Bitfinex Derivatives Launches EOS, Litecoin, Polkadot Contracts
- The addition asserts Bitfinex’s intentions of expanding into the crypto-derivatives market.
- The inclusion of the new crypto derivatives contracts comes after last month’s listing of Europe 50 and Germany 30 perpetual swaps, offering exposure to established equity markets.
Illustration from Shutterstock
On October 12, 9:00 A.M. UTC, Bitfinex launched 3 new derivative contracts – EOS (EOSF0:USTF0), Litecoin (LTCF0:USTF0), and Polkadot (DOTF0:USTF0) – according to a press release shared with The Chain Bulletin. The newly-added perpetual swaps come in as a proactive response to the progressing market for altcoin listings.
“We’re delighted to announce the addition of EOS, Litecoin, and Polkadot to the growing portfolio of perpetual swaps available to trade on the exchange,” said Paolo Ardoino, CTO at Bitfinex Derivatives. “We anticipate great interest in these products among funds and professional investors for hedging purposes and to manage risk.”
In the press release, Bitfinex said that the community can find further details on the perpetual swaps on their website, revealing the specifics of each cryptocurrency transaction and providing practical examples to illustrate the process. According to the information, the derivatives contracts will have a Linear Pay-off Type with a minimum order size of 0.01 and standard transaction fees.
At present, 10 other derivative products are currently listed on Bitfinex Derivatives, of which only 5 are crypto-related, including Bitcoin/Tether, Ether/Tether, Tether Gold/Tether, Ampleforth/Tether, as well as Bitcoin Dominance Index (BTCDOMF0:USTF0). The addition of EOS, Litecoin, and Polkadot will increase the range of blockchain-based digital assets pairs on the platform.
- The EOS Network Foundation is calling on the EOS community to opt-out from the proposed settlement as it “does not adequately compensate” for the losses caused by Block.one.
- Not only are the $22 million a tiny fraction of the $4 billion raised during the EOS ICO, but the settlement will also bar community members for filing future complaints against the company.
Image of an EOS crypto token. Bybit / Flickr
- The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against trading platform eToro over its contract for difference (CFD) product.
- The regulator claimed the product’s target market was too broad, and that eToro used insufficient screening tests when offering the leveraged derivative contracts to retail users.
- Called Coinbase International Exchange (CIE), the new platform will allow institutional users outside of the U.S. to bet on the price of crypto via perpetual futures.
- The platform will not be available to retail customers “at this time”, and will initially provide trading of only BTC and ETH perpetual futures, settled in the USDC stablecoin.