While the main trading platform Binance.com is trying to escape the latest “temporary maintenance” incident, Binance DEX has teamed up with cryptocurrency derivatives exchange FTX to launch trading pairs. margin (margin).
Binance's decentralized exchange has just announced that leveraged tokens designed for FTX trading platform will be available with Binance Coin (BNB) as well as paired with BUSD stablecoin.
Decentralized exchange, leveraged trading
8 pairs of trading with leveraged tokens based on Bitcoin (BTC), Ethereum (ETH), EOS (EOS) and XRP will be launched on Binance DEX. The first “bear” and “bull” contracts will be paired with Binance Coin, followed by the pairing contracts with BUSD.
Binance CEO Changpeng Zhao also announced the launch event on his personal Twitter page.
Trade with Margin on @Binance_DEX!
We support, invest and work closely with new exchanges that innovate! https://t.co/eHA0wUe866
– CZ Binance 🔶🔶🔶 (@cz_binance) March 4, 2020
These assets will broadcast Binance Chain in the form of BEP2 versions of leverage contracts. The first contract will have 3x leverage. This means that if Bitcoin gains 1% for the day, the BEP2-BULL contract will increase by 3%. On the other hand, if BTC declines by 2% during the day, the BEP2-BULL contract will decrease by 6%.
High profits and high risks
The margin option for Binance DEX is provided by FTX – one of the leading leverage exchanges. FTX was launched in 2019 by Alameda Research – a well-known liquidity provider and market maker.
Margin trading is a very risky option. Assets of this type can fluctuate dramatically in days, hours and even minutes. Therefore, you absolutely can earn huge profits in a short time, but conversely, you can quickly lose the same amount.
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According to U.Today
Translated by ToiYeuBitcoin