Hong Kong-based cryptocurrency platform Crypto.com announced the launch of its much-awaited Derivatives Exchange today. According to the official announcement, the derivatives exchange uses a new matching engine that supports a phenomenal matching speed of 2.7m TPS. This will position Crypto.com’s Derivative Exchange as a go-to platform for high-frequency traders. That’s because the new exchange is capable of handling high levels of demand especially during periods of extreme volatility.
Additionally, the platform also supports ultra-low core latency of 50 microseconds. By reducing excess latency, Crypto.com Derivatives Exchange will enable trading based on accurate and up-to-date trading information.
50x Leverage | Discounted Fees and much more
The Derivates Exchange launched with the BTCUSD Perpetual Contract which will use USDC as margin. While the traders can leverage up to 50x, the CRO holders can enjoy discounts on trading fees. This is based on the amount of CRO they have staked in the exchange.
As it is a perpetual contract, there is no expiry date for the trader’s position. A trader can hold his position as long as he desires.
https://t.co/vCNztABJoG Launches Derivatives Exchange:
⚡New, highly scalable architecture
⚡Matching Engine with 2.7m TPS
⚡Ultra low core latency of 50 microseconds
🔥Get 50x leverage with the BTCUSD Perpetual Contract
— Crypto.com (@cryptocom) February 18, 2021
3 steps to derivative trading
As always, Crypto.com has delivered a very intuitive product for its users. The users can start derivative trading in just 3 steps:
- Create a Derivatives Wallet on Crypto.com
- Transfer USDC for margin the Derivatives Wallet
- Start trading!
According to the official blog, the traders will have to undergo advanced level verification before they start using the platform. This would require traders to submit details like:
- Legal name
- ID verification (passport, national ID or driving license)
- A trader selfie
However, the traders from the countries mentioned in the link cannot participate in the Perpetual Contract trading offered by Crypto.com.
Crypto.com Chain Mainnet Launch
In another update, Crypto.com’s mainnet Dry-run event Crossfire also ended successfully. According to the official tweet, over 3000 validators completed over 275 million transactions. To keep the excitement high, Crypto.com has announced a 100,000 CRO giveaway to the people who guess the correct mainnet launch date.
Following one of the most successful testnet events ever with ~3,000 validator applications and 275m transactions, we are now setting the Mainnet launch date.
— Kris | Crypto.com (@Kris_HK) February 18, 2021
In the last 24 hours, the CRO token has surged by over 15%. At the time of press, CRO is trading close to $0.11. If you are interested in crypto trading, do join Altcoin Buzz Signals Telegram Channel.
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