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Posted on May 23, 2022Trade thousands of tokens on your choice of network in Coinbase Wallet
Tl;dr: Coinbase Wallet makes it simple to trade tokens on your choice of network. This month, we expanded our trading features to support token swaps on BNB Chain and Avalanche.
By Catherine Shyu Sullivan, Senior Product Manager
More than $1 trillion were traded on decentralized exchanges (DEXs) in 2021 — a staggering 858% increase from 2020. Coinbase Wallet brings the expansive world of DEX trading to your fingertips, where you can easily swap thousands of tokens, trade on your preferred network, and discover the lowest fees.
Today, we’re providing even more reasons to trade on Coinbase Wallet. In addition to making swaps on Ethereum and Polygon, you can now trade on BNB Chain (formerly Binance Smart Chain) and Avalanche, letting you swap a greater variety of tokens than most traditional centralized exchanges can offer.
One Wallet. Multiple Chains. Thousands of tokens.
Decentralized exchanges are peer-to-peer marketplaces that enable transactions to occur directly between users, fulfilling one of crypto’s core tenets of fostering financial freedom without banks, brokers, or other intermediaries. DEXs also provide access to the emerging world of web3 through tokens such as ApeCoin, JOE, PancakeSwap and others.
Coinbase Wallet’s in-app DEX makes it easy to access these types of tokens through its trading feature, which compares rates across multiple exchanges through the 0x API and saves you the extra steps along the way. Adding support for networks such as BNB Chain, Avalanche, and Polygon means you can trade more tokens, faster, and with more affordable network fees (read more about those here).
DEX trading made easy
It’s easy to get started with Coinbase Wallet’s built-in DEX trading feature. Tap the ‘trade’ button in your mobile app or click the ‘swap’ icon in the browser extension, pick the token you want to exchange and the token you’d like to exchange it for, tap ‘confirm’, and you’re all set — it’s that quick and easy.
To trade tokens on a different network, simply tap the network icon in the top right corner of the Wallet mobile app, or click the network name in your browser extension, and select the network you’d like to make your swap on. Before swapping on a network, make sure you have the native token of the network you wish to make a swap on in your wallet to cover the network fees. For example, for a swap on Avalanche, you will need some AVAX in your wallet.
For a more detailed overview of how to use the in-app DEX and commonly asked questions, check out this Help Center article.
Looking Ahead
We want to make it easier for you to engage in the world of decentralized finance (DeFi) and web3. In the months to come, we’ll be making it possible to conduct swaps on an even greater variety of networks. Not only will trading expand, but we’re also planning to add support for network bridging, allowing you to seamlessly move tokens across multiple networks. Make sure to follow us on Twitter for the latest Coinbase Wallet news and product updates.
Coinbase Wallet is a self-custody wallet providing software services subject to Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and private keys for Coinbase Wallet are stored directly by the user and not by Coinbase. Fees may apply. You do not need a Coinbase.com account to use Coinbase Wallet.
Trade thousands of tokens on your choice of network in Coinbase Wallet was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 19, 2022My Permissionless presentation on how Coinbase is building for web3
by Surojit Chatterjee, Chief Product Officer, Coinbase
Tl;dr: This week I presented our vision for building for web3 at the Permissionless conference by Blockworks. Sharing my full presentation here.
My Permissionless presentation on how Coinbase is building for web3 was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 19, 2022Why Coinbase and the WNBA are investing in the future together
TL;DR: Coinbase is announcing its partnership and investment in the WNBA ecosystem.
Today, Coinbase is excited to announce our expanded investment within the Women’s National Basketball Association (WNBA) ecosystem. In addition to the League, our new partners include the Women’s National Basketball Players Association (“WNBPA” — the union which represents all players), two team partners, the New York Liberty and Seattle Storm, and two of the league’s biggest stars, Sue Bird and Jewell Loyd.
Coinbase believes the cryptoeconomy will be built by talented and creative women who are rewriting the rules and welcoming the future — just like those in and around the WNBA. While the WNBA is on a journey to transform their league long-term, having announced the largest-ever capital raise for a women’s sports property in February of this year, Coinbase continues to work towards its mission to create more economic freedom in the world and bring the next 100 million users to the cryptoeconomy.
Coinbase has accelerated opportunities to introduce crypto to our new partners and WNBA fans. At this year’s Rookie Orientation, we ran a crash course covering crypto and NFTs for the top rookies invited to the Draft. Thanks to the WNBPA, all 144 WNBA players will be set up with Coinbase accounts and crypto funds to further familiarize themselves with the space. New York Liberty and Seattle Storm fans will get the chance to earn crypto through giveaways and experience web3 through IRL activations. Fans of Sue Bird and Jewell Loyd will also see them make their mark in crypto and NFTs in the same way they’ve done for the game of basketball.
Coinbase, through its proud partnerships with the WNBA and WNBPA, wants to enable more participation in the cryptoeconomy and web3, and engaging more women and our new partners will allow us to do just that.
Why Coinbase and the WNBA are investing in the future together was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 19, 2022Building a more open financial system: How Coinbase detects bad actors
By Paul Grewal, Chief Legal Officer
Tl;dr: At Coinbase, we take our responsibility to build a more open, accessible financial system very seriously. We’re deeply committed to our asset listing policies and processes, and we’ll continue to innovate as our dynamic space evolves.
A few weeks ago, we shared concerns about purchases of certain assets right before we announced they were being considered for listing on Coinbase — possibly using insider information. We take this issue very seriously and therefore wanted to share more about our efforts in this space.
The blockchain fundamentally drives greater transparency in financial transactions
First, it’s important to understand that tracking and disrupting bad actors using crypto is far more effective than if they were using traditional fiat currencies. This isn’t to say that it’s easy, but we do have an advantage because crypto transactions are recorded on a permanent and public blockchain, which gives our investigation teams — along with the public and law enforcement — visibility into the details of different transactions. With crypto, it’s possible to trace and map transactions across users and exchanges — creating a fuller picture of what happened with any given trade, and making it easier to identify things that look like possible market manipulation or trades using material nonpublic information.
We have an exceptional team dedicated to preventing and identifying financial crimes
We have more than a decade of experience tracking and disrupting illegal activity, and have built expert teams to support these efforts along the way, including many with substantial experience in the public and private sector. In addition to our Security, Trade Surveillance, Global Intelligence, and Special Investigations teams, we have a dedicated Financial Crimes Legal team. This team is led and staffed by multiple former federal criminal prosecutors and overseen by a former federal judge. Many of these former prosecutors have been part of some of the largest cryptocurrency cases in history, and are charged with making sure we’re doing everything we can to detect and disrupt bad actors.
Frontrunning can happen through technical or human means
Technical
The primary way we’ve seen information about possible asset listings become public before any announcement is through technical signals. For example, sometimes before onboarding an asset, we have to test it in ways that show up on the blockchain. These signals are not obvious to most, but are nevertheless accessible to all and may be detected if someone is looking hard enough for it, by examining on-chain data. That’s why we take steps to minimize this type of risk, including:
- Announcing planned asset launches once a decision has been made to list an asset, but before key technical integration work begins, so everyone has access to the same information.
- Exploring new ways of integrating and testing asset launches (including off-chain sandbox testing).
- Building and deploying industry-first analysis tools to test our systems using a wide range of techniques based on observed real-world behavior.
- Using a variety of best-in-class security tools to monitor and control access to sensitive listing information.
Human Sharing/Frontrunning
Information can obviously get out when people share it. Coinbase has gone above and beyond what a traditional financial institution can do to track and address this kind of bad behavior:
- Our Trade Surveillance and other teams leverage the public blockchain to detect prohibited or suspicious transactions and then trace those funds across wallets, users, and exchanges (in a way traditional finance can’t) to see who profited and understand their connections.
- We mandate that all employees trade crypto only on Coinbase’s trading platforms (where the asset is supported) so we can look out for prohibited trading activities.
In addition to Trade Surveillance, we also have more than 50 employees across various teams supporting the detection and prevention of illicit activity and misconduct, both on our platform and within the broader crypto ecosystem.
As we’ve stated multiple times, if an investigation finds that a Coinbase employee was involved in misuse of company information related to asset listings, we will not hesitate to terminate them — and, when appropriate, refer them to relevant law enforcement authorities.
We measure impact to drive accountability
It takes time to notice the effect of some of these changes, but we’re already seeing positive early indications of their impact on new asset launches.
Conclusion
To us, success is all market participants trading on the same information. That’s our goal. Crypto is a dynamic environment, so we are continually looking for additional ways to protect the confidentiality of information about our asset listings.
That’s why steps like these are so important. And while there’s always more work to do, I’m confident that we have the teams, resources, and experience to make Coinbase the most innovative and trusted way for people everywhere to access the cryptoeconomy.
Building a more open financial system: How Coinbase detects bad actors was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 18, 2022Long Live Crypto
By Kate Rouch, Chief Marketing Officer
This week Coinbase celebrated a milestone of 10 years in business by doing what we do best — building! Just this week: Coinbase unveiled our web3 mobile dapp and DeFi wallet and browser, announced our Primer Commerce integration and introduced Coinbase Institute. CMO Kate Rouch explains how Coinbase used this milestone moment to shine a light on all those who remain focused on building the future.
COINBASE: The crypto market has taken a downturn. How is your team thinking about this?
Volatility is painful, and can be scary. Nobody likes to lose money in the short term — whether in crypto, or the stock market more broadly. That said, volatility is also natural for emerging technological breakthroughs like crypto. At Coinbase, we’re inspired by the long term view and the spirit of those who continue to keep innovating no matter the external environment.
COINBASE: Where does the confidence in a crypto “rebound” come from?
Coinbase was founded 10 years ago this week into a “crypto winter.” After founding, we quickly entered 3 wrenching downturn years. Being in crypto during this time was incredibly challenging and lonely. But Coinbase and the crypto economy more broadly emerged stronger for it. A lot of new and exciting projects, entrepreneurs, and communities formed during that time.
COINBASE: What do you think Coinbase has learned from past crypto winters?
Crypto has exited every winter stronger than it entered. This is true across all key metrics. Regardless of how long it lasts or how severe it gets, we believe this cycle will be no different. This is the opportunity for the defining companies of Web3 to emerge.
COINBASE: What should folks take away from this new spot?
Builders build, and have a long term view. That’s core to Coinbase’s DNA, and the attitude that will ultimately move us all forward. It’s easy to write an obituary. It’s hard to bring something new to life. We hope this ad inspires people who have been through these types of challenges before — whether in crypto or beyond — to share their wisdom, and inspiration. #buildersbuild
Zoom out. Keep shipping. And — long live crypto.
-Kate
Long Live Crypto was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 18, 2022Introducing the Coinbase Institute: Advancing the policy debate around crypto and the future of…
Introducing the Coinbase Institute: Advancing the policy debate around crypto and the future of web3
By: Hermine Wong, Director of the Coinbase Institute
Tl;dr: Today signals the launch of the Coinbase Institute, a global crypto-native think tank. Our mission is to accelerate rigorous, novel research, and to bring together the best minds across disciplines to fuel progress on decentralization, web3, and the future of finance.
Today, we’re launching the Coinbase Institute — a global crypto-native think tank grounded in evidence-based research. Our mission is to accelerate rigorous, novel research, and to bring together the best minds across disciplines to fuel progress on decentralization, web3, and the future of finance. Our work will cut across many disciplines and provide expert analysis and insights about what’s happening in the global cryptoeconomy.
The Coinbase Institute’s mission will be anchored around four core pillars of work:
- Conducting and publishing rigorous, cutting-edge crypto & web3 research;
- Convening collaborative discussions with thought leaders, academics, policymakers, and the crypto community;
- Forging partnerships with academic institutions and think tanks to accelerate early-stage research and technical innovation;
- Building an interdisciplinary in-house team to advance public knowledge and awareness of crypto and web3.
What’s launching today?
- Our Coinbase Primers series, starting with Crypto and the Climate. Our primers are designed to unpack high-profile concepts around crypto and web3. News in this space moves quickly — it can be challenging to understand the technology and data underlying the headlines. Our primers will break through the noise to provide clear explanations of key issues along with the latest numbers and analysis.
- Our first Coinbase Institute Monthly Insights Report on digital asset markets. This month, we focus on providing a real-time comparative analysis of market movements in the cryptoeconomy and traditional finance. Each month, we’ll provide real-time trends and insights on particular themes of the cryptoeconomy, and over time, we will return to these themes to reflect the changing nature of the issues we cover.
- Our first academic partnership with the University of Michigan, with whom we will kick off the first comprehensive annual survey of U.S. households’ adoption of and sentiments toward crypto. The University of Michigan Survey Research Center conducts some of the most widely cited and influential studies in the world, including survey work for the U.S. Census Bureau and the Department of Defense.
Leadership & Advisory Board
Our Leadership Team:
- Hermine Wong is the Director of the Coinbase Institute and a Director of Policy at Coinbase. Previously, Hermine served in the U.S. Securities and Exchange Commission at their Division of Economic and Risk Analysis. She also worked at the Office of Management and Budget’s Office of Information and Regulatory Affairs (OIRA) within the Executive Office of the President, and at the U.S. Department of State.
- Dr. Cesare Fracassi joins us as our first Director of Economic Research and Chief Economist of the Coinbase Institute. Cesare is also a member of the State of Texas Work Group on Blockchain Matters. Before joining Coinbase, he was an associate professor of finance at the McCombs School of Business at the University of Texas at Austin, where he was the Director of the Blockchain Initiative and the Fintech Research Lab.
Our Advisory Board:
- Christian Catalini, founder of the MIT Cryptoeconomics Lab, Research Scientist at the MIT Sloan School, and co-creator of Diem (formerly Libra). His research focuses on crypto and blockchain technology.
- Marco Di Maggio, faculty member in the Finance Unit at Harvard Business School and a faculty research fellow at the National Bureau of Economic Research. His research focuses on financial intermediation, with a particular interest in the disruption of financial markets by new technologies.
- Vikramaditya S. Khanna, Professor of Law at the University of Michigan William W. Cook Law School and Research Member of the European Corporate Governance Institute. His research includes corporate and securities laws, global business and law practice, law and technology, and law and economics.
- Nagpurnanand Prabhala, Francis J. Carey, Jr. Endowed Professor in Business and Professor of Finance at the Johns Hopkins University Carey School of Business. His primary research interests are in empirical corporate finance and financial intermediation.
- Manju Puri, J.B. Fuqua Professor of Finance at the Duke University Fuqua School of Business. She is an authority in the field of empirical corporate finance, with particular expertise in financial intermediation.
What’s next?
We’re still at the early stages of the cryptoeconomy’s evolution, and it’s here to stay. In the future, the Coinbase Institute plans to publish more original research papers and to convene thoughtful discussions around our four pillars. Despite the recent market noise, comprehensive data and analysis about crypto’s adoption over time will provide the public, policymakers, regulators, and academics with a better understanding of crypto’s diversity and interconnection to the overall economy.
In the meantime, do you have feedback on our work or new topics to suggest? Visit us at our website to join the discussion, explore our research, and learn more about our advisors, partnerships, and events to come. Follow @coinbase and join the conversation.
Introducing the Coinbase Institute: Advancing the policy debate around crypto and the future of… was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 17, 2022Embracing Decentralization: Integrating and Building Protocols at Coinbase
By Jesse Pollak, Senior Director of Engineering at Coinbase
Tl;dr:
- Coinbase is committed to its vision of investing in web3 and the broader cryptoeconomy.
- We’re embodying this vision by integrating, building, and supporting protocols at Coinbase.
- Protocols are increasingly integrated into our products, a focus for teams across the company, and a major investment area for Coinbase Ventures.
- To support this work, we’re growing our Smart Contract Engineering team and building protocol expertise across every role.
Over the past year, Coinbase has begun laying the groundwork to transform into a web3 company. We’re doing this because we expect that large portions of the global economy will move “on-chain” in the coming years. This transition will occur as people globally demand greater access to financial services and ownership in the success of the businesses they support. Coinbase is positioned to play a key role in increasing economic freedom by doubling down on web3 innovation and supporting the development of protocols that put powerful financial tools in the hands of people around the world. Today, we’re sharing an update on how we’re integrating, building, and supporting these protocols.
Protocols offer a range of products and services that allow people anywhere in the world to transact directly with each other. For example, Compound makes it easier for individuals to lend or borrow crypto assets, giving them access to capital and higher yields with no intermediaries involved. Another example is USD Coin, the largest stablecoin on Ethereum with a market capitalization over $50B, that allows people to easily send and receive funds globally using a digital asset that is pegged to the US dollar. Protocols like these form the foundation of the cryptoeconomy that millions of people interact with daily.
In just over two years, the value locked in these protocols has gone from a few hundred million to over $200B. People all over the world want greater control over their financial futures and web3 protocols are making that a reality.
At Coinbase, we are embracing protocols across all our strategic pillars with four key initiatives:
- Integrating protocols into our products. In Coinbase Wallet, and our recently launched dapp wallet, we are natively integrating trading and yield features supported by protocols as well as enabling open access to protocols through our browser. We recently launched Coinbase NFT, which is powered by the 0x protocol to enable low fee NFT swaps. Additionally, through our DeFi Yield product, we are integrating with protocols like Compound to offer users in eligible jurisdictions higher yields on their holdings. We are excited about how protocols can enable better user experiences and aim to keep integrating them deeply into our products.
- Building protocols and supporting innovation. We support protocols, regardless of how they will directly integrate into Coinbase. We support protocol innovation through our Project 10% program, which funds moonshot ideas including the recent Coinbase Ventures investment in Backed. We’re also supporting protocol work in the ecosystem through our developer grants program and open source contributions like Rosetta, which makes it easier to integrate protocols into Coinbase. Today, we also announced that Coinbase Cloud is supporting a group of experienced founders and operators who are building the first enterprise-grade liquid staking protocol.
- Funding protocols in the broader ecosystem. Coinbase Ventures has invested in protocols throughout its lifetime and is an early investor in some of the most exciting web3 protocols, including Compound, UMA, Saddle, Radicle, Synthetix, Notional, Goldfinch, and others. In the first quarter of 2022 alone, Coinbase Ventures closed 70+ deals (300+ to date). It invests across the web3 technology stack and is expanding cross-chain investments beyond Ethereum with the goal of promoting an open multi-chain future of finance.
- Investing in top talent and core technology. We’re building a best-in-class Smart Contract Engineering team to support our protocol work and integrating protocol thinking into our product management practice. Through developer tooling, hackathons, and company wide knowledge sharing and experimentation, we are building a community that sets the standard for web3 talent. In the year ahead, we are also excited to contribute open source developer tools and libraries to support building protocols at scale.
Last year we wrote about Coinbase embracing decentralization by adding more assets, expanding internationally, integrating with third-party platforms, and emphasizing self-custody. We closed by saying:
Many of the most innovative use cases in crypto are being created in decentralized apps. By fully embracing this trend we can put crypto in the hands of more people around the world and thereby increase their economic freedom.
We’ve been hard at work embracing this vision by investing in web3 protocols at Coinbase — and while we’ve made extensive progress, we’ve got a long way to go. We’re excited for the journey.
If these challenges excite you, join our team and help build an open financial system for the world.
Embracing Decentralization: Integrating and Building Protocols at Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 17, 2022Enterprise-grade Liquid Staking Standard with Support of Coinbase Cloud and Figment
Tl;dr: Enterprise-grade liquid staking is an industry gap. The first-ever enterprise-grade liquid staking protocol is being launched by a highly experienced team of founders, with early support from Coinbase Cloud and Figment.
We couldn’t be more excited to announce that Coinbase Cloud, in collaboration with Figment, is supporting a group of experienced founders and operators who are building the first enterprise-grade liquid staking protocol.
The founding team of Alluvial, the software development firm developing the new protocol, is led by Matt Leisinger, former Head of Liquid Staking products at Figment; Nicolas Maurice, the former CTO of Kiln staking-as-a-service platform, and Mike Taormina, former Head of Institutional Business at the Index Cooperative, a decentralized community powering on-chain crypto structured products. Alluvial’s vision is to grow the protocol — and the ecosystem at large — by building standards that are open, transparent, and incentive aligned, and move towards a community-governed future. Alluvial intends for the protocol to ultimately be governed in a decentralized manner by a DAO with broad industry participation.
Liquidity is a critical component of a maturing web3 economy and we are excited to be a part of a group of industry leaders tackling one of the most rapidly growing yet nascent segments of the market together: liquid staking.
Liquid staking opens up opportunities to efficiently utilize staked assets as collateral to trade, lend, and provision quickly and strategically. Staking requires assets to be locked to use as collateral to support network security in return for earning rewards. Traditionally, staked tokens remain locked and inaccessible while staked and are subject to “warm up” and “unbonding” periods.
With liquid staking, token holders don’t need to choose between staking, and accessing their assets to pursue other opportunities. They can stake their tokens, receive back receipt tokens that evidence ownership of their staked tokens and use those receipt tokens to participate in the broader web3 economy. Liquidity is key to unlock the next chapter of financial innovation in web3.
In just under a year, in Ethereum alone, liquid staking has gone from sub-1% penetration in January 2021 to around over 30% penetration. More and more enterprises and institutions are looking to participate in liquid staking every day. However, today’s solutions don’t meet their needs. Mature and regulated businesses need to know their counterparties and require enterprise-grade reliability, security, and KYC / AML processes.
Alluvial seeks to tackle this industry gap by creating the industry standard for enterprise-grade liquid staking across multiple protocols. The non-custodial protocol will require all contributors to enable embedded KYC/AML checks, allowing enterprises and institutions to meet their compliance standards while enabling seamless integration into their existing technology stack. We are proud to support the Alluvial founding team as they work to build and scale the protocol.
As part of the initial validator set, Coinbase Cloud and Figment intend to each perform staking services on the network, and run validators with distinct clients in different regions and cloud providers, with other industry-leading operators joining soon. Client diversity and multi-cloud/multi-region infrastructure will provide enterprises and institutions with the high uptime and reliability that they are looking for. Over time, new security focused validator operators will be added to the protocol to help it grow and scale further.
We are looking forward to supporting Alluvial’s experienced founding team, other industry leaders and the community at large to bring this initiative to life over the coming year. We aim to support the growth of the protocol by working with more builders, participants, and validators across the ecosystem. If you are an enterprise or institution looking to explore the world of liquid staking, or an ecosystem system partner looking to build on the protocol, get in touch with the Coinbase Cloud team.
Enterprise-grade Liquid Staking Standard with Support of Coinbase Cloud and Figment was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 17, 2022Upcoming Changes to Order Size Limits
Tl;dr As part of our goal to continually improve the trading experience and better protect our customers, we are making changes to our market parameters on June 2, 2022 .
Min Order Size Limits: Simplifying with just a check on notional
As crypto asset prices fluctuate, the base and quote order size limits on our Exchange can diverge in notional terms. We try to keep up with the market by updating these limits on a regular basis, but we realize the frequency of the changes can lead to customer confusion.
Instead of maintaining both base min order size (API field name: base_min_size) and quote min order size (API field name: min_market_funds), we are changing our size limits to consider simply the notional value of the order submitted to our exchange. Notional is defined as order size (or quantity, in the base currency) multiplied by order price (or funds, in the quote currency).
For example, consider the DOGE-USD market, where the quote min order size is 1. Suppose a trader submits the limit order: “Buy 10 DOGE at a price no greater than $0.15”
Check on notional: 10 * 0.15 = 1.5
Since 1.5 > 1, the order will be accepted.
Pursuant to this change, we will deprecate the base min order size variable from our market parameters. We will maintain the quote min order size limit as the check on notional. The check will apply to all orders where funds in the quote currency are specified (e.g. limit orders and market buys).
For API traders, please note that we will deprecate the use of base_min_size in our /products endpoint on June 2, 2022. On June 16, 2022, we will remove this variable from our endpoint. We will continue to maintain min_market_funds, with the new logic checking notional size of the order.
Max Order Size Limits: Deprecating in favor of our dynamic PPP protections
We set our max order size limits on a per-order book basis, considering depth of order book within 500bps over recent time periods, in order to protect our clients from submitting single large-sized orders that would move the market significantly. We assign higher max order size limits to order books that are more liquid. However, these limits are static and order book depth (liquidity) can fluctuate.
Meanwhile, our price protection points (PPPs) are a dynamic, real-time defense against significant price movements caused by a single order, and are set more conservatively to guard against slippage than our max order size limits. For this reason, we believe our price protection points (PPPs) better serve our clients and have decided to remove our static max order size limits.
We will deprecate the use of our base max order size and quote max order size limits from our market parameters. API traders should note that base_max_size and max_market_funds on our /products endpoint will no longer be enforced on June 2. On June 16, 2022 we will remove these variables from our endpoint.
Upcoming Changes to Order Size Limits was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Posted on May 17, 2022Coinbase Commerce expands merchant access to crypto payment acceptance with Primer
TL;DR: Our latest integration with Primer will enable merchants to quickly and easily add cryptocurrency acceptance into their checkout experiences.
As the payments ecosystem continues to evolve, the checkout experience is getting even more complex. Consumers are faced with an increasing number of options for payment, and it’s crucial for merchants to ensure that consumers are offered maximum flexibility otherwise they risk losing business. For business owners, establishing and managing all of the connections needed to provide this flexibility can be convoluted, expensive, and time consuming. 40% of consumers surveyed globally said they planned to use cryptocurrency to make a payment within the next 12 months.* Coinbase’s integration with Primer will help merchants meet this demand by creating a seamless cryptocurrency checkout experience leveraging Coinbase Commerce.
Compass Mining Chief Product Officer Jameson Nunney accurately summed up the value of the integration for merchants: “We love the simplicity of quickly adding new connections like Coinbase and other payment providers within the Primer platform. We believe that this implementation will be instrumental in helping us reach our goal of growing globally and helping more people learn, explore, and mine Bitcoin.”
Primer is the world’s first automation platform for payments and commerce that offers a completely unified checkout and payment infrastructure. Their unique platform means:
- Merchants can connect and control their entire payment and commerce stack
- Anyone can build sophisticated payment flows with a no-code editor
- Any developer can build a connection with their open, agnostic framework
Collaborating with Primer will help make it simpler for mid-market and enterprise merchants across the globe to accept crypto payments with Coinbase Commerce.
Merchants interested in accepting cryptocurrency as a form of payment can learn more by heading to commerce.coinbase.com, and we’ll continue to share updates around integrations with new providers.
* Mastercard New Payments Index, 2021
Coinbase Commerce expands merchant access to crypto payment acceptance with Primer was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
