The Crypto VIX? Bitcoin Volatility Tokens (BVOL) To Be Launched by FTX Trade

FTX derivatives trade launched early 2019 with greater than $400 million price of day by day buying and selling quantity, has just lately introduced plans for a brand new product: the BVOL tokens, which shall be obtainable to non-U.S. customers.

The brand new tokens are ERC20-based tokens that try to trace the volatility of the crypto markets by means of publicity to the FTX MOVE contracts that characterize absolutely the worth of the quantity Bitcoin (BTC) strikes over day by day, weekly and quarterly durations. The brand new tokens intention to grow to be the VIX (stands for the volatility index) model of the cryptocurrency markets.

BVOL stands as an innovation due to the decentralized nature of getting volatility captured in an Ethereum-based ERC20 token. The token presents self-custody as a characteristic. It simplifies the method of getting to handle collateral, margin, liquidation costs as a result of it acts as a normal ERC20 token on the spot market. One may ship BVOL tokens to different platforms which may listing them.

At present, one can purchase or promote BVOL tokens on the spot market of FTX and different margin exchanges, ship them on to the pockets web page utilizing the ‘CONVERT’ perform or create or redeem them on the tokens web page of FTX.

Source: fintechzoom.com