Bitcoin Futures trading desk CoinFLEX announced the launch of its own cryptocurrency
One of the trading platform CoinFLEX made for the physically brought Bitcoin Futures, stated recently the introduction of its innate cryptocurrency. The adding of FLEX Coin is a portion of the new crypto inventiveness to reward early accepters of the CoinFLEX platform.
Customers can use the tokens to counterbalance the cost of trading fees incurred during the previous day. would get the day to day payouts of FLEX Coin based on the capacity they trade on the exchange, comparative to the entire volume dealt on CoinFLEX daily.
CoinFLEX, company aim is to offer a safe, accessible, worldwide cryptocurrency futures exchange, will also present the world’s first stablecoin-to-stablecoin futures product, along with increasing prospects for comfortable interchange. The choice to improve a natural cryptocurrency to pair with its conversation was made to additionally its augmented price proposal to possible traders, and award present customers for their faithfulness.
Mark Lamb, CEO of CoinFLEX mentioned that:
“With FLEX Coin we want to reward early traders of the platform and build loyalty using a shared exchange coin. We have a growing number of high profile backers, a clear roadmap for delivery and are moving closer to our goal of helping crypto futures trading achieve its full potential.”
CoinFLEX is even creating a group of high outline monetary sponsors in the cryptocurrency field, with the latest charities from blockchain undertaking companies like Polychain and Digital Currency Group. CoinFLEX’s depositors seem self-assured in the board’s future forecasts, mentioning that the exchange has recognized and directed an underserved necessity in the cryptocurrency world as well as cryptocurrency futures.
As per the Polychain CEO Olaf Carson-Wee
“We believe that Mark and his team have identified a gap in the fragmented landscape of cryptocurrency exchanges. As a physically-settled futures exchange, CoinFLEX will be well positioned to capture significant order flow from speculators, institutional traders, and Proof of Work miners seeking to hedge against crypto price and hash rate volatility.”
Coinflex is allegedly owned by a group that includes Trading Technologies International Inc. Dragonfly Capital Partners and crypto trader Mike Komaransky, Marketplace makers B2C2, Global Advisors, Alameda Research, Amber AI, Grapefruit Trading, Coinfloor, and its secondary businesses also make part of the group that possesses Coinflex. Coinflex’s contracts would do the business in contradiction with tether (USDT), the USD-pegged stablecoin. this suggests the users that at expiry, the participants who are short will offer bitcoin and get tether, while the reverse is also correct.
Coinflex, which turned off from the UKS hoariest cryptocurrency exchange, Coinfloor, will become one of a few exchanges in the world to offer cryptocurrency offshoots to retail investors
Coinflex chief executive officer Mark Lamb stated that he was confident his company has the capacity to gain market share in the new area of digital currency derivatives. He stated:
Crypto derivatives could become an order of magnitude larger than spot markets and the main thing that’s holding back that growth is the lack of physical delivery. Volumes are reduced because of a problem of trust when it comes to cash-settled trades.