PancakeSwap, the largest decentralised trading platform on Binance Chain (BNB Chain) announced the launch of its new feature on its decentralised (dex) trading platform.
PancakeSwap perpetual trading features was launched in partnership with ApolloX, a dex perpetual service provider. Traders on PancakeSwap can enjoy deep liquidity and tight spread on a wide selection of futures contracts right away.
The trading infrastructure is designed with off-chain order-book matching and on-chain settlement, allowing important trading features like different types of orders (e.g. limit order, stop limit, post only) while maintaining the privacy and security of a DEX — i.e. does not require KYC, no intermediaries to interact with smart contracts.
PancakeSwap Perpetual Trading Features:
- Depositing $CAKE will give traders a 5% discount on trading fees.
- High security and anonymity of users
- No KYC is required to interact with smart contracts
Read Also: Do You Know What Is Regenerative Finance ( ReFi) In Crypto? A Finance Trend In Web 3.0.
What is Perpetuals Trading:
Perpetuals, perpetual swaps, or perps — short for perpetual futures contracts, are derivatives for trading the underlying asset with no expiration date.
It was first pioneered by BitMEX, it has become an important pillar in the cryptocurrency market. It allows users to trade on margin (trade using borrowed funds) and be capital efficient, i.e. rather than needing the capital to trade a large notional value of the underlying asset (say, 10,000 BTC), users can just deposit a part of the notional in the margin, leveraging their capital.
Users trade by predicting the future price of assets. Users trade on possible downtrend or uptrend which are SHORT and LONG respectively. A big new innovation in the DeFi ecosystem.
Discover more from DiutoCoinNews
Subscribe to get the latest posts sent to your email.
Nice project