Poloniex Adds 3 EOS Markets – EOS/USDT, EOS/BTC, EOS/ETH

On Tuesday, August 1, 2018, it was revealed that Poloniex will be adding EOS/USDT, EOS/BTC, and EOS/ETH markets.

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On Tuesday, August 1, 2018, it was revealed that Poloniex will be adding EOS/USDT, EOS/BTC, and EOS/ETH markets.

The announcement was made by Circle, the Boston-based payments startup and the owner of Poloniex.

The EOS addition comes shortly after Circle announced the Circle Asset Framework, a tool for prioritizing new crypto asset listings across various products and subsequently delisted 9 digital assets from Poloniex.

The Circle Asset prioritizes the listing of new assets on the platform while taking into account the: fundamentals, people, business model, technology and market dynamics of the assets. This is similar to Coinbase‘s digital asset listing model.

The listing of EOS tokens on Poloniex while a great plus for EOS and its community is not wholesome, and may take some time before that status is achieved. Circle said in the announcement:

“At this time, we are only planning to support EOS MainNet tokens and will not be accepting deposits of the ERC-20 variant or providing conversion to MainNet tokens. In addition, we will not be supporting EOS airdrops for the time being.”

So EOS holders who still have the initial ERC20 tokens handed out by the project in course of its yearlong ICO would not be able to deposit them on Poloniex until they are swapped for the EOS MainNet tokens.

The EOS listing is strategic

The listing of EOS comes just a week after the payment startup released the Circle Asset Framework, to help Poloniex prioritize the listing of various digital assets on the platform.

In the announcement stating the listing of EOS, Circle suggests that it is part of the Circle Asset Framework. The payment startup noted in the announcement:

 “We improved deposit and withdrawal reliability, updated our customer onboarding process and cleared over 175,000 legacy support tickets. We are NOW also investing in new ways to grow Poloniex into a premiere destination for crypto asset trading — the addition of EOS is just the first step.”

The EOS MainNet tokens aim to support industrial-scale applications and claims to eliminate transaction fees and be capable of conducting millions of transactions per second.

The future of Circle

In a bid to build “the US’s first regulated crypto exchange,” Circle acquired Poloniex in February of this year, for an undisclosed amount. In a recent PR talking about the exchange platform Circle noted that:

“Since acquiring Poloniex five months ago, we’ve primarily focused on improving the core product EXPERIENCE and stabilizing the performance of the exchange,”

According to a recent document, Circle is going about building a platform that supports all forms of emerging crypto tokens, including tokens that would be deemed securities. The recent Circle Asset Framework is in line with this goal.

Although the idea may seem farfetched, Circle has gone about the task quietly and precisely. In 2015, Circle received its BitLicense from the New York State Department of Financial Services.

After receiving its BitLicense, Circle launched a Bitcoin blockchain-based remittance and a messaging application called CENTRE, formerly known as Spark, in December 2016.

The payment startup company also offers several other products including Circle Pay, a mobile app that allows users to hold, send, and receive fiat currencies,

Circle Trade, an over-the-counter digital asset trading platform for institutions and large investors amongst others.

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