Delta Exchange (https://delta.exchange/), a digital asset derivatives exchange, announced today the launch of perpetual swaps on ALGO, VET, KAVA, and SNX. The contacts will allow users to trade ALGO, VET, KAVA, and SNX with up to 50x leverage, margined, and settled in USDT. Trading of ALGO, VET, KAVA, and SNX on Delta Exchange begins August 13, 2020, at 9:00 am EST.
Futures contracts allow traders to buy and sell assets at a specified price and date in the future providing a means of hedging and balancing risks while simultaneously providing an opportunity for traders to multiply profits. By offering perpetual swaps on ALGO, VET, KAVA, and SNX, Delta Exchange is delivering traders an opportunity to speculate and participate in the DeFi rally while providing large quantity token holders the possibility to hedge and manage their risk.
“The Cambrian explosion of the DeFi category has resulted in the influx of many users who are willing to actively explore functionalities such as lending-borrowing, staking, contributing to liquidity pools, and more,” said Pankaj Balani, CEO of Delta Exchange. “Delta has always strived to list leading Altcoin Futures & Perpetual Swaps contracts. With DeFi, we aim to do the same; by listing derivatives of leading and upcoming project tokens.”
The amount of money locked into various DeFi services has recently surpassed $4 billion, according to DeFi Pulse, while DeFi tokens continue to make radical moves on price charts, offsetting industry volatility. Amongst the coins listed, VET is one of the most mature and has a market cap that exceeds $1BN while KAVA the most recently launched coin has a market cap of $85 MN.
“We have received a number of requests from our trading community to list ALGO, VET, KAVA, and SNX,” continued Pankaj Balani, CEO of Delta Exchange. “The spot markets for these coins are decently liquid and they have a sizable market capitalization. Having Perpetual Swaps on these tokens adds a sense of risk mitigation that empowers the participants of the ecosystem to grow and engage more confidently.”
Beginning today, perpetual swaps for ALGO, VET, KAVA, and SNX will be available on Delta Exchange. More details can be found on the Delta Exchange blog or at https://www.delta.exchange/blog/.