Aug 24, 2020 at 16:36 UTCUpdated Aug 24, 2020 at 18:48 UTC
CME Trading Floor (Joseph Sohm/Shutterstock)
Antigua and Barbuda-based FTX announced Monday a futures index for the top 100 liquidity pools on Uniswap, the largest decentralized exchange by traded volume.
- “We’ve seen large demand from customers to get exposure to a broad base of DeFi (decentralized finance) products,” CEO Sam Bankman-Fried told CoinDesk in a private message.
- The futures index allows traders to use a traditional cryptocurrency exchange to access markets native to the new decentralized trading platform, while paying lower fees and using leverage.
- The index provides traders on FTX, the leading cryptocurrency exchange by order book liquidity, with “exposure to 100 markets without paying gas fees 100 times,” Bankman-Fried told CoinDesk, referencing skyrocketing network fees on the Ethereum blockchain.
- Surging demand to trade on Uniswap pushed the trading platform’s volume in August above its July record high in less than two weeks.
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