Futureswap, a new decentralized exchange protocol built on Ethereum (ETH), officially launched this week on the Ethereum mainnet with perpetual futures contracts that offer up to 20x leverage.
According to the Futureswap website, the platform functions similar to other decentralized exchanges, allowing investors to pool their holdings to act as a liquidity provider in return for a percentage of trading fees.
Additionally, Futureswap leverages a governance model that enables users to guide the direction of the platform by voting on new markets and the overall direction of the platform with its governance token (FST). FST can be earned on the platform as a reward for trading, providing liquidity or inviting other users to the exchange.
The platform claims to allow traders to leverage their positions up to 20x with minimal slippage using Automated Market Making that enables liquidity providers to balance pools using a bonding curve based on the price oracle.
Futureswap received a $400,000 investment from DeFi-focused VC firm Framework Ventures in March.
More: Futureswap information
Related: Framework Ventures invests $900,000 in Common Labs and Futureswap
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
