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FTX Launches Uniswap Index Futures to Meet Surging Demand for DeFi Access
FTX said customers are demanding access to DeFi products.
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.
STORY CONTINUES BELOW
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- “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.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
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