Coinbase International Exchange, in collaboration with Coinbase Advanced, has announced the upcoming launch of perpetual contract trading markets for three prominent cryptocurrencies: DYM (Dymension), MKR (Maker), and AAVE (Aave). These new markets—designated as DYM-PERP, MKR-PERP, and AAVE-PERP—are scheduled to open on August 1, 2024, at 17:30 UTC+8 or shortly thereafter.
Key Features of the Launch
Trading Pairs:
- DYM-PERP
- MKR-PERP
- AAVE-PERP
Platform Availability:
- Coinbase International Exchange
- Coinbase Advanced
- Market Accessibility:
Perpetual contracts allow traders to speculate on asset prices without expiration dates, offering flexibility for both short-term and long-term strategies.
Why These Tokens Matter
- DYM: A modular blockchain protocol designed for scalable decentralized applications.
- MKR: The governance token of MakerDAO, backing the DAI stablecoin ecosystem.
- AAVE: A leading decentralized finance (DeFi) lending protocol enabling permissionless borrowing and lending.
👉 Discover more about decentralized finance innovations
Trading Considerations
- Leverage: Perpetual contracts typically support leverage, though specific details for these pairs are yet to be confirmed.
- Liquidity: Initial liquidity may vary; traders are advised to monitor order book depth.
- Risk Management: Use tools like stop-loss orders to mitigate volatility risks.
FAQ Section
1. What are perpetual contracts?
Perpetual contracts are derivative instruments without expiration dates, allowing continuous trading. They often include funding mechanisms to align contract prices with spot markets.
2. How does Coinbase International Exchange differ from Coinbase Advanced?
Coinbase International Exchange caters to institutional and international traders, while Coinbase Advanced offers a retail-friendly interface with advanced tools.
3. Are these markets available to U.S. users?
No. Due to regulatory restrictions, U.S. customers cannot access Coinbase International Exchange.
4. What fees apply to perpetual contract trading?
Fee structures vary by platform and tier. Refer to Coinbase’s official documentation for details.
5. How can I secure my trading account?
Enable two-factor authentication (2FA) and use whitelisted withdrawal addresses to enhance security.
👉 Explore advanced trading security measures
Conclusion
This expansion underscores Coinbase’s commitment to broadening its crypto derivatives offerings, providing traders with more opportunities to engage with high-profile DeFi assets. As always, conduct thorough research and adhere to local regulations before participating in derivative markets.
For real-time updates, follow Coinbase International Exchange’s official channels.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk.