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Coinbase Adds Support for ELA on Ethereum (ERC-20)
Following the June 21 announcement from Coinbase Assets’ official Twitter account, premier cryptocurrency exchange, Coinbase, has added support for “Elastos” with the listing now live for both ELA-USD and ELA-USDT trading pairs. The listing represents Elastos’ greatest stride into the public exchange scene to date, with previous listings including Huobi, KuCoin, and Bittrex Global. Now on Coinbase, the Elastos ecosystem will benefit from substantial increases in both public exposure and liquidity support.
User Considerations: Transferring “Elastos” to Coinbase
There are currently several types of ELA. Some reside within the Elastos Ecosystem as coins, and other versions reside within other ecosystems. In Ethereum’s case, as an ERC-20 token. To keep things simple for potential Coinbase users, we will not list every single version of ELA here, instead, only distinguish between the following:
- ELA on the Elastos Main Chain
- ELA on the Elastos Smart Chain
- WELA on the Elastos Smart Chain
- ELA on Ethereum (ERC-20)
While Coinbase is using the generic terms “Elastos” and “ELA”, they have only listed ELA on Ethereum, NOT the other three types listed above, or any other versions in existence.
Therefore, before proceeding to transfer ELA to Coinbase, users should note that the exchange will only support ELA on Ethereum (ERC-20). As such, users must first bridge their ELA from the Elastos Smart Chain (ESC) to Ethereum via a bridging application before sending to Coinbase. Transferring ELA directly from the Elastos Smart Chain (ESC), Elastos Main Chain, or any other chain, will result in lost funds.
In order to securely move ELA to Ethereum, users may open either the Glide Finance or ShadowTokens cross-chain bridging applications that run on the Elastos Smart Chain (ESC). Users simply enter the amount of ELA they would like to transfer, and ensure that it is being sent from Elastos Smart Chain (ESC) to Ethereum. Once received on the Ethereum blockchain, the ELA tokens may be deposited to Coinbase for trading. For a full guide on how to bridge on Glide Finance, click here.
- Currently, there is a 1000 ELA minimum to bridge ELA to Ethereum, although that amount may be lowered in the future.
In addition to bridging, users can acquire ELA on Ethereum (ERC-20) directly from the Uniswap DEX.
Users can track their ELA on etherscan at the following token address:
ELA on Ethereum (ERC-20) token address: 0xe6fd75ff38Adca4B97FBCD938c86b98772431867
To keep up to date with Coinbase’s ELA on Ethereum (ERC-20) listing, stay tuned here on the official Elastos Info Blog, and follow the Elastos ecosystem’s official Twitter account and official Discord.