February 27, 2024

DeFi Token Futures Available on Binance Futures

DeFi Token Futures Available on Binance Futures

Cryptocurrency exchange Binance Futures offers 50x leverage on DeFi token trading.This is the firsta derivative product for Binance's composite indices that makes it easy to track the fast-growing decentralized finance market.

USDT-margin DeFi index isa collection of decentralized finance protocol tokens added to Binance. It is calculated using the weighted average of the prices of tokens on a given exchange in real time.

The following DeFi protocols will be included in the index:

  • COMP, Compound - MKR, Maker
  • BAND, Band Protocol - LINK, Chainlink
  • KAVA, Kava.io - SNX, Synthetic Network Token
  • KNC, Kyber Network - SXP, Swipe
  • LEND, Aave - ZRX, 0x

You can register on the Binance Futures platform here https://www.binance.com/en/futures/

Binance Futures is at the forefront of developing new products for users

According to vice president of the platform Aaron Gong, it offers about 50 futures pairs. This is the largest and most diverse set on the market.

"Feedback on DeFi derivatives is positive and it is clear that the demand for them is growing.USDT DeFi Index will make it easier for users to access the market and allowdiversify trading methods."

Index tokens and their weighted averagesrebalanced on a weekly basis. For this, data from CoinMarketCap is used. They reflect market conditions, including total capitalization, active transaction volume and unit price. This helps users track trends in the DeFi sector, similar to how it does with regular futures indices.

Binance founder and CEO Changpeng Zhao said the company thinks and develops strategically. It helps to improve the adoption of cryptocurrencies and benefit users.

"The USDT DeFi Index combines the convenience of working with a growing range of projects and the familiarity of a traditional product.This is a step forward in the use of cryptocurrency as well as the development of the DeFi sector."

DeFi Token Futures Available on Binance Futures