Coinbase Pro and Huobi, and OKEx listing ICP after ‘genesis launch’ of Dfinity

Dfinity Foundation is a much-awaited and heavily-funded blockchain project that went live on May 7th post its launch event. After the launch, the company also unveiled ICP, an Internet Computer Token that saw a record high of $700.

On May 10th, the platform transitioned into a public phase to become the first blockchain to offer hosting and internet services along with a robust financial system. This decentralized financial system is entirely built using smart contracts without any involvement from cloud services, making it a unique blockchain platform.

Role of the ICP Utility Tokens

There are two primary roles of ICP Utility Token.

• ICP Token enables governance participation for the holders. Users can stake them using NNS (Network Neuron System) and earn rewards.
• Users can convert ICP into cycles using NNS and use it as a fuel for computation.

Post the genesis launch of ICP and Dfinity blockchain, several crypto exchanges are listing the token to stay ahead of the competition and offer exclusive access to their users. Coinbase Pro is the first crypto exchange to support ICP, followed by Huobi and OKEx.

Coinbase Lists ICP

Coinbase is an American crypto exchange that in a tweet announced open trading for Internet Computer Governance Token (ICP) using the exchange.

ICP token, as mentioned above, gives holders access to the governance system and earns “voting rewards”. It can also be “converted into cycles” that can power smart contract computation.

On the Internet Computer blockchain, “developers can create websites, enterprise IT systems, pan-industry protocols, hyper-scale open internet services, DeFi, and NFTs by deploying their code directly on the public Internet”.

“The Internet Computer represents the third major innovation in blockchain after Bitcoin and Ethereum. The first blockchain to support smart contract software that runs at web speed, serves user experiences directly to users, and scales its compute capacity without bound,” explained Dominic Williams, CEO of Dfinity, ahead of the launch.

Coinbase users will be able to transfer ICP and use trading services once the token achieves sufficient market liquidity.

Huobi and OKEx to list and offer support for ICP

Following Coinbase, Huobi, and OKEx list ICP tokens becoming the first few platforms to provide their users trading facilities for ICP tokens.

The ICP deposits will be available on Huobi at 16:00 (UTC).

However, OKEx went a step further and revealed its plan to invest $10M in ICP using its investment arm, Blockdream Ventures.

ICP is a novel project that aims to improve public internet functionality and address the common challenges the internet faces globally. The company will allow developers to create websites, use internet services and DeFi applications directly on the public internet by using their code without any security risks.

You can start trading ICP on Coinbase, Huobi, or OKEx and start building your assets as ICP is a thing of the future that is undoubtedly here to stay.