Cryptocurrency exchange Kraken has listed UNITAS, the native token of the Unitas Labs ecosystem, with trading and deposits now live on the platform.
Unitas Labs describes itself as a multi-chain yield infrastructure, meaning it is designed to operate across several blockchains simultaneously and generate returns for users holding on-chain assets.
The project underpins USDu, an overcollateralised stablecoin, a digital currency pegged to the US dollar and backed by assets worth more than the value of the coins in circulation, which generates yield through a strategy designed to remain neutral to market price movements.
Users can deposit UNITAS by navigating to the Funding section of their Kraken account, selecting the asset and pressing the deposit button.
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Kraken has warned users to deposit only via networks the exchange formally supports, as tokens sent over unsupported networks will not be recoverable.
Kraken cautions that trading via the Kraken App and Instant Buy will be enabled only after liquidity conditions are met, meaning a sufficient number of buyers and sellers must join the market. The company reiterated its policy to withhold details on future listings until shortly before launch and said available tokens and future announcements appear on its Listings Roadmap and social media profiles.
The recap
- UNITAS token is listed and available for trading on Kraken
- Deposits must use Kraken-supported networks or funds will be lost
- App and Instant Buy activate after liquidity conditions are met