The Futureswap exchange has launched perpetual swaps in test mode on Arbitrum’s Layer-2 scaling solution.
Tired of scam wick liquidations? On Futureswap V4, mark price = spot price, protecting traders during periods of high volatility.https://t.co/6Cm81aUP0k
— Futureswap (@futureswapx) October 11, 2021
Derivatives on Futureswap allow traders to open long and short positions with no expiry date and leverage up to 30x.
The platform initially operated on Ethereum. According to the developers, the new version of the exchange (v4) based on Layer-2 solution (L2) will launch this week.
Arbitrum leads in TVL among L2 projects, with TVL.
Trading volume since launch in April 2020 has reached $4.2 billion.
According to The Block, Futureswap raised $12 million in investments from Ribbit Capital, Framework Ventures, True Ventures and Placeholder following its Series A financing round.
In the previous two rounds, the project raised a total of $1.6 million. Now the total amount of funds raised by Futureswap stands at $13.6 million.
Earlier, the Polkadot-based derivative exchange dTrade attracted $22.8 million from Polychain Capital, Alameda and other investors.
Earlier, FTX’s head Sam Bankman-Fried called crypto derivatives “misunderstood” instruments. In his view, these financial products play an important role in increasing liquidity and efficiency in markets for digital assets.
Subscribe to ForkLog’s channel on YouTube!