KEY TAKEAWAYS
- Kraken has launched trading for two new tokens, LOCK IN and Michi, on its platform.
- Both tokens are available for trading against USD and EUR, with specific trading parameters set for each.
- LOCK IN and Michi are Solana-based memecoins, each offering unique community engagement tools.
- Trading for these tokens is restricted in Germany and will expand to Kraken App and Instant Buy once liquidity conditions are met.
Kraken has announced the addition of two new tokens, LOCK IN and Michi, to its trading platform. Trading for these tokens went live at 15:00 PM UTC on January 21, 2025. This development was announced on Kraken’s official blog.
To trade these new assets, users can navigate to the Funding section of their Kraken account, select the desired asset, and proceed with the deposit. It is crucial for users to deposit tokens into networks supported by Kraken, as deposits made using unsupported networks will be lost.
Trading Parameters and Availability
The new tokens are available for trading on both Kraken and Kraken Pro platforms. Michi can be traded against USD and EUR with a price decimal precision of 0.0001, a minimum order size of 25, and a minimum deposit of 25. LOCK IN is also tradeable against USD and EUR, with a price decimal precision of 0.00001, a minimum order size of 100, and a minimum deposit of 100.
Trading via the Kraken App and Instant Buy will become available once liquidity conditions are met, meaning a sufficient number of buyers and sellers must be present for efficient order matching. It is important to note that both LOCK IN and Michi are not available for trading in Germany (DE).
Understanding LOCK IN and Michi
LOCK IN is a memecoin inspired by the crypto community’s phrase “to lock in,” which refers to holding a token with strong conviction. The project offers a PFP (Profile Picture) generator on its website, allowing users to overlay their profile pictures with LOCK IN branding. LOCK IN is a Solana-based token, facilitating its storage and transfer on the Solana network.
Michi, another memecoin, is based on an image of a cat, celebrated as “the most memeable cat on the Internet.” The Michi project provides a “Michi Meme Maker” tool for creating memes featuring the iconic cat. Like LOCK IN, Michi is a Solana-based token, enabling its transfer and storage on the Solana network, although it does not have any specific utility.
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