🔥 XRP Holders Can Now Trade Options Using Flares FXRP as Collateral.
Source: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Derive now accepts Flares FXRP as collateral for XRP options and perpetual futures. Users can trade through their own wallets without relying on a centralized exchange. Options settle in USDC, exposing traders to margin and liquidation risks. XRP holders can now use Flares FXRP as collateral to trade options and perpetual futures on decentralized exchange Derive, Flare announced on Thursday. According to Flare, users mint FXRP, a token representing XRP on the Flare blockchain, through its FAssets bridge that converts tokens like Bitcoin, XRP, and Dogecoin into ERC-20 tokens on the Flare network.
They can then deposit the token into a Derive Portfolio Margin V2 account and trade derivatives from their own wallets. Options give traders the right to buy or sell an asset at a set price. Perpetual futures allow them to bet on price movements without an expiration date. XRP holders can use the products to hedge against losses, earn premiums by selling options, or speculate on the tokens price. Options are often the last major market to develop around an asset, and XRP has been waiting for the infrastructure, founder and CEO of Derive, Nick Forster, said in a statement.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#StablecoinLiquidity #EthereumUpgrade #DeFiProtocol
Source: Shutterstock/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Derive now accepts Flares FXRP as collateral for XRP options and perpetual futures. Users can trade through their own wallets without relying on a centralized exchange. Options settle in USDC, exposing traders to margin and liquidation risks. XRP holders can now use Flares FXRP as collateral to trade options and perpetual futures on decentralized exchange Derive, Flare announced on Thursday. According to Flare, users mint FXRP, a token representing XRP on the Flare blockchain, through its FAssets bridge that converts tokens like Bitcoin, XRP, and Dogecoin into ERC-20 tokens on the Flare network.
They can then deposit the token into a Derive Portfolio Margin V2 account and trade derivatives from their own wallets. Options give traders the right to buy or sell an asset at a set price. Perpetual futures allow them to bet on price movements without an expiration date. XRP holders can use the products to hedge against losses, earn premiums by selling options, or speculate on the tokens price. Options are often the last major market to develop around an asset, and XRP has been waiting for the infrastructure, founder and CEO of Derive, Nick Forster, said in a statement.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#StablecoinLiquidity #EthereumUpgrade #DeFiProtocol