ANIME launching on South Korea’s Upbit Jan. 23

The native token of the Animecoin community is set to make its South Korean debut via Upbit on Jan. 23 at 22:00 KST after listing on Binance.

According to a recent notice, Upbit will launch the token inspired by the Japanese pop-culture phenomenon starting from Jan. 23 at 22:00 KST. The South Korean crypto exchange will provide trading support for ANIME paired with the Korean Won, Bitcoin and Tether. The token will be available on the Arbitrum (ARB) network.

Traders can start depositing and withdrawing ANIME at 22:00 KST. Upbit will announce the beginning of transaction support at a later time. However, due to the token’s newly launched status, the crypto exchange warned traders that the token may not have enough liquidity to guarantee a stable trading experience.

“Upbit will provide additional information on the trading support time through this notice 1 hour before the trading support time after sufficient liquidity is secured within the exchange,” wrote Upbit in the notice.

Buy orders for ANIME will be restricted to around 5 minutes after trading starts, while sell orders are restricted to for one hour. The base price for the Animecoin token will be announced one hour before trading officially begins.

Animecoin is also listed on other major crypto exchanges, including Binance, Bybit and OKX from Jan. 23.

According to the official description, ANIME is a “culture coin of the anime industry” meant to solve problems plaguing the animation industry such as fragmented consumer experience, limited fan participation, and outdated monetization models using a community-owned creative web3 network.

ANIME will be used as a gas and governance token for Animechain, the community’s web3 network scheduled to go live in Q1 of 2025. The project vows to introduce a series of original and third-party anime content, including games, merchandise, and NFTs.

The Animecoin foundation has prepared a total token supply of 10 billion ANIME tokens and an initial circulating supply of 7.69 billion ANIME. Around 50.5% of the total token supply will be allocated to the community and more than 20% will go to the team and company.