A new open-source platform leveraging dYdX protocol has launched the first truly trustless method of creating short and leveraged positions for Ethereum.
The new platform, called Expo, offers traders intent on shorting Ethereum with a straightforward method of margin trading.
Expo functions as a "Short Ethereum" token, which is pegged to a short position on Ethereum.
The Short Ethereum token is powered by the dYdX protocol, which, in turn, is built upon the 0x and Ethereum projects.
On Oct 2 you can short Eth with an Eth-based token on an Eth-based protocol using an Eth-based exchange!
Short Ethereum tokens can be easily purchased via Metamask, with the back-end mechanics of the protocol that drives the token abstracted away from the trader.
A recent press release issued by Expo states that Expo margin trading tokens will be listed on DEXs such as Radar Relay, with a number of additional exchange to be added soon.
In addition to offering Short Ethereum tokens, Expo plans to launch a number of other margin trading tokens including leveraged tokens that multiply profits when prices increase.
Each margin token issued by Expo is available for 28 days and each underlying asset is associated with a token that expires on the 15th and 30th of every month.
The Expo Short Ethereum token is notable for the manner in which it allows traders to access margin trading in the form of a simple ERC20 token-without signup processes, fees, KYC requirements or the risk associated with centralized exchange trading.
Expo Lets Ethereum Haters Short ETH on First Completely Trustless Margin Trading Platform
pubblicato su Sep 21, 2018
by Cryptoslate | pubblicato su Coinage
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