BTSE exchange has announced the launch of the world’s first perpetual futures trading for US Decentralized Dollar (USDD) stablecoin. USDD is the world’s first overcollateralized decentralized stablecoin, and unlike standard futures, perpetual futures have no expiration date. In addition, futures trading on BTSE involves low trading fees, and you can use a combination of cryptocurrencies and fiat for both collateral and payment settlement. As a result, an increase in the number of people using BTSE could be on the horizon.
The addition of the USDD to the list of supported currencies furthers BTSE’s goal of converting traditional finance customers into DeFi customers. The use of risk management and hedging strategies, such as those offered by perpetual can help strengthen a portfolio’s resilience. This is particularly important and helpful during times of extreme volatility in the market conditions. The ability to gamble against the performance of an asset means traders can make money in a downturn by providing short exposure. Additionally, futures allow traders to leverage their positions.
BTC and ETH futures on the BTSE trade for more than $1.5 billion each day. BTSE’s Futures section, which includes perpetual futures for USDD, may be more appealing to experienced traders than its other offers. Users who are new to futures trading can access a variety of services and instructional materials, including the BTSE Testnet, tutorials, and a help center, to learn about the mechanics of futures.
The USDD is the newest stablecoin in existence, and it operates as an algorithmic stablecoin on the Ethereum, BNB Chain, and TRON blockchains. It pegs to the US currency of about 1:1. Since traders can use a mix of crypto and fiat for margin trading. To put it another way, this means that customers can use their unused assets to possibly generate more money, while reducing the need to convert such assets into collateral.
This post was last modified on Jun 13, 2022, 14:00 BST 14:00