Coinbase is preparing to introduce a new feature that will allow users to trade altcoins even before launch

Coinbase is set to launch a new feature that will allow users to trade new crypto tokens ahead of their launch.

Coinbase International Exchange and Coinbase Advanced will be able It allows traders from eligible jurisdictions outside the US, UK and Canada to buy perpetual futures contracts for assets that have not yet been listed on spot exchanges.

When the underlying asset for a pre-launch perpetual futures contract actually receives an exchange listing, the contract converts into a standard perpetual contract.

Coinbase They say The upcoming feature will enable traders to “participate in price discovery” though exchanges have been warned The risk is much higher in pre-launch markets.

“Given the higher-risk nature of pre-launch markets, these markets are more susceptible to lower liquidity, higher volatility and increased liquidation risk. Please note that positions for pre-launch markets will not be assigned to participants in our Liquidity Support Program (LSP). As such, these markets will be at a higher risk of auto-delerging compared to standard perpetual futures.”

Coinbase Advanced is the exchange’s advanced trading platform and will offer a pre-launch market for retail traders, while Coinbase International Exchange will provide tools for eligible institutional users.

According to Coinbase, funding rates in perpetual futures contracts prior to launch will use the same formula as standard perpetual futures.

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