MKR, REN and ZRX trading starts May 14 – Deposit Now

Over the past 12 months, we’ve had a DeFi Summer and an NFT Spring. The space is very much in the next phase of crypto innovation and we at Kraken are supporting this next phase with liquid markets.

To that end, Kraken is supporting three new assets: Maker (MKR), Ren (REN) and 0x (ZRX). Trading will start on May 14 at approximately 15:30 UTC for all assets. 

Kraken will also be supporting deposits and withdrawals for USDT (TRC-20) starting today. 

Deposits for all assets are currently open so you can deposit now!

Note: Trading is not available to residents of the USA, Canada, Australia and Japan.

Maker (MKR) – The Maker protocol, which runs on Ethereum, operates and maintains DAI, a cryptocurrency-collateralized stablecoin designed to track the price of the U.S. dollar. Its governance token, MKR, is how holders determine changes to the protocol. 

Ren (REN) – Ren enables access to decentralized finance (DeFi) products on Ethereum by allowing holders to transfer crypto assets across different blockchains rather than sell. Anyone can lock their assets (like Bitcoin) in a smart contract, and in return, receive the equivalent amount in ERC-20 tokens. The native REN asset pays for operations on the network. 

0x (ZRX) – 0x is a peer-to-peer marketplace that facilitates the exchange of Ethereum-based assets including tokens representing physical real estate, shares of stocks and bonds, or other cryptocurrencies. ZRX is designed to distribute the management and operation of the 0x platform.

USDT (TRC-20) – USDT (TRC-20) is a U.S. dollar-pegged stablecoin on the Tron network. One USDT represents 1 U.S. dollar held in reserve by the Tether project. USDT was originally launched and issued on Bitcoin via the Omni Layer protocol (USDT-OMNI), but it has since been issued on several other blockchains, including Tron. 

What time will funding and trading start?

• Funding: Already available – deposit MKR, REN, ZRX and USDT now

• Trading: Starts May 14 at approximately 15:30 UTC (Kraken will enable order entry and execution at this time)

• Updates will be posted on the status page near launch time

Trading pairs for MKR, REN and ZRX

Not all cryptocurrencies can be directly traded for one another and each new asset will be available for trading in the following quote currencies:  USD, EUR, GBP and BTC.

How to deposit MKR, REN and ZRX

1. Navigate to “Funding” > Select the asset. You can find the asset either by ticking “Show all assets” or by searching (e.g for “ZRX” or “REN”). 
2. Click “Deposit” next to the asset and follow the on-screen instructions.

How to deposit USDT-TRC20

• Navigate to Funding > Tick “Show all assets”

OR

• Search for Tether (USDT) > Click “Deposit” next to Tether (USDT) > Select “TRC20” > Generate a deposit address > Send USDT to this address

Confirmations required before deposits credit

• MKR: 20 (about 5 minutes)
• ZRX: 20 (about 5 minutes)
• REN: 20 (about 5 minutes)
• USDT (TRC20): 20 (about 2 minutes)

Trading minimums

• 0.0020 MKR
• 5 ZRX
• 5 REN
• 5 USDT

Fees and funding minimums 

Which services will be available for MKR, ZRX, REN, and USDT?

Available

Not (yet) available

Will Kraken list more assets?

Yes! But our policy is to never reveal any details until shortly before launch – not even about which assets we are considering. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future.

Trade with caution

Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).

Invest with caution

Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.

Source: https://blog.kraken.com/post/9023/mkr-ren-and-zrx-trading-starts-may-14-deposit-now/