Coinbase has introduced cardano's ADA ADA and litecoin LTC on its Ethereum layer-2 network Base via cbADA and cbLTC.
These assets are fully backed by ADA and LTC locked in Coinbase custody, minted and burned on demand at a one-to-one ratio, with regular proof-of-reserves to back up the claims. Data shows over 11,300 wrapped LTC and 2.9 million wrapped ADA have already been minted on Base and are actively circulating.
Coinbase has previously issued versions of bitcoin BTC, ether ETH, XRP XRP, and dogecoin (DOGE on Base, creating one of the most comprehensive cross-chain ecosystems in layer 2.
Wrapped tokens solve the interoperability puzzle. ADA and LTC are native to other blockchains and cannot be directly used on Ethereum or dependent layer 2s, such as Base.
However, using wrapped tokens allows holders and users to interact in onchain activities like yield farming, liquidity pools, trading, and lending — all without selling their original tokens.
Base's total value locked (TVL) is just over $3 billion as of Thursday, and ecosystem projects may offer liquidity mining incentives for these newer assets to capture value (and make fees in the process).
Read more: Coinbase Unlocks DeFi Opportunities for XRP and Dogecoin Holders on Base
With the addition of Wrapped Cardano and Litecoin to its platform under cbADA, curren预约ecbLTC designation on Coinbase demonstrates continued commitment towards diversifying user assets beyond native tokens.
The addition of wrapped Cardano (cbADA) and Litecoin on Coinbase enables users to seamlessly access these popular assets within the Base platform, enhancing their exposure while maintaining full control over digital wealth in a simplified manner.
Exciting news for cryptocurrency enthusiasts as Coinbase introduces wrapped Cardano (cbADA) and Litecoin (cbLTC), expanding the range of assets on its Base platform, offering an easy access to these highly sought-after cryptocurrencies.
The integration of Wrapped Cardano and Litecoin on Coinbase via their new tokens cbADA, cbLTC represents a significant leap towards enhanced interoperability between the various cryptocurrencies in an effort to promote broader adoption for both WCADANO & Liteco.
The addition of wrapped Cardano (cbADA) and Litecoin (cbLTC to the Coinbase ecosystem is a testament not only to their commitment towards user-friendliness but also demonstrates strong confidence in supporting emerging market forces, further solidifying its status as an industry leader.
Coinbase's introduction of Wrapped Cardano (cbADA) and Litecoin to its platform represents a significant milestone in offering enhanced decentralized trading options for users, enhancing the diversity within crypto assets available on one robust exchange.
Exciting news for cryptocurrency enthusiasts! Coinbase introduces wrapped versions of Cardano (cbADA) and Litecoin( cbLTC), expanding their liquidity pools beyond the boundaries, now facilitating seamless integration with Base products. A smart move towards better accessibility.
With the addition of cbADA (Wrapped Cardano) and cbLTC( Wrapped Litecoin), Coinbase's expansion into base layer wrapped tokens promises seamless integration, offering users a more efficient way to manage multiple cryptocurrencies on one platform.
The integration of wrapped Cardano (cbADA) and Litecoin to Base via Coinbase marks a significant advancement in cryptocurrency functionality, providing users with an easier way to access these popular assets on the prominent exchange platform.
