Kollider launches Lightning Network-based derivatives exchange

The cryptocurrency company Kollider has launched a derivatives exchange within the Lightning Network ecosystem after closing a seed round of $2.35 million.

We’ve got some big news!

Today, we’re excited to announce the official public launch of Kollider!

So let’s do a little round up.

What is Kollider? pic.twitter.com/02o9oJk2wf

— Kollider⚡ (@kollider_trade) October 26, 2022

Among the firm’s investors are Castle Island Ventures, Polychain Capital, Alameda Ventures, Pfeffer Capital, OKX Ventures. The round was led by Lemniscap.

Lightning-native exchange means instant deposits and withdrawals directly to and from your wallet.

You can go long and short Bitcoin, hedge your price exposure, access stablecoins, and trade. All without having to leave the Lightning Network ecosystem.

— Kollider⚡ (@kollider_trade) October 26, 2022

“Lightning-based exchanges based on Lightning offer instant deposits and withdrawals directly from your wallet,” the developers explained.

According to them, the new product’s functionality allows opening long and short positions on Bitcoin, hedging risks, and trading synthetic stablecoins.

Kollider Synthetic Stablecoins.

You can use Kollider to peg all or part of your BTC balance to fiat currencies. We hedge the exposure using derivatives on the back end. And users get fiat-denominated balances.

We detail more here: https://t.co/XOlmHd4VXk

— Kollider⚡ (@kollider_trade) October 26, 2022

The platform is offered in two versions:

• simplified (Lite);
• full-featured (Pro).

The company also introduced a native wallet — Kollider Wallet.

Kollider Wallet

This is the first Lightning Network browser-based wallet that allows you to peg all or part of your balance to fiat currencies using our synthetic stablecoins.

You can see a preview of the product below. pictwitter.com/6MQgFYTmJb

— Kollider⚡ (@kollider_trade) October 26, 2022

“This is the first browser-based wallet built on the Lightning Network that allows you to peg all or part of your balance to fiat currencies using our synthetic stablecoins.”

In 2020, the Kollider team raised $200,000 at the pre-seed stage of financing.

As of writing, the Lightning Network (LN) has 16,698 nodes interconnected by 80,431 payment channels. The network’s micropayment capacity stands at 5,123 BTC (over $105 million).

Earlier, ForkLog reported about a complex transaction in the Bitcoin blockchain, which temporarily disrupted part of the LN.

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