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While the cryptocurrency market is maturing, a number of exchanges have started to offer cryptocurrency contracts. To marginalize trade on these platforms, users are forced to trust their cryptographic capital on centralized exchange portfolios. A new open source platform that uses the dYdX protocol, however, launched the first true method without trust to create short and leveraged positions for Ethereum .
ATTN: Opportunity for Eth haters!
On October 2, it is possible to shorten Eth with an Eth-based token on an Eth-based protocol using an Eth-based exchange!
Because Ethereum is not useful at all, this is a great opportunity!
Link: https: //t.co/EwZ4cFFdfw
– Ryan Sean Adams (@RyanSAdams) 18 September 2018
Seamless Smart Contract with short positions
The dYdX platform, on which Expo was built, it recently launched a $ 2 million seed round led by Andreessen Horowitz and other leading angel investors, including Coinbase CEO Brian Armstrong.
Ethereum tokens Short can be easily purchased via Metamask, with the final reverse mechanics of the protocol driving the token away from the trader. A recent press release issued by Expo states that the Expo token trading tokens will be listed on DEX as Radar Relay, with an additional number of exchanges to be added soon
In addition to offering Short checkers Ethereum Expo plans to launch a number of other margin trading tokens, including levered tokens that multiply profits when prices rise. Each marginal token issued by Expo is available for 28 days and each underlying asset is associated with a token that expires on the 15th and 30th of each month.
The founder of Expo wants to simplify margin trading
The Expo Short The token Ethereum is notable for the way it allows traders to access margin trading in the form of a simple ERC20 token – without registration processes, commissions, KYC requirements or the risk associated with centralized exchange trading.
In a recent interview with TechCrunch, the founder of dYdX Antonio Juliano outlined the future of the Expo platform, stating that cryptographic derivatives are mostly traded by "sophisticated dealers", a fact that the dYdX team plan to change to options or offer swaps:
"We think of more than just shorting your favorite sh * tcoin, we think of them as mature financial products."
Cover photo by Nicate Lee on Unsplash
Disclaimer: The opinions of our writers are exclusively their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate approve any projects that may be mentioned or linked in this article. Buying and exchanging cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the contents of this article. Finally, CryptoSlate assumes no responsibility in case of loss of money by trading cryptocurrencies.
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Author
Sam Town
Samuel is a freelance journalist, digital nomad and cryptic enthusiast of Bangkok, Thailand . As an avid observer of the rapidly evolving blockchain ecosystem, he is specialized in the FinTech sector and when he does not write he explores the technological landscape of Southeast Asia.
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