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DX.Exchange Launches Leveraged "Turbo Tokens" on Ethereum

Estonia-based digital asset exchange DX.Exchange has announced the launch of Smart Leverage Tokens (SLTs), a new type of financial instrument that enables margin trading on the Ethereum blockchain. The announcement came in an official statement from the company.

The first SLTs to be listed on the exchange, dubbed “Turbo Tokens”, will be pair Tether Dollars (USDT) and DXCASH (DX.Exchange’s native coin) against Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), and Binance Token (BNB).

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USDT pairs willed be leveraged 5x; DXCASH pairs offer 10x leverage.

 

https://t.co/gavrewTi9F Launches Smart Leverage Tokens to Allow Margin Trading on the Blockchain. Read the full story at https://t.co/qk3jRbE8kc pic.twitter.com/U6fMrn6Kr5 — DX.Exchange (@DXdotExchange) July 10, 2019 Suggested articles How to Weather the Storm: Why Safe Haven Assets Should Interest YouGo to article >> Traders Own Their Leverage, Face Fewer Risks

Unlike other kinds of margin trading, SLT traders do not borrow from the exchange; instead, they own their own leverage. Therefore, SLT traders do not incur overnight interest, and do not face as much risk as in normal margin trading.

Turbo tokens also have a compounding mechanism that prevents the value of the asset from ever going to zero, which (according to the announcement) means that traders “never face more risk than the loss of their original investment.” The tokens can be stored in an ERC20 token wallet.

Daniel Skowronski CEO and Co-Founder of DX.Exchange, said that SLTs are a “game-changer:” “Exchanges are in a race to add leverage products, but they are still tied to the old school of margin trading with high risk and fees,” he explained.

Daniel Skowronski, CEO, DX.Exchange

As Finance Magnates reported earlier this year, DX.Exchange partnered with MPS MarketPlace Securities, Ltd, to be the first exchange ...

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