Switcheo Lists 3X Long Tezos Token (XTZBULL) & 3X Short Tezos Token (XTZBEAR)
3X Long Tezos Token (XTZBULL) and 3X Short Tezos Token (XTZBEAR) are now listed on Switcheo Exchange! Switcheo users are now allowed to trade XTZBULL and XTZBEAR against USDC.
About FTX Leveraged Tokens
3X Long Tezos Token (XTZBULL) is an ERC20 token which seeks a return that corresponds to 3 times the daily return of Tezos.
3X Short Tezos Token (XTZBEAR) is an ERC20 token which seeks a return that corresponds to -3 times the daily return of Tezos.
FTX Leveraged tokens are ERC20 & BEP2 tokens that have leveraged exposure to crypto. Using ETHBULL, a 3x long ETH token as an example, for every 1% ETH goes up in a day, ETHBULL goes up 3%; for every 1% ETH goes down, ETHBULL goes down 3%.
Users can buy leveraged tokens just like normal tokens on a spot market. However, there is no need for them to manage collateral, margin, liquidation prices, or anything that a normal margin user needs to manage.
To learn more about how the FTX leveraged tokens work, please read a detailed guide and walkthrough here.
Trade XTZBULL/USDC and XTZBEAR/USDC on Switcheo Exchange now!
Find out more about FTX here:
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This post was originally published on the Switcheo blog.
