announced the launch of CTSI, RLC, MIR & TRB on the platform. While more trading options are always great, it is good to know what each asset does and why it is worth the price it costs. Below is basic information on each new asset in the Coinbase ecosystem, how it works, and other basic information about the network and asset.
We believe it is always important to make informed decisions when investing in crypto, and we advise doing further research into one of the below assets before investing.
Cartesi (CTSI)
This token acts as a utility token that powering the Cartesi network. This networks aim is to solve blockchain scalability and related high fees using a technology called Optimistic Rollups. Other cryptocurrencies like Ethereum and Bitcoin face high fees as the asset rises in price.
CTSI can be used for staking and fees for processing data on the network. The Cartesi network also enables smart contract creation using a variety of mainstream programming languages.
As of writing, the token is up 51% in the last week, and is trading at $0.91 per token. The total supply of the coin is 1 billion tokens.
Mirror Protocol (MIR)
This is an Ethereum token that governs the Mirror Protocol, allowing for “the creation of fungible assets, that track the price of real world assets.” Assets include tokenized forms of real-world items and objects. The project aims to enable always-on trading by minting “synthetic” versions of the real assets. These tokens are used to propose and vote on important changes to the protocol, acting as a governing token.
As of writing, the token is down 8% in the last 24 hour period, and is trading at $10.00 per token.
iExec (RLC)
This token powers the cloud-based iExec platform. The name of the token (RLC) stands for “Run on Lots of Computers”. This network allows the monetization and renting computing power and data storage. iExec allows developers to power applications on this cloud-based, decentralized platform.
As of writing, the token is up 66% in the last week, and is trading at $4.55 per token. The supply of the coin is 86,999,784 tokens in total.
Tellor (TRB)
This token powers the decentralized oracle network that allows smart contracts on Ethereum to securely connect to external data sources. TRB is the token for the network based on the Ethereum blockchain. THis token works to incentivize honest reporting of external data.
As of writing, the token is down 7.5% in the last 24 hour period, and is trading at $110.35 per token. It will have a maximum supply of 1,707,842 TRB tokens.
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