Upbit officially lists Internet Computer (ICP) across three trading pairs, implementing limit orders and price range restrictions to stabilize initial market volatility, and introduces ICP's core value and token economic model as a decentralized cloud computing infrastructure.
Upbit officially began supporting Internet Computer (ICP) trading against the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) at 17:00 local time on March 11th. To ensure asset security, the platform reminds users to only deposit via the official Internet Computer protocol network. Transfers using other on-chain networks will not be credited, and subsequent recovery processes will be complex and time-consuming.
To ensure market stability during the initial trading phase, Upbit has implemented phased trading restrictions: For the first five minutes after trading begins, only limit orders will be allowed, and all market buy orders will be suspended. Simultaneously, during the same period, sell order prices must not be lower than 90% of the previous trading day's closing price to curb drastic fluctuations. Furthermore, only limit orders will be accepted within the first two hours of trading, further reducing the risk of market manipulation.
Internet Computer (ICP) is a decentralized network project aimed at restructuring cloud computing architecture. Its underlying technology seeks to eliminate dependence on traditional centralized cloud service providers (such as AWS and Alibaba Cloud), allowing developers to deploy and run complete applications directly on the blockchain, achieving truly decentralized computing power and data services. The network is driven by the ICP token, which powers the core economic model, allowing users to participate in network governance, stake to earn rewards, and pay for smart contract execution fees, building a full-stack decentralized ecosystem covering computing, storage, and services.
It is worth noting that ICP is not a traditional "application chain," but rather achieves scalable on-chain computing capabilities through its original Chain Fusion and Canister smart contract architecture, and is regarded by the industry as an important attempt to integrate blockchain and cloud computing.
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