Poloniex cryptocurrency exchange has announced the beginning of support for the privacy-oriented Grin cryptocurrency.
Trades will be available in BTC / GRIN and USDC / GRIN pairs. The possibility of making deposits is already available to users, withdrawals will be available in the coming weeks.
The Seattle-based exchange also says that in the next 12 months, a part of all commissions that will be received as a result of transactions with cryptocurrency will be sent to the Grin Development Fund. In the first month of trading it will be 50%, in the following months - 25%.
We hope to see these funds support ongoing security audits, developer campaigns, bug bounties, open-source development of Grin ASIC design and general endeavors that strengthen the Grin ecosystem. This program will be reassessed after 12 months.
Digital Assets Lead, Poloniex
The exchange also notes that due to the peculiarity of Grin transactions that do not have public addresses, users are offered two ways to deposit funds, which should ensure maximum security and simplicity.
The first method involves the use of a URL, reducing the process of depositing funds to one step. It is best suited to those who want maximum simplicity, and will also be useful when transferring funds from mining pools or from other exchanges.
The second method is more complicated and assumes that Poloniex and the user exchange a unique file before initiating the translation of a transaction on the Grin network. This method is intended for more advanced technical users, as well as for those who want to use Poloniex as a Grin wallet for p2p transactions.