In this month’s report, we take a look at bitcoin, where it may go next as well as examine some interesting metrics from the NFT sector.

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Bitcoin Round Up

  • Markets seem to significantly favour of a break of bitcoin’s all-time high in the coming months, as key technical barriers have been eliminated in recent weeks. First of all, the bitcoin price has made a strong move above the 2019 high at $13,880, clearing the $14,000 handle and reaching a yearly high just above $18,400 in the past 30 days.

Interdax is pleased to announce our fourth USDT perpetual contract: FIL-PERP-USDT.

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Our perpetual contract for Filecoin’s native token (FIL-PERP-USDT) is now available to trade with up to 100x leverage.

What is FIL?

FIL is the native token of Filecoin, a decentralised data storage network that lets users to sell their excess storage on an open platform.

The decentralised data storage network acts as the incentive and security layer for the InterPlanetary File System (IPFS), which is a peer-to-peer network for storing and sharing data files, turning the IPFS storage system into an algorithmic market. …


Our development update communicates what we’re working on at Interdax and an indication of when these new features will become available.

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October Updates

In October, the major developments were:

USDT Perpetuals Released

Three perpetual contracts margined and settled in Tether USD (USDT) were released in October for Chainlink’s LINK token, Uniswap’s UNI token, and Avalanche’s AVAX token.

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USDT stablecoin perpetuals can be traded with continuous settlement and up to 100x leverage.

The contract specs for USDT perpetuals can be found here.

ETH-PERP Contract Specs Updated

The maintenance margin for ETH-PERP was reduced from 2% to 1% on October 12, permitting leverage of up to 100x (up from the previous limit of 50x).

Trade ETH-PERP with continuous settlement and up to 100x here.

Improved Liquidity

Our new Market Maker entered the production phase, and liquidity has been expanded across all instruments. As a result, the spreads are much thinner for all trading instruments. …


An overview of two promising Layer 2 (L2) solutions for Ethereum.

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Introduction

Decentralised Finance (or DeFi) and the yield farming craze have developed new use cases and brought in new players, with more smart contracts being deployed to the Ethereum network. With the launch of new DeFi applications and the growing popularity of Uniswap, external smart contract calls more than doubled between the start of 2020 and August.

Figure 1: External Smart Contract Calls on Ethereum

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More attention garnered more on-chain activity, but as we’ve seen in the past few months, fees become expensive and the confirmation time of a transaction increases when Ethereum approaches the limit of ~15 transactions per second (tps). …


NFTs gain attention and traction as the DeFi hype takes a breather in September.

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NFTs Round Up

  • Interest in Non-Fungible Tokens (NFTs) gained ground in September as a crossover between yield farming and NFTs emerged. NFTs were initially made popular by virtual games such as CryptoKitties which tokenised digital pets and can be used to represent art, in-game assets, collectibles and much more. Following on from the introduction of governance tokens in the DeFi space, NFT projects have started to issue governance tokens as well which has revived the hype surrounding NFTs. …

Interdax is pleased to announce a continuously settled perpetual contract for Avalanche’s AVAX token: AVAX-PERP-USDT.

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AVAX-PERP-USDT is now available to trade with up to 100x leverage.

What is AVAX?

AVAX is the capped supply native token of Avalance, which launched its mainnet on September 21. Participants can become full block-producers and validators by staking AVAX and are incentivized to do so because of staking rewards.

Trading AVAX-PERP-USDT on Interdax

Interdax’s AVAX perpetual contract is margined and settled in USDT. The contract specs for AVAX-PERP-USDT can be found here.

The fee structure for AVAX-PERP-USDT is the same as our other perpetual contracts: maker fees are 0.00% …


Interdax is pleased to announce a continuously settled perpetual contract for UNI: UNI-PERP-USDT.

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UNI-PERP-USDT is now available to trade with up to 100x leverage.

What is UNI?

UNI was introduced on September 17, 2020 as the governance token of the largest decentralised exchange on Ethereum, Uniswap.

The main use of the token is to vote on changes to the Uniswap protocol, where eventually only UNI token holders will make governance decisions. Users can earn UNI by staking tokens in certain pools, which is known as yield farming.

Trading UNI-PERP-USDT on Interdax

Interdax’s UNI perpetual contract is margined and settled in USDT. …


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Interdax is pleased to announce our third continuously settled perpetual contract: LINK-PERP-USDT.

LINK-PERP-USDT is now available to trade with up to 100x leverage.

What is Chainlink (LINK)?

LINK is the native asset of the Chainlink, a decentralised oracle network bridging real-world data with smart contracts on the blockchain. The rapid growth of Decentralised Finance (DeFi) has positively impacted Chainlink’s token, which currently has a market capitalisation of more than $3.3 billion.

Trading LINK-PERP-USDT on Interdax

Interdax’s LINK perpetual contract is margined and settled in USDT. The contract specs for LINK-PERP-USDT can be found here.

The fee structure for LINK-PERP-USDT is the same as our other perpetual contracts: maker fees are 0.00% …


Our development update communicates what we’re working on at Interdax and an indication of when these new features will become available.

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September Updates

In September, the major developments were:

ETH-PERP Trading Goes Live

ETH-PERP was released to the Interdax testnet on September 16, along with ETH deposits/withdrawals. Our second trading instrument, ETH-PERP, was launched on mainnet shortly after on September 18.

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The ETH-PERP perpetual contract can be traded with up to 50x leverage, while using ETH as underlying collateral and with the benefits of continuous settlement.

Trade ETH-PERP on Interdax with up to 50x here.

Tether Wallets Enabled

On September 25, USD Tether (USDT) wallets were enabled, along with deposits and withdrawals for the stablecoin. …


What is a Discreet Log Contract? In simple terms, Discreet Log Contracts (or DLCs for short) enable bets to be made on an outcome with trust-minimised execution using Bitcoin.

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The main innovation behind DLCs is that smart contract are made scalable and private, while also allowing the parties to determine the outcome of a contract without involving the oracle, trusting a third-party or each other.

Most smart contracts that exist on blockchain networks today require on-chain interactions. Whenever the demand for block space is high, interacting with these smart contracts means high fees and/or long waiting times are involved. …

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