Wasabi Protocol Launches Perps Market to Public
Wasabi Protocol's perps market is now available to the public, offering unique Asset-Backed Perpetual Contracts on ETH Mainnet.
The Deets
- Direct Market Impact: Trade with leverage, affecting utoken prices.
- Asset-Backed Positions: Enhanced security with tokens as collateral.
- Yield Generation: Earn by depositing ETH or utokens in Wasabi Vault.
- Season Two Points System: Earn points for protocol activities.
The Bulk
Wasabi launched its latest product, Wasabi Perps today. The market is now available to the public on the Ethereum Mainnet, introducing Asset-Backed Perpetual Contracts, a new concept in web3.
At its core, Wasabi Perps allows traders to exert direct market influence. Opening positions on Wasabi impacts the price of the underlying utoken, enabling traders to buy or sell utokens with leverage. This feature extends to the Flooring Uniswap Pool and other NFT marketplaces, offering a wide range of trading options.
Another standout feature is the asset-backed nature of the positions. Positions on Wasabi are secured by the underlying tokens themselves, serving as collateral. This method ensures a more liquid settlement layer for NFT derivatives and significantly reduces counterparty risk, a common concern in traditional derivative markets.
In addition to trading, Wasabi Perps enables users to generate yield through the Wasabi Vault. By depositing either Ethereum or utokens, participants can earn passive income, adding another layer of utility to the platform.
Moreover, the introduction of the Season Two Points System is set to enhance user engagement further. This new system rewards users with Wasabi points for their activities on the protocol, incentivizing participation and offering additional benefits for active users.
The protocl indicated these points "may be notable" in the future.
❗Why It Matters
A public and liquid perps market could exert real impact on the price of NFTs in the market, as indicated by the protocol itself. While the ability to "go long or short" NFTs has long been yearned for, users will now have the ability to act on their convictions. Plus...points!
📊 By the Numbers
With more than $3 million in liquidity at launch, Wasabi Perps is starting with a robust initial trust.
🎤 Platform Prose
Wasabi's newest product, Asset-Backed Perps, is now open to the public on ETH Mainnet. With +$3M of liquidity at launch allowing traders to obtain direct, secure market influence, along with the opportunity to earn Wasabi SZN 2 points.Wasabi
🎬 Take Action
Interested in participating? Visit perps.wasabi.xyz to start trading and be part of the Wasabi Perps community.
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