Three of the biggest exchanges recently announced their new offerings
Binance gave a sneak peek of the Binance DEX. Huobi is about to deliver a Derivative Platform. And OKEx introduced its Perpetual Swaps.
The Binance DEX
On 4 December Binance gave a video demonstration of the new Binance DEX. The DEX is a decentralized cryptocurrency exchange. The preview exhibited its interface, which has the same feel as the current Binance layout. It has a decentralized wallet that is fully under user control. It is also equipped with the Binance Block Explorer. Users can view their balances, the order book, and trade and order history.
According to Changpeng Zhao, better known as CZ, users will have an option to choose between a centralized or a decentralized exchange.
When transacting through Binance DEX gas tokens will be in BNB, the exchange’s very own ERC-20 token.
A beta will be open to the public by the end of this year or early next year.
The Huobi Derivative Market
On the 28 November Huobi announced the launch of the Huobi Derivative Market (Huobi DM). The platform lets users participate in derivatives trading based on the cryptocurrency market trajectory. It is integrated with instruments made for hedging and risk managem
Huobi DM is not ready for the Hong Kong, Israel, Malaysia, and US markets. It is in beta testing.
OKEx Perpetual Swaps
On 3 December OKEx introduced their new derivatives product, the Perpetual Swaps which is said to hold as much as 100x leverage from betting for or against the price changes of the market.
The exchange’s swaps do not expire, so a speculator can take his time before making the decision to buy an asset at which the seller holds to sell.
Settlements from the swaps are done daily with a small transaction fee.
Perpetual Swaps was first brought to the market by BitMEX.