We are excited to bring leveraged long (LBTC) and short (SBTC) bitcoin to traders on DDEX starting July 19th!
There have already been some great trades with MARKET Protocol as Bitcoin neared $14,000 a few weeks ago. Now traders on DDEX have an opportunity to trade BTC/DAI while remaining on the Ethereum blockchain through the same intuitive UI they already use. All collateral is stored safely on chain.
Since launching two weeks ago we’ve seen over 150 trades and $50k+ in volume.
We look forward to bringing new trading opportunities to DDEX traders.
MPtools is now live and provides an easy way to see trade stats like leverage, maximum gain, and max loss.
About MARKET Protocol:
BTC/DAI tokens are powered by MARKET Protocol, which enables users to mint tokenized assets like NASDAQ shares, a crypto VIX, or even leveraged derivatives like 2x BTC Short — all as tokens. Built using smart contracts which enforce token rules that ensure there is no counterparty risk. Our protocol never auto-deleverages, socializes losses or changes the contract rules.
DDEX, a Beijing-based decentralized cryptocurrency exchange, is the first decentralized exchange built on Hydro Protocol technology, offering instant, real-time order matching with secure on-chain settlement directly from users’ wallets. The trading on DDEX occurs directly between buyers and sellers in a peer-to-peer (P2P) network via an automated process. DDEX is a leading decentralized exchange, making up 5.63% of all DEX trading transactions ever recorded by Etherscan (as of April 26th).