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Little over a month ago, we announced the launch of Zero—a 0% interest loan against your bitcoin with no payback period. Our engineering and product teams have been delivering incredible features such as Limit Orders, the ability to add collateral to loans, and a host of other trading updates. Now, we’re excited to reveal yet another significant release on the Sovryn protocol: Perpetual Futures.
We’ve launched Sovryn Perpetuals on Sovryn Labs, a product playground where we release experimental new products and features. Products and features released on Labs may feel a little unfamiliar to users but will become more refined as they mature.
To mark the launch of perpetual futures on mainnet, we hosted a week-long perpetual futures trading competition earlier this month.
The competition wrapped up on 19 Jun at 12pm UTC and you can check out the competition leaderboard to view the prize winnings of the top three traders.
Perpetual futures are a powerful financial tool, and trading perpetuals on Sovryn has a number of advantages.
Since officially launching Sovryn to the public in April 2021, our mission has been to provide anyone, anywhere with the tools for financial self-sovereignty.
We’ve built decentralized perpetual futures on Sovryn to help you achieve your mission. Think of this feature as adding another string to your Bitcoin bow, bringing you one step closer to reaching your goals.
Trading perpetual futures on Sovryn, you can use your BTC to gain long or short exposure to market movements in either direction. So, you have the potential to profit regardless of whether price is in an uptrend or a downtrend. Using leverage, you have the ability to open long or short trading positions that are larger than your trading account balance.
We’re starting with a BTC/USD perpetual, with margin in BTC, but we’ll be adding more assets as this product matures. We hope to have a gold perpetual soon.
All you need is your bitcoin. You will be able to trade assets, using bitcoin as collateral, while still holding onto your own keys. All without the need to perform KYC.
Sentiment in the crypto markets is unsurprisingly negative. The fact that funds have been frozen on numerous centralized platforms has been eye-opening for many and has been causing major panic for users. There has truly never been a greater need for privacy-focused, decentralized tools where you maintain control over your funds and make your own financial decisions.
We strongly recommend that you familiarize yourself with perpetual futures by visiting the Perpetual Futures wiki page and honing your trading skills on the Perpetual Futures testnet version. You can also check out the Perpetual Futures FAQ.
When you’re ready, head on over to the Perpetuals page on the dapp, connect your wallet, and click on “Fund account”. You will be able to bridge either RBTC or BTC directly following the instructions in the wiki.
Get off CeFi. Get on Sovryn.
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