Xena Exchange To Start Selling Contracts On Telegram Tokens
Digital platform Xena Exchange is preparing to launch the first derivative on Telegram (Gram) tokens with leverage, Forklog reports.
The popular messenger Telegram has already finished two stages of its ICO with $1.7 billion received. It is worth mentioning that only a limited circle of people participated in the rounds, as the company refused to conduct public sales.
Gram Tokens are not listed on any exchange yet. However, financial instruments from Xena Exchange will allow investors to trade derivatives before platforms start supporting Gram. According to the developers, these contracts will be available from February 27.
Moreover, owners of the Telegram tokens will be able to insure their assets from a potential rate after listing on exchanges. Those who were unable to acquire Grams can earn on their rate growth using derivatives.
Anton Kravchenko, the head of Xena Exchange, stated these crypto derivatives will be used to hedge the risks of investors, which never happened on the market before.
The company believes that in the first three months they will sell Gram contracts worth $3.5 billion. Thus, Xena Exchange takes a step towards traditional investors in order to attract new funds to the platform and increase trading volumes. Also, the exchange will launch a section for operations with cryptocurrency derivatives on January 18. The first derivative instrument here will be a BTC to USD contract.
Telegram continues to work on its Telegram Open Network blockchain platform (TON), which will use Gram as an internal token. Developers intend to compete with payment systems like Visa, making transactions faster.
Previously, LedgerX released contracts on bitcoin halving.