“We’re pleased to announce the following updates to the Derivatives Product Descriptions. The Product Descriptions now include EOS (EOSF0:USTF0), Litecoin (LTCF0:USTF0) and Polkadot (DOTF0:USTF0) perpetual contracts.”
Perpetual swaps have become a popular investment option for crypto traders. Unlike options and futures contracts, they have no expiry date and allow trading the derivative rather than the underlying asset. They also track closely the price of the underlying asset and are difficult to short.
Bitfinex Is Growing Its Perpetual Swaps Portfolio
The three digital assets bring to 8 the total number of crypto perpetual swaps derivative products on Bitfinex besides Tether pairs for Bitcoin, Ethereum, Ampleforth Dominance Index.
They will also be subject to Bitfinex derivative production description guidelines that govern the existing Perpetual Swaps Contract on the exchange. This includes guidelines for minimum order size, margin collateral, payoff type, length of the contract, price tick size, forced and position liquidation, and position termination.
Chief Technology Officer at Bitfinex Paolo Ardoino stated that the exchange expects great interest in the new listings from professional investors and funds for hedging and risk management.
“High-frequency traders account for about 80% volume on our platform. We are attuned to their requirements and see this offering as being able to enhance cross-asset trading strategies.”
Providing Deep and Reliable Liquidity
Bitfinex ranks among the top 10 crypto exchanges for spot trading volume and has been termed as one of the most secure exchanges. The exchange designed a cold wallet security feature to maintain 99.5% of customer funds offline. The feature gives customers individual wallet access, which can be reviewed openly on the blockchain.
The Hong Kong-based crypto derivative exchange is registered in the British Virgin Islands, operated and owned by iFinex Inc. It was founded in October 2012 to provide digital assets traders with state-of-the-art trading tools and cutting-edge technology.
Bitfinex also offers peer-to-peer financing, Over the Counter (OTC) market margin trading, lending, and staking services and seeks to be the best deep and reliable liquidity provider in its operational jurisdictions.
It recently launched EOSIO-based eosfinex, a new beta non-custodial digital assets exchange, and a portfolio management solution that aims to solve limited liquidity problems on the EOS blockchain ecosystem.