Crypto exchange Bitfinex’s chief technology officer, Paolo Ardoino, hinted at the maximum leverage for the exchange’s upcoming derivatives trading.
Cryptocurrency exchange Bitfinex CTO Paolo Ardoino hinted at the maximum leverage for the exchange’s upcoming derivatives trading, in a tweet published on June 24.
In the tweet, Ardoino purportedly indicated the maximum leverage for Bitfinex’ forthcoming derivatives trading, which resulted in a heated discussion between community members.
In response to the answer whether it will be an isolated leverage, Ardoino said that it will be isolated at the beginning, adding that it is better for risk management. Ardoino also revealed that instruments with high leverage will be used separately from the main margin market limited to 3.3x. He stated:
“We have quite a steep margin requirement enforcement, with position increases. I'm proud of the result and the protections we have. Of course we'll have to learn also from experience.”
Recently, Bitfinex announced a LEO token burn initiative that will see the exchange’s parent company iFinex funnel its gross revenue into purchasing LEO tokens at market prices as part of the UNUS SED LEO burn mechanism.
This new system will launch alongside the LEO Transparency Dashboard, which will reportedly provide real-time information on collected platform fees and LEO token burns.
Bitfinex-owned hybrid cryptocurrency exchange Ethfinex Trustless announced the launch of its on-chain decentralized over-the-counter service. The system allegedly has no centralized order book or matching engine, and only financial instruments are restricted from the platform.