Polkadot Listed on Kraken; Trading Begins from August 18

Polkadot is officially listed on Kraken and will begin the trading from August 18, 2020. Due to the change in schedule, DOT is currently denominated outside Kraken’s control, and its clients might have to witness a variance in their DOT balance.

The redenomination changes how DOT will be defined based on its unit in the account, the Plank. After August 21, 2020, the DOT will be denominated as 1e10 Plancks from 1e20 Plancks moving two decimal places.

Redenomination does not require any change to the underlying protocols, so the redenomination timing is flexible for the wallet providers and exchange platforms. Kraken will be listing the Polkadot tokens denominated as the new tokens on August 18. If you add 1 Old DOT on Kraken anytime between August 18- August 21, the user accounts will be credited with 100 new DOTs.

The clients who have claimed the Old DOT with Kraken will witness their balances getting converted to New DOT before August 18; in more straightforward terms, the users will not be able to make transactions with the new DOT from Kraken account before August 21. 

The current price of the Old Dot is $330, if there is no significant change in the rates by August 18, the market price of the New DOT on Kraken will be $3.30 after the redenomination. Kraken aims to prioritize the client requirements, so they strive to list the assets on time so that the users can enjoy maximum benefits.

Polkadot is a cryptocurrency aiming to form a network for the public and private blockchain to provide exchange services for both custom assets and data. DOT plays a crucial role to maintain and operate the Polkadot network. DOT can be used widely for value storage, payments, or staking and delegating.

Recent Articles

GenM Clinches RM707m Loan for NY-Based Vacant Land

Wells Fargo, a US bank, has provided a grand loan of US$175 million to Genting Malaysia Bhd to enable the latter to purchase...

The Beginner’s Guide to Arbitrage Bitcoin? Is it Legal?

Bitcoin is a volatile digital currency increasingly used as an alternative to fiat currency for day-to-day online transactions. However, the unpredictable price...

UN Reports Cyberattacks on Crypto Exchanges Launched by North Korea

A UN expert panel recently reported that North Korea had been consistently attacking crypto exchanges and defense sector companies to acquire foreign...

Finxflo Unlocks New Trading Pairs for Crypto Enthusiasts

Finxflo, a leading cryptocurrency brokerage provider, has introduced a brand new trading pair of cryptocurrencies. Finxflo has its own token, FXF, which...

Reef Finance Collaborates with Manta DEX to Boost DeFi Adoption

Reef Finance, a leading cryptocurrency platform for DeFi (decentralized finance) has announced its collaboration with Manta Network to offer its users hassle-free access to liquidity...

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox

[tdn_block_newsletter_subscribe input_placeholder=”Email address” btn_text=”Subscribe” tds_newsletter2-image=”730″ tds_newsletter2-image_bg_color=”#c3ecff” tds_newsletter3-input_bar_display=”” tds_newsletter4-image=”731″ tds_newsletter4-image_bg_color=”#fffbcf” tds_newsletter4-btn_bg_color=”#f3b700″ tds_newsletter4-check_accent=”#f3b700″ tds_newsletter5-tdicon=”tdc-font-fa tdc-font-fa-envelope-o” tds_newsletter5-btn_bg_color=”#000000″ tds_newsletter5-btn_bg_color_hover=”#4db2ec” tds_newsletter5-check_accent=”#000000″ tds_newsletter6-input_bar_display=”row” tds_newsletter6-btn_bg_color=”#da1414″ tds_newsletter6-check_accent=”#da1414″ tds_newsletter7-image=”732″ tds_newsletter7-btn_bg_color=”#1c69ad” tds_newsletter7-check_accent=”#1c69ad” tds_newsletter7-f_title_font_size=”20″ tds_newsletter7-f_title_font_line_height=”28px” tds_newsletter8-input_bar_display=”row” tds_newsletter8-btn_bg_color=”#00649e” tds_newsletter8-btn_bg_color_hover=”#21709e” tds_newsletter8-check_accent=”#00649e” embedded_form_code=”YWN0aW9uJTNEJTIybGlzdC1tYW5hZ2UuY29tJTJGc3Vic2NyaWJlJTIy” tds_newsletter=”tds_newsletter1″ tds_newsletter3-all_border_width=”2″ tds_newsletter3-all_border_color=”#e6e6e6″ tdc_css=”eyJhbGwiOnsibWFyZ2luLWJvdHRvbSI6IjAiLCJib3JkZXItY29sb3IiOiIjZTZlNmU2IiwiZGlzcGxheSI6IiJ9fQ==” tds_newsletter1-btn_bg_color=”#0d42a2″ tds_newsletter1-f_btn_font_family=”406″ tds_newsletter1-f_btn_font_transform=”uppercase” tds_newsletter1-f_btn_font_weight=”800″ tds_newsletter1-f_btn_font_spacing=”1″ tds_newsletter1-f_input_font_line_height=”eyJhbGwiOiIzIiwicG9ydHJhaXQiOiIyLjYiLCJsYW5kc2NhcGUiOiIyLjgifQ==” tds_newsletter1-f_input_font_family=”406″ tds_newsletter1-f_input_font_size=”eyJhbGwiOiIxMyIsImxhbmRzY2FwZSI6IjEyIiwicG9ydHJhaXQiOiIxMSIsInBob25lIjoiMTMifQ==” tds_newsletter1-input_bg_color=”#fcfcfc” tds_newsletter1-input_border_size=”0″ tds_newsletter1-f_btn_font_size=”eyJsYW5kc2NhcGUiOiIxMiIsInBvcnRyYWl0IjoiMTEiLCJhbGwiOiIxMyJ9″ content_align_horizontal=”content-horiz-center”]