Decentralized Derivatives Trading Platform Rabbit X Launches ARB-USD Perpetual Contract
On March 23, it was announced that the decentralized derivatives trading platform Rabbit X would launch an ARB-USD perpetual contract with a leverage ratio of up to 20 times on Mar
On March 23, it was announced that the decentralized derivatives trading platform Rabbit X would launch an ARB-USD perpetual contract with a leverage ratio of up to 20 times on March 23. Rabbit X is the first decentralized derivatives trading platform on Starnet.
Rabbit X will go live ARB perpetual contract
Introduction
Decentralized finance (DeFi) has been on the rise, with new platforms offering various financial services like lending, borrowing, and trading. One of the latest platforms on the scene is Rabbit X, focusing on decentralized derivatives trading.
What is Rabbit X?
Rabbit X is a decentralized derivatives trading platform focused on providing traders with access to perpetual contracts. Unlike futures contracts, which have expiration dates, perpetual contracts don’t expire, allowing traders to hold positions indefinitely. With Rabbit X, traders can access a range of perpetual contracts, including Bitcoin (BTC), Ethereum (ETH), and now ARB-USD.
ARB-USD Perpetual Contract
On March 23, Rabbit X announced the launch of the ARB-USD perpetual contract. ARB is the native token of ArbiSmart, a cryptocurrency investment platform that offers automated trading. The ARB-USD perpetual contract on Rabbit X will allow traders to easily speculate on the price of ARB against the US dollar.
Furthermore, traders can leverage their positions up to 20 times, meaning they can trade with a much larger position than their account balance would allow. However, trading with leverage can magnify gains but also losses, making it a high-risk strategy.
Why Use Rabbit X?
Rabbit X offers several benefits for traders looking to access derivatives markets. Firstly, it’s a decentralized platform, so traders don’t need to trust a centralized authority to hold their funds or execute trades. Secondly, the platform offers perpetual contracts, which don’t have expiration dates, eliminating the need to regularly roll over positions. Lastly, traders can leverage their positions, potentially magnifying their gains.
How to Get Started with Rabbit X
To start trading on Rabbit X, traders need to connect their wallets, such as MetaMask or Ledger, to the platform. Once connected, they can deposit their chosen cryptocurrency and start trading. Rabbit X doesn’t charge any fees for trading, but traders will need to pay gas fees on the Ethereum network for each transaction.
Why Rabbit X is Significant
Rabbit X is the first decentralized derivatives trading platform on Starnet, making it a unique addition to the world of decentralized finance. It offers traders a range of perpetual contracts with large leverage options, making it an interesting option for those looking to speculate on cryptocurrency prices.
Conclusion
Rabbit X’s launch of the ARB-USD perpetual contract with a 20x leverage option is a significant addition to the world of decentralized finance. The platform’s decentralized nature and the ability to leverage positions offer traders a unique way to access derivatives markets.
FAQs
What is a decentralized derivatives trading platform?
A decentralized derivatives trading platform is a platform where traders can trade derivative products, such as futures and options, without the need for a central authority to hold their funds or execute trades.
What is a perpetual contract?
A perpetual contract is a type of derivative product that doesn’t have an expiration date, allowing traders to hold positions indefinitely.
What is leverage?
Leverage is the use of borrowed funds to increase the size of a trade. Traders can leverage their positions to potentially magnify their gains but also their losses.
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