- Bitstamp to offer SKALE Network trading pairs
- The token will be rolled in in four phases
- SKALE Network trading pairs will include SKL/USD and SKL/EUR
About SKALE Network
The SKALE Network aims to improve the scalability of the Ethereum network while simultaneously increasing transaction volume. The decentralized project’s goal is to cut latency and payment costs as much as possible while maintaining high security.
The developers seek to make it possible for users to create and operate DApps (decentralized apps) on a decentralized, modular cloud that users can customize to meet various real-world requirements without losing security.
Nodes on the SKALE Network are responsible for providing resources to many decentralized elastic blockchains. These are decentralized, customizable, and Ethereum-compatible, among other characteristics.
In exchange for SKL, the token that powers the SKALE Network, its holders get the ability to participate as a network validator, stake as a delegator, or offer access to a portion of the network’s resources to developers and other users.
SKALE Network Joining Bitstamp Trading Portfolio
SKALE Network will be listed on Bitstamp for trading. The latest listing, announced recently on Twitter, will allow interested users to trade the SKALE Network’s asset SKL on the Bitstamp platform.
— Bitstamp (@Bitstamp) October 21, 2021
According to the exchanger’s schedule, SKL’s listing process will be in four stages. The transfer-only stage will commence on October 21, and users can make deposits and withdrawals with the token. However, trading will not be available.
The second and third modes will follow on October 28, where users can place and cancel orders but won’t get matched, and orders won’t be completed. However, normal trading will start later in the with limited orders available. Full trading of SKL will commence once the order books pick up enough liquidity. It will also prompt the release of all order types and card purchases for the new trading pairs, including SKL/USD and SKL/EUR.
The new trading pairs will be available to everyone on the platform, excluding those in the US and Singapore. The SKL currency will be listed along with Fetch.ai and Rari Governance token.
Outlook For SKALE Network
SKALE Network aims to enhance the security and decentralization of Ethereum-based applications.
To increase the SKALE Network’s scalability and security, token holders serve as validators, earning incentives for their efforts. The SKALE Network uses evidence of Stake (PoS) to guarantee a secure network. As blocks are proposed, validators in the SKALE Network help to keep the network safe. A completed block is committed to the chain after all of the validators have reached an agreement on its finalization.
With a 24-hour trading volume of $98,740, 632, 652, the current SKALE Network price is $0.333281. A live market capitalization of $2 621, 726, 747, 447 USD puts the current CoinMarketCap ranking at #119. At the time of the SKALE Network’s debut, a total of 4.1 billion SKL tokens were available for purchase. The maximum quantity of tokens has been set at 7 billion.