DX.Exchange Launches Leveraged Crypto Tokens on Ethereum

Wednesday, 10/07/2019 | 16:22 GMT by Rachel McIntosh
  • “Turbo Tokens” will pair USDT and DXCASH against BTC, ETH, XRP, ADA, and BNB.
DX.Exchange Launches Leveraged Crypto Tokens on Ethereum
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Estonia-based digital asset exchange DX.Exchange has announced the launch of Smart Leverage Tokens (SLTs), a new type of financial instrument that enables margin trading on the Ethereum Blockchain . The announcement came in an official statement from the company.

The first SLTs to be listed on the exchange, dubbed “Turbo Tokens,” will be pair Tether Dollars (USDT) and DXCASH (DX.Exchange’s native coin) against Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), and Binance Token (BNB).

USDT pairs willed be leveraged 5x; DXCASH pairs offer 10x leverage.

Traders Own Their Leverage, Face Fewer Risks

Unlike other kinds of margin trading, SLT traders do not borrow from the exchange; instead, they own their own leverage. Therefore, SLT traders do not incur overnight interest and do not face as much risk as in normal margin trading.

Turbo tokens also have a compounding mechanism that prevents the value of the asset from ever going to zero, which (according to the announcement) means that traders “never face more risk than the loss of their original investment.” The tokens can be stored in an ERC20 token wallet.

Daniel Skowronski CEO and Co-Founder of DX.Exchange, said that SLTs are a “game-changer:” “Exchanges are in a race to add leverage products, but they are still tied to the old school of margin trading with high risk and fees,” he explained.

Daniel Skowronski, the CEO of DX.exchange

Daniel Skowronski, CEO, DX.Exchange

As Finance Magnates reported earlier this year, DX.Exchange partnered with MPS MarketPlace Securities, Ltd, to be the first exchange to offer tokenized stocks of some of the largest publicly traded companies in the world.

“We have been waiting to go live with the most upgraded, inclusive, and modern version of our exchange platform,” Skowronski said at the time. “ The industry is very dynamic, and with new and exciting products such as digital stocks making their grand entrance, we’re confident that the hard work to perfect the trading experience was well worth the effort.”

Estonia-based digital asset exchange DX.Exchange has announced the launch of Smart Leverage Tokens (SLTs), a new type of financial instrument that enables margin trading on the Ethereum Blockchain . The announcement came in an official statement from the company.

The first SLTs to be listed on the exchange, dubbed “Turbo Tokens,” will be pair Tether Dollars (USDT) and DXCASH (DX.Exchange’s native coin) against Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), and Binance Token (BNB).

USDT pairs willed be leveraged 5x; DXCASH pairs offer 10x leverage.

Traders Own Their Leverage, Face Fewer Risks

Unlike other kinds of margin trading, SLT traders do not borrow from the exchange; instead, they own their own leverage. Therefore, SLT traders do not incur overnight interest and do not face as much risk as in normal margin trading.

Turbo tokens also have a compounding mechanism that prevents the value of the asset from ever going to zero, which (according to the announcement) means that traders “never face more risk than the loss of their original investment.” The tokens can be stored in an ERC20 token wallet.

Daniel Skowronski CEO and Co-Founder of DX.Exchange, said that SLTs are a “game-changer:” “Exchanges are in a race to add leverage products, but they are still tied to the old school of margin trading with high risk and fees,” he explained.

Daniel Skowronski, the CEO of DX.exchange

Daniel Skowronski, CEO, DX.Exchange

As Finance Magnates reported earlier this year, DX.Exchange partnered with MPS MarketPlace Securities, Ltd, to be the first exchange to offer tokenized stocks of some of the largest publicly traded companies in the world.

“We have been waiting to go live with the most upgraded, inclusive, and modern version of our exchange platform,” Skowronski said at the time. “ The industry is very dynamic, and with new and exciting products such as digital stocks making their grand entrance, we’re confident that the hard work to perfect the trading experience was well worth the effort.”

About the Author: Rachel McIntosh
Rachel McIntosh
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About the Author: Rachel McIntosh
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
  • 1509 Articles
  • 54 Followers

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