BTC/ETH Live on Futureswap V4
We are excited to announce that you can now trade up to 31x leverage on BTC/ETH with Futureswap V4! Thank you to our supportive community and developers for all of the help and testing that you’ve done.
BTC/ETH is Futureswap’s second exchange. This marks an important turning point where adding new exchanges is now significantly easier. The protocol is now one step closer to being completely permissionless where anyone can list any token pair. This is made possible by keeping each exchange completely isolated from all other exchanges, which at the same time removes the threat of one malicious token being listed and draining other exchanges.
BTC/ETH will allow for many different trading strategies that would not be feasible on a BTC/USDC exchange. The most notable one would be a flippening bet. With ETH as collateral you can deposit ETH and short BTC at 1x thus making a price prediction on ETH’s value flipping everyone’s favorite pet rock. This is much more similar to how Bitmex had BTC as collateral.
Due to BTC/ETH’s correlated nature, Uniswap V3 liquidity will need significantly less active management from LPs (market makers) which will further increase capital efficiency. Liquidity providing will be much more open to everyone and not just active market makers. Ideally, this will attract more liquidity in addition to allowing Futureswap to issue fewer FST incentives to attract an equal amount of liquidity compared to BTC/USDC.
All fees are paid in the collateral of the specific exchange, which means that the Futureswap treasury will be accruing ETH from all trading activity on the BTC/ETH exchange. This treasury is controlled by FST token holders. For more details, see our post on decentralization in Futureswap.
Go check out the new BTC/ETH pool!
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