Cryptocurrency exchange Bybit has announced the launch of the first-in-market USDC options for Ether and Solana.&
Bybit, one of the leading crypto exchanges in the world, announced on Monday, September 5th, that it had launched USDC options for Ether (ETH) and Solana (SOL) contracts.&
The exchange said this latest development comes after it launched its first-in-market, USDC-settled Bitcoin (BTC) contracts earlier this year.&
Bybit said its new ETH and SOL options contracts represent an important step in developing more ways for its users to increase their trading experience. To celebrate the launch of the futures, Bybit said it is offering up to 66% off trading fees for 30 days if a user registers before Oct. 4, 2022 10 AM UTC.
Once the options launch, Bybit users can trade ETH, SOL, and BTC options and perpetuals via portfolio margin. The portfolio margin adopts a risk-based model for experienced traders, including market makers and institutional clients, for optimized capital efficiency.
Bybit said the launch of options contracts in USDC means that its users can settle and trade with more certainty and ease without needing to own the underlying crypto asset.&
Furthermore, users don’t have to hedge the underlying collateral exposure as USDC is pegged to the value of USD. USDC is not subject to the volatility associated with other cryptocurrencies, the team added.
While commenting on this latest development, Ben Zhou, co-founder and CEO of Bybit, & said;
“Our users asked, and we answered. After the inauguration of our first-in-market, USDC-settled options earlier this year, adding ETH and SOL contracts was the natural next step. Our options platform is already a major competitor in the crypto trading helped by Bybit’s deep on-screen liquidity, minimal slippage, and robust >100K TPS trading capacity/matching engine.”
Bybit said all profits would also be calculated in USDC, making it easier for users to benchmark and calculate returns.
With options contracts, Bybit users are able to speculate on the future price in USD of an underlying asset and settle their trades in USDC. This is unlike a futures contract where the transaction is mandatory and has to be completed at the settlement date.
With the newly launched products, options contracts are optional and will expire without a transaction if the price on the settlement date is deemed unfavorable.&
Bybit has been around since 2018 and is one of the fastest-growing cryptocurrency exchanges in the world. &
The post Crypto exchange Bybit introduces the first-in-market USDC options for ETH and SOL appeared first on CoinJournal.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments