Globe is a new cryptocurrency derivatives trading platform that aims to set itself apart from the competition by offering a range of novel futures contracts and features. Users can trade short Bitcoin (BTC), Ether (ETH), and DeFi Tokens with leverage on what is touted to be one of the world’s fairest and fastest crypto derivatives exchanges.
GDT Listing On May 12 After LBP’s Conclusion
The Globe Derivative Token (GDT) is the native utility token of the platform. The token is in a variety of transactions such as payment for fees, the margin for trading, fee discounts, and in the Globe exchange’s rewards program.
Prior to its listing on May 12, the Globe derivatives trading platform is auctioning 3.5 percent (14 million tokens) to the total $GDT supply in a Liquidity Bootstrap Pool by Balancer. The LBP was launched at 12:00 UTC+0, May 10, 2021, and will end at 12:00 UTC+0, May 12, 2021.
The weighting of $GDT decreases throughout the 48-hour auction window. This mechanism is aimed at reducing the price volatility of the token during the auction as it discourages whales from buying all the tokens at once.
What Sets Globe Crypto Derivatives Exchange Apart
The Globe platform aims to be a pioneer in the field by offering new products such as VIX futures. With its stable of innovative products, casual and institutional traders alike can speculate on the price of an asset without directly trading in it.
The Globe platform uses perpetual futures contracts, which is a type of derivative. This contract has no expiration date and the longs and shorts pay each other at fixed intervals.
The platform is set for launch in May 2021. It will initially support futures products such as ETH/USD, XBT/USD, UNISWAP/USD, and XBT/VIX. Visit here for the latest announcements on the project.