Exploring New Crypto Assets on Coinbase: SHDW, TNSR, NEON, SAFE, and KARRAT

Coinbase has recently introduced five new crypto assets to its platform, each representing innovative protocols in the rapidly evolving blockchain and cryptocurrency space. In this blog post, we’ll delve into the unique features and potential use cases of these new assets: SHDW, TNSR, NEON, SAFE, and KARRAT.

1. SHDW (Shadow)

The Shadow ecosystem, developed by GenesysGo, is a decentralized physical infrastructure network. One of the standout features of the ecosystem is its decentralized data storage layer, Shadow Drive. The SHDW token is integral to the network, primarily used to pay for storage on Shadow Drive.

• Use Case: Paying for decentralized data storage on Shadow Drive.
• Key Features:
  • Privacy-Oriented: Emphasizes decentralized data storage to protect user privacy.
  • Scalability: Offers scalable data storage for decentralized applications.

2. TNSR (Tensor Protocol)

Tensor Protocol is an autonomous protocol on Solana, providing NFT marketplaces with access to deep liquidity. Tensor.trade, the leading NFT marketplace on Solana, is built on this protocol. TNSR, the protocol’s governance token, enables holders to vote on proposals and influence development.

• Use Case: Governance token for the Tensor Protocol.
• Key Features:
  • Deep Liquidity: Aggregates liquidity across NFT marketplaces on Solana.
  • Governance: TNSR holders can vote on the protocol’s future developments.

3. NEON (Neon EVM)

Neon EVM brings Ethereum Virtual Machine (EVM) compatibility to Solana, allowing Ethereum dApp developers to deploy on Solana seamlessly. With Neon EVM, developers can enjoy Solana’s low gas fees and high throughput without modifying their code. The NEON token is used for paying gas fees and participating in decentralized governance.

• Use Case: Utility token for paying Neon EVM gas fees and governance.
• Key Features:
  • EVM Compatibility: Enables Ethereum dApps to run on Solana.
  • Governance: NEON holders can vote on protocol proposals.

4. SAFE (Safe)

Safe provides an open-source and modular account abstraction stack for developers. It also serves as a multi-sig wallet service provider, requiring multiple approvals for transactions. SAFE tokens are used for governance, allowing holders to vote on SafeDAO proposals.

• Use Case: Governance token for SafeDAO.
• Key Features:
  • Multi-Sig Wallets: Supports wallets requiring permissions from multiple stakeholders.
  • Cross-Chain Compatibility: Available on Ethereum, Arbitrum, and Base.

5. KARRAT (KARRAT Protocol)

The KARRAT Protocol is a decentralized gaming infrastructure layer aiming to empower a community-driven environment for gaming and entertainment innovation. AMGI Studios, the creator of the popular game My Pet Hooligan, is an early ecosystem participant. The KARRAT token enables governance of the protocol, including both on-chain and off-chain voting.

• Use Case: Governance token for the KARRAT Protocol.
• Key Features:
  • Community-Driven Gaming: Focuses on nurturing gaming and entertainment innovation.
  • Governance: Allows holders to participate in the protocol’s governance.

These new crypto assets on Coinbase represent a new wave of innovation in decentralized finance and blockchain technology. Whether you’re looking for governance opportunities, decentralized storage solutions, or an easier way to deploy dApps, these tokens offer unique opportunities for participation in the evolving crypto landscape.