SynFutures, a decentralized derivatives protocol, has launched perpetual contracts that enable customers to commerce the 2024 US elections.
On September 19, SynFutures posted on X that the 2 perpetual contracts for the upcoming US elections would enable customers to guess on the winner proportion. The USDC (USDC)-paired buying and selling contracts deal with who will emerge victorious within the battle between Vice President Kamala Harris and former US President Donald Trump.
What are perpetual futures contracts?
Perpetual futures contracts present a crypto by-product instrument that merchants use to take a position on the longer term worth of an underlying digital asset. These contracts within the crypto house usually embody property reminiscent of Bitcoin (BTC), Ethereum (ETH) or different cash.
Merchants can speculate on any supported contract with out immediately proudly owning the asset. Perpetual futures, not like conventional futures contracts, haven’t any expiration date.
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SynFutures affords Trump and Harris perpetuals
As SynFutures introduced on September 19, the brand new perpetual futures pairs TRUMP-USDC and HARRIS-USDC enable merchants to guess on the Polymarket fee on who will win the US elections in November 2024.
SynFutures perpetuals, which provide as much as 10x leverage, observe Polymarket’s guess on the subject of the ‘2024 Presidential Election Winner’.
Presently, predictions point out that Harris has a 52% likelihood of profitable, whereas Trump is at 47%.
On SynFutures, the TRUMP-USDC pair is buying and selling at $0.47661, whereas the HARRIS-USDC pair is price $0.52453. The trades present a 24-hour change of 0.72% and 0.24% respectively. The 24-hour buying and selling quantity for the 2 contracts is simply over $366,000 for TRUMP and over $105,000 for HARRIS.
The 2 contracts have a settlement date of November 4.
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