Coinbase Lists Perpetual Futures for GRAM, GRASS, QNT and ZRO on November 13

Coinbase will open perpetual futures markets for GRAM, GRASS, QNT and ZRO on November 13, 2026, with trading set to begin at or after 12:00 PM UTC. The exchange announced the move on November 11, giving traders a two-day runway before the contracts go live.

The lineup spans four very different networks: a messaging-app blockchain, a bandwidth-sharing network, an enterprise interoperability project and a cross-chain messaging protocol. The new markets will be open to both retail and institutional participants, with access running through Coinbase and Coinbase Advanced, the exchange's feature-heavy trading interface. Liquidity will also be drawn from Deribit in selected jurisdictions.

Deribit is running a parallel rollout of its own. It will list USDC-settled perpetual contracts for the same four tokens, and it will add a fifth, PEARL, that does not appear on the Coinbase list. USDC settlement means profits and losses pay out in the dollar-pegged stablecoin rather than in the token being traded.

What are perpetual futures, exactly?

Perps are derivative contracts that track an asset's price without ever expiring. They let traders bet on prices rising or falling without holding the underlying token. They also tend to involve leverage, which amplifies gains and losses alike.

For Coinbase, the listing is another brick in a derivatives menu the exchange has been building out steadily. The launch lines up with a broader push from Coinbase Prime, the company's institutional arm, to widen institutional access to crypto markets.

Four tokens, four very different bets

Each contract points at a distinct corner of the industry.

• GRAM is the native token of The Open Network. It traded as Toncoin (TON) until a rebrand in June 2026, and the network has been integrated with Telegram.
• GRASS powers a Solana-based DePIN network. The resource in GRASS's case is unused internet bandwidth, which the network uses for AI-driven data collection. The token has a fixed supply of 1 billion.
• QNT sits behind Quant Network's Overledger, a system built to help enterprise blockchains talk to each other. QNT pays for Overledger licensing and Fusion Rollup fees, and its fixed supply sits at roughly 14.6 million tokens.
• ZRO is the governance token for LayerZero, a cross-chain messaging framework that lets separate blockchains pass messages and instructions between one another. ZRO holders get a say in how the protocol is governed.

What does this change for traders?

The markets are not being built on empty ground. Open interest for ZRO and QNT on other platforms already runs into the tens of millions of dollars. That means Coinbase and Deribit are competing for flow that exists today, not speculating on demand that might materialize later.

For holders of these four tokens, the practical shift is straightforward: two-way leveraged exposure arrives on a major regulated venue. Shorts become cheaper to run. Hedging gets easier. And the Deribit variants add a USDC-settled option for traders who prefer stablecoin payouts over token-denominated ones.

Watch the November 13 open. Early liquidity on day one, particularly against the existing open interest on rival platforms, will show whether Coinbase's distribution and Coinbase Prime's institutional push can pull real volume away from venues that already price these tokens around the clock.