LEVERJ Announces Decentralized Cryptocurrency Derivatives Trading Platform

ConsenSys will serve as a technical advisor to Leverj and support the project.

Leverj has announced its plans for a decentralized platform for cryptocurrency derivatives trading. The Seychelles-based project is meant to enable users to place and manage positions on cryptocurrencies, as well as futures on major equities indices and single stock futures, all in a decentralized way.

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Bharath Rao

Leverj CEO Bharath Rao, a former Wall Street and GE Research veteran, said: “Enabling exposure to the top cryptocurrencies using only ether as the currency of settlement is an important market need. The ability to get exposure to the top tokens without the need to manage multiple wallets is highly appealing for speculation and hedging. The Leverj platform eliminates security issues with wallets and nodes of new tokens. Based on our research and customer demand, we have developed a modular, easy-to-use UX with trustworthy, reliable APIs that will make the exchange appeal to all traders. We expect to see ample migration from users of centralized exchanges.”

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“Previous efforts to establish markets for leveraged cryptocurrency derivatives have focused on centralized exchanges, which traders must fully trust to custody their funds. In an environment where even the biggest and most security-conscious exchanges experience loss of funds through hacks, a focus on security using the original principles of bitcoin and decentralized financial systems becomes more important than ever,” he added.

ConsenSys will serve as a technical advisor to Leverj and support the project.

“As a global leader in blockchain technology, ConsenSys is committed to building software that helps expand the ecosystem around Ethereum, the most advanced blockchain platform powered by the world’s largest developer community. In this spirit we are proud to support Leverj, which promises to make significant strides toward this goal by improving security and usability in trading,” commented ConsenSys founder Joseph Lubin.

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