Perpetual contract service of Bitfinex
Bitfinex CTO Paolo Ardoino announced the addition of perpetual contracts, saying,
We’re delighted to announce the addition of IOTA, Chainlink, and Uniswap…We anticipate great interest in these products, particularly among funds and professional investors for hedging purposes and to manage risk.
Specifically, users can now access these additional perpetual contracts for Chainlink (LINKF0:USTF0), IOTA (IOTAF0:USTF0), and Uniswap (UNIF0:USTF0). According to CoinGecko, Chainlink is trading at $13.22; IOTA is at $0.25; and Uniswap is at $3.37, at the time of writing.
Bitfinex has allowed users to access the derivatives section from November 18. It will manage all orders through the stablecoin Tether (USDT). However, the maximum leverage is 100x. Each crypto has its own respective minimum.
However, the exchange’s perpetual contract service is available only in specific jurisdictions and not in all countries. Also, it is solely for users with approved Know-Your-Customer (KYC). This is a noteworthy expansion of contracts and a source of pride for the exchange.
Bitfinex is a veteran cryptocurrency exchange. Moreover, the exchange is well suited for advanced traders. According to Coingecko, Bitfinex’s volume in the last 24 hours is $346 million, at the time of writing.
Further, there are several other crypto contracts available on the Bitfinex exchange. These include EOS, Litecoin (LTC), and Polkadot (DOT). Moreover, it also provides contracts for precious metals such as silver, Tether Gold, etc. This indicates that it is not only a platform for digital assets, but also for goods and commodities.