Exchange Upbit, the leading cryptocurrency in Korea, has announced that it will begin offering support for the Ethereum-based digital assets Newton Protocol (Newt) for KRW (Korean WON), BTC and USDT trading pairs.
Upbit announces new trading pairs for Newton Protocol (Newt): support begins at KRW, BTC and USDT Markets
According to Upbit, Newt can be sent and received via the Ethereum Network. Transfers from other networks are not supported and even if such transactions are refunded, it may take a long time.
Additionally, all Newt deposits made prior to the reference price of the asset are determined on price tracking platforms such as CoinmarketCap. Even if Koreans exceed 1 million, they are subject to an additional verification process in line with the “travel rules.”
Starting and Limiting Processes
Upbit highlighted the following rules when opening a transaction:
- Purchase orders are not available for the first 5 minutes.
- The reference price for the lowest selling price will be announced.
- For the first two hours, only restricted orders are permitted, and markets and other order types will be temporarily disabled.
What is Newt?
Newton Protocol (Newt) is a project that provides an artificial intelligence-based automated agent infrastructure developed to promote user experience in the Web3 world. The platform works with AI agents that run goal-oriented commands that users provide in a secure and verifiable way.
Newt tokens are used within this ecosystem for:
- Staking (lock),
- Used as a payment method,
- It is used in functions such as governance participation.
Security and Compliance Notifications
The exchange has announced that Newt’s deposits and withdrawals will only be permitted from “verified wallet addresses.” Additionally, transfers from incompatible wallets may be refunded. For large transfers, users may be asked to provide funding documentation.
Upbit also announced the address for the official Newt contract, urging traders to be aware of network type, contract address and compatibility.
0xD0EC028A3D21533FDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD
With this development, Upbit continues to provide Korean crypto investors with early access to next-generation Web3 projects.
*This is not investment advice.