We have a few announcements to make:
- FTX will be undergoing very brief maintenance tomorrow, February 12th at 12pm Hong Kong time. We are optimistic that this will only last a few minutes. During this maintenance, FTX will be rolling out the below changes:
- FTX will be adding PAXG, EUR, GBP, AUD, HKD, SGD, TRY, ZAR, and CAD as collateral for all futures trades!
- Given the recent success of BULL and BEAR tokens on Binance, FTX will be focusing its leveraged token efforts on the +/- 3x ones. Given this, FTX will be removing the MOON/DOOM token spot markets and creations and focusing efforts on adoption of BULL/BEAR tokens. Users will still be able to redeem or convert theirs. This won't affect any other spot markets on FTX.
- FTX will be listing Yang 2020 contracts.
In order to coordinate the rollout of the above features and simultaneously further scale up our database capacity, FTX will be undergoing maintenance beginning around 12pm Hong Kong time on February 12th. We anticipate this maintenance lasting less than 10 minutes, though it could take up to an hour.
FTX will be adding PAX Gold as well as all of the supported fiat currencies as collateral. You can deposit and withdraw fiat at your wallet. This will allow users to trade cryptocurrencies using USD, BTC, ETH, USDT, FTT, BNB, PAXG, EUR, GBP, AUD, HKD, SGD, TRY, ZAR, and CAD as collateral.
FTX has seen significant success listing BULL and BEAR leveraged tokens on Binance, with $5-10m of daily volume. Simultaneously the MOON/DOOM tokens have proven very volatile, with daily swings of 90%+ in both directions. Given this, we have decided to focus our leveraged token efforts on BULL and BEAR (+/- 3x) tokens.
As such, during the maintenance we will be removing the spot markets for all +/- 10 leveraged tokens. Note that users will still be able to redeem MOON/DOOM tokens for their NAV, and will be able to convert them using their wallet. Beginning on March 1st, 2020, the MOON and DOOM tokens will stop rebalancing, stop being charged the LT management fee, their positions will be closed, and will retain their fixed NAV per share in USD and will always be redeemable.
On the other hand, we will be significantly ramping up efforts around BULL and BEAR tokens. Expect some exciting announcements on the horizon!
Given the success of the 2020 election markets, we will be adding an industry favorite to the mix: Andrew Yang.