Coinweb announces $CWEB listing on 6 major exchanges

By Joy Dumasia

Coinweb announces the long-awaited listing of its token, $CWEB, on six major exchange platforms – KuCoin, Gate.io, BitMart, MEXC Global, Bittrex Global, and Uniswap. Kucoin’s World Premiere listing will take place at 10 am UTC on 30th December 2021, with the other exchanges listing after that, supported by leading liquidity provider Skynet Trading.

Initially launched as an ERC-20 token, the $CWEB token will fuel Coinweb’s cross-chain computation platform, taking blockchain interoperability to the next level at the full Mainnet launch planned in 2022.

$CWEB is a blockchain agnostic utility token used for gas fees in Coinweb’s high-capacity execution layer, powering parallel processing of reactive intelligent contracts and cross-chain transactions. $CWEB removes interoperability overhead by allowing frictionless access to different heterogeneous chains with uniform fee payments across all connected chains. $CWEB also enables light clients to prove state across other chains and serves as an apex token to provide liquidity and security for expedited cross-chain operations. 

The Coinweb smart contract’s ability to keep $CWEB gas balances and observe real-time changes happening in underlying Layer 1 chains, combined with the refereed delegation of computation, allows deterministic computation on information from multiple chains with only one honest node required for correctness. $CWEB is also used to pay incubator fees for Coinweb’s incubated projects.

Toby Gilbert, the CEO, said: “The listing of $CWEB on these top cryptocurrency exchanges marks another milestone for us here at Coinweb, which we are all excited about. The relationships with KuCoin, Gate.io, MEXC Global, Bittrex Global, BitMart, and Uniswap, each with an established reputation and their own key features, materialized as an important strategy for us to be listed on platforms where it can be readily accessed by users globally. Skynet Trading, one of the leading liquidity providers worldwide, will be the running point on our trading strategy. Our team and I really appreciate the support and patience our community has shown over the past 4 years to get to this point.”