Coinbase will upgrade its XTZ, ATOM, SOL, and ADA pledge services from March 24th to 29th
According to reports, according to an official announcement, Coinbase released an update on the upgrade of XTZ, ATOM, SOL, and ADA pledge service plans on March 10th. Between March 24th and March 28th, customers will see their XTZ, ATOM, SOL, and ADA balances transferred to “revenue balances,” which represents pledged funds. Until the upgrade is completed on March 29th, customers will temporarily be unable to cancel the pledge of these assets or pledge more funds. After the upgrade is completed, the pledge and pledge cancellation will be restored. During the upgrade process, users will continue to receive rewards, and payment will resume after the upgrade period ends.
Interpretation of this information:
Coinbase has released an update regarding the upgrade of XTZ, ATOM, SOL, and ADA pledge service plans. Between March 24th and March 28th, customers will see their balances for these assets transferred to “revenue balances,” representing pledged funds. During the upgrade, customers will not be able to cancel their pledge or add more funds until the upgrade is completed on March 29th. However, users will continue to receive rewards, and payment will resume after the upgrade period.
Interpretation:
Coinbase, one of the leading cryptocurrency exchanges, has announced an upgrade to its pledge service plans for four assets: XTZ, ATOM, SOL, and ADA, and the information was made public on March 10th. The upgrading process is set to occur between March 24th and March 28th, during which customers’ balances for these assets will be moved to “revenue balances” to represent pledged funds. However, customers will not be able to cancel their pledge or add more funds during this period.
After the upgrade is completed on March 29th, customers will once again be able to pledge as well as cancel pledge funds. Despite the upgrading process, users will still be rewarded for pledging these assets and payments will resume once the complete upgrading process is finished.
The purpose of this upgrade and its significance are not immediately clear. Still, one can deduce that this upgrade is most likely for increased security or to enhance the user experience on the exchange platform.
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