Submit Blog Home » Cryptocurrency News » Cryptocurrency News » FTX Launches Uniswap Index Futures to Meet Surging Demand for DeFi Access FTX Launches Uniswap Index Futures to Meet Surging Demand for DeFi Access August 24, 2020
Aug 24, 2020 at 16:36 UTC Updated Aug 24, 2020 at 18:19 UTC
CME Trading Floor (Joseph Sohm/Shutterstock)
Antigua and Barbuda-based FTX announced Monday a futures index for the top 100 liquidity pools on Uniswap, the largest decentralized exchange by traded volume.“We’ve seen large demand from customers to get exposure to a broad base of DeFi (decentralized finance) products,” CEO Sam Bankman-Fried told CoinDesk in a private message.The futures index allows traders to use a traditional cryptocurrency exchange to access markets native to the new decentralized trading platform, while paying lower fees and using leverage.The index provides traders on FTX, the leading cryptocurrency exchange by order book liquidity, with “exposure to 100 markets without paying gas fees 100 times,” Bankman-Fried told CoinDesk, referencing skyrocketing network fees on the Ethereum blockchain.Surging demand to trade on Uniswap pushed the trading platform’s volume in August above its July record high in less than two weeks.
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