South Korea-based cryptocurrency exchange Upbit has announced the listing of the Zora (ZORA) token as its new digital asset. According to the exchange, ZORA will be traded on the KRW, BTC, and USDT markets.
Upbit to List Zora (ZORA) Token on KRW, BTC and USDT Markets
Zora trading will begin at 1:30 PM on October 17th. It was stated that the token operates on the Base network, and users can only make deposits and withdrawals through it. It was also warned that transfers outside the Base network will not be supported, and that erroneous network usage could lead to a lengthy recovery period.
Upbit will implement short-term trading restrictions to protect investors during the new listing process. Buy orders will be limited for the first five minutes after trading opens, and sell orders that are 10% below the previous closing price will not be accepted. Only limit orders will be allowed for approximately two hours.
Zora stands out as a social-based Web3 platform developed on the Base chain. Users can create their own profiles within the Zora ecosystem and become content creators.
They can engage in economic interactions based on their content by issuing assets like Creator Coin and Content Coin. All of these tokens automatically find liquidity and can be traded in Uniswap v4 pools on the platform.
The ZORA token has various uses on the platform, such as creating liquidity pairs, payment of transaction fees, and reward mechanisms.
*This is not investment advice.
