Greetings,
Polkadot (DOT) is coming to Kraken, but not without important changes before trading begins.
As previously announced, DOT will be officially listed on Kraken starting August 18. However, due to a scheduled change in how DOT is denominated (occurring outside of Kraken’s control), clients may initially see a difference in their DOT balance.
That’s because Polkadot’s first stakeholder vote, open to any DOT token holder, resulted in the decision to redenominate DOT tokens three days after transactions are enabled on the network.
This means that while transactions can begin occurring on the Polkadot network on August 18, on August 21, all DOT tokens will be redenominated by a factor of 100.
The redenomination simply changes how DOT is defined in terms of its smallest unit of account, the Planck. Before 21 August, the DOT will be denominated as 1e12 Plancks. After this date the DOT will be denominated as 1e10 Plancks, moving the decimal 2 places.
If you are holding 1 Old DOT in a private wallet you control (not the DOT balance in your Kraken account), it will automatically convert to 100 New DOT on August 21. However, the number of Plancks in your wallet will not change.
Since the redenomination doesn’t involve a fundamental change to the protocol, the exact timing of the redenomination is flexible for exchanges and wallet providers, and some are redenominating a bit earlier than the August 21 date.
Kraken will list Polkadot tokens denominated as New DOT on August 18. Put simply, if you deposit 1 Old DOT on Kraken between August 18 and August 21, your account will be credited for 100 New DOT. Clients who have already claimed Old DOT with Kraken will see their balances converted to New DOT prior to August 18.
To avoid possible confusion, please note that you will not be able to withdraw New DOT from your Kraken account until after the official redenomination on August 21.
Further, we will refer to the Polkadot token as “New DOT” to mark the redenomination. However, in our currency pairs and on our trading platform, we will simply use the trading symbol “DOT.”
After careful consideration, we decided that this plan of action is best for our clients.
Once we enable trading in any asset, it has broad implications for our systems and teams. Implementing the redenomination after only three days of trading would not only mean an interruption in trading for our clients, but would impact our funding gateways, trading engine, data warehouse, data analytics, finance and accounting teams, and how we reconcile our funds.
At Kraken, our first priority is to do what’s best for clients, and in this situation, that means listing the asset in a timely manner so you enjoy maximum freedom and flexibility with your funds.
What price will New DOT be trading for on Kraken?
Currently market price for Old DOT is approximately $350 USD. Assuming price has not changed much by August 18, market price for New DOT on Kraken might be around $3.50 USD due to the redenomination.
What is Polkadot (DOT)?
Polkadot is a cryptocurrency that aims to create a network of public and private blockchains that can exchange both custom assets and data.
Co-founded by Ethereum co-creator Gavin Wood, there are two main components that make up its architecture: the relay chain, the foundational blockchain for the network (powered by DOT), and parachains, custom blockchains that can be built on top of its network.
Polkadot’s cryptocurrency, DOT, plays a key role in maintaining and operating the network, and can be used to store value and make payments, or for staking and delegating, actions that ensure network operations and decision-making in voting.
By owning and staking DOT, users gain the ability to vote on network upgrades, with each vote being proportional to the amount of DOT cryptocurrency they stake.
Bookmark Polkadot’s website to follow development of the project more closely.
Will Kraken also have staking for DOT?
Yes - DOT staking will be enabled at the same time as trading (August 18 at approximately 13:00 UTC).
Polkadot (DOT) is coming to Kraken, but not without important changes before trading begins.
As previously announced, DOT will be officially listed on Kraken starting August 18. However, due to a scheduled change in how DOT is denominated (occurring outside of Kraken’s control), clients may initially see a difference in their DOT balance.
That’s because Polkadot’s first stakeholder vote, open to any DOT token holder, resulted in the decision to redenominate DOT tokens three days after transactions are enabled on the network.
This means that while transactions can begin occurring on the Polkadot network on August 18, on August 21, all DOT tokens will be redenominated by a factor of 100.
The redenomination simply changes how DOT is defined in terms of its smallest unit of account, the Planck. Before 21 August, the DOT will be denominated as 1e12 Plancks. After this date the DOT will be denominated as 1e10 Plancks, moving the decimal 2 places.
If you are holding 1 Old DOT in a private wallet you control (not the DOT balance in your Kraken account), it will automatically convert to 100 New DOT on August 21. However, the number of Plancks in your wallet will not change.
Since the redenomination doesn’t involve a fundamental change to the protocol, the exact timing of the redenomination is flexible for exchanges and wallet providers, and some are redenominating a bit earlier than the August 21 date.
Kraken will list Polkadot tokens denominated as New DOT on August 18. Put simply, if you deposit 1 Old DOT on Kraken between August 18 and August 21, your account will be credited for 100 New DOT. Clients who have already claimed Old DOT with Kraken will see their balances converted to New DOT prior to August 18.
To avoid possible confusion, please note that you will not be able to withdraw New DOT from your Kraken account until after the official redenomination on August 21.
Further, we will refer to the Polkadot token as “New DOT” to mark the redenomination. However, in our currency pairs and on our trading platform, we will simply use the trading symbol “DOT.”
After careful consideration, we decided that this plan of action is best for our clients.
Once we enable trading in any asset, it has broad implications for our systems and teams. Implementing the redenomination after only three days of trading would not only mean an interruption in trading for our clients, but would impact our funding gateways, trading engine, data warehouse, data analytics, finance and accounting teams, and how we reconcile our funds.
At Kraken, our first priority is to do what’s best for clients, and in this situation, that means listing the asset in a timely manner so you enjoy maximum freedom and flexibility with your funds.
What price will New DOT be trading for on Kraken?
Currently market price for Old DOT is approximately $350 USD. Assuming price has not changed much by August 18, market price for New DOT on Kraken might be around $3.50 USD due to the redenomination.
What is Polkadot (DOT)?
Polkadot is a cryptocurrency that aims to create a network of public and private blockchains that can exchange both custom assets and data.
Co-founded by Ethereum co-creator Gavin Wood, there are two main components that make up its architecture: the relay chain, the foundational blockchain for the network (powered by DOT), and parachains, custom blockchains that can be built on top of its network.
Polkadot’s cryptocurrency, DOT, plays a key role in maintaining and operating the network, and can be used to store value and make payments, or for staking and delegating, actions that ensure network operations and decision-making in voting.
By owning and staking DOT, users gain the ability to vote on network upgrades, with each vote being proportional to the amount of DOT cryptocurrency they stake.
Bookmark Polkadot’s website to follow development of the project more closely.
Will Kraken also have staking for DOT?
Yes - DOT staking will be enabled at the same time as trading (August 18 at approximately 13:00 UTC).
Medium
The Results are In
Two weeks ago we started the first vote on the fledgling Polkadot network. That vote has just ended and the results are clear.
The basic terms are as follows.
• 12% annual fixed reward, paid twice per week
• You can stake/un-stake immediately with no waiting period
• Available for Starter, Intermediate and Pro account tiers
What time will funding and trading start?
• Deposits: enabled August 18 at approximately 13:00 UTC.
• Withdrawals: enabled August 21 at approximately 13:00 UTC.
• Trading: enabled August 18 at approximately 13:00 UTC. The initial trading minimum will be 1 DOT.
• Updates will be posted on the status page near launch time.
Trading Pairs
• DOT/USD
• DOT/EUR
• DOT/XBT
• DOT/ETH
For further details about the Polkadot listing, see our blog post.
Thank you for choosing Kraken, the trusted and secure digital asset exchange.
The Kraken Team
• 12% annual fixed reward, paid twice per week
• You can stake/un-stake immediately with no waiting period
• Available for Starter, Intermediate and Pro account tiers
What time will funding and trading start?
• Deposits: enabled August 18 at approximately 13:00 UTC.
• Withdrawals: enabled August 21 at approximately 13:00 UTC.
• Trading: enabled August 18 at approximately 13:00 UTC. The initial trading minimum will be 1 DOT.
• Updates will be posted on the status page near launch time.
Trading Pairs
• DOT/USD
• DOT/EUR
• DOT/XBT
• DOT/ETH
For further details about the Polkadot listing, see our blog post.
Thank you for choosing Kraken, the trusted and secure digital asset exchange.
The Kraken Team
Kraken Blog
Polkadot Trading Begins August 18 – What Clients Need to Know Before Launch
Polkadot (DOT) is coming to Kraken, but not without important changes before trading begins. As previously announced, DOT will be officially listed on Kraken starting August 18. However, due to a scheduled change in how DOT is denominated (occurring outside…
Forwarded from Predictūm X — The Most Powerful Indicator
The CME institutionals closed half of their long positions this week.
At the moment there are twice more short positions than longs — this is bearish signal. Dump is coming anytime.
Keep this in mind guys.
#BTC
At the moment there are twice more short positions than longs — this is bearish signal. Dump is coming anytime.
Keep this in mind guys.
#BTC