Supercharge Exposure: Sophisticated Traders Get Access to eGold Perpetual Contracts On FTX, Alongside TSLA, AAPL, AMZN Tokenized Stocks

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Beniamin Mincu
·
Jan 07, 2021
·
2 min read

Futures contracts are used by advanced traders to settle the price of the underlying assets at a specific price on a specific date in the future.

Perpetual futures are a flavor of futures contracts that do not have an expiration date and are priced closer to the real-time value of the underlying asset. They allow sophisticated traders to engage with assets in a more direct manner and follow the market trends closely.

It’s a great way of staying long on an asset without periodically rolling over contracts. It also offers more flexibility and can be leveraged.

We’re therefore excited to announce that eGold perpetual contracts have been enabled on the highly popular derivatives exchange FTX, alongside tokenized stocks such as Tesla, Google, and Amazon.

“We have everything ready. Supercharging exposure for the Elrond ecosystem is what will drive the next major adoption wave. The vibrant and highly productive Elrond and FTX ecosystems connect at a pivotal moment for the blockchain space, opening up a broad spectrum of exciting collaboration opportunities.” said Beniamin Mincu, Elrond CEO.

FTX is a digital assets trading platform that has rapidly established itself as a leading derivatives exchange. It has daily volumes exceeding $5 billion dollars and its underlying token FTT is ranked in the top 50 by market capitalization.

The exchange is part of a broader ecosystem that originated with cryptocurrency trading firm Alameda Research. FTX has recently acquired Blockfolio, launched the Serum DEX, and its CEO Sam Bankman-Fried is a well-known figure in the blockchain space.

The listing is important for the Elrond ecosystem because sophisticated traders gain a powerful product to further manage their eGold exposure in a convenient and lucrative way.

EGLD on FTX: https://ftx.com/trade/EGLD-PERP

About Elrond

Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

About FTX

FTX is a cryptocurrency derivatives exchange built by traders, for traders. The platform strives to build a platform powerful enough for professional trading firms and intuitive enough for first-time users. FTX supports quarterly and perpetual futures for all major cryptocurrencies, leveraged tokens and OTC.


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Written by
Beniamin Mincu
CEO, Elrond Network