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Bitfinex Derivatives is pleased to announce a new perpetual contract for Arbitrum, a popular Ethereum layer 2 scaling solution.
The launch of the perpetual futures contract will allow Bitfinex Derivatives customers to trade the ARB token with up to 100 times leverage based on the collateral provided, and take directional exposure on the price movement of the token, as well as hedge any underlying spot positions.
The release of the perpetual futures contracts on ARB by Bitfinex Derivatives, follows the ‘Day One’ listing of ARB/USD and ARB/USDt spot pairs on March 23, 2023 on Bitfinex, one of the first exchanges to list the token.
Launched in 2021 by Offchain Labs, Arbitrum is a layer-2 blockchain designed to facilitate transactions at scale, prevent fraud and scams, and lower transaction costs. Arbitrum uses optimistic rollup technology, a data-compression algorithm that combines multiple transactions into one transaction. Projects on the Arbitrum blockchain include Radiant, a decentralised finance (DeFi) protocol focused on allowing their customers to seamlessly deposit and borrow across multiple blockchains, and GMX, a decentralised exchange focused on perpetual contracts.
“We are thrilled to add Arbitrum perpetual contracts to our portfolio of perpetual contracts. Given how fast the Arbitrum ecosystem has expanded with its emphasis on high speed and low costs, we are confident Bitfinex Derivatives traders will be interested in trading the token with leverage,” said Paolo Ardoino, CTO of Bitfinex derivatives .
* The derivatives platform is provided by iFinex Financial Technologies Limited. References to Bitfinex Derivatives in this press release are references to iFinex Financial Technologies Limited. All deposits, activities, and users are subject at all times to all of the Derivatives Terms of Service in effect on Bitfinex Derivatives. U.S. persons are not permitted to use Bitfinex or any of its services.
