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1) FTX launched HALF tokens today: Leveraged Tokens with 1/2 exposure to the underlying. ftx.com/trade/HALF/USDT Why bother, if you can just do it yourself without leverage? Well, the first answer is that maybe no one cares, which is fine!

SBF

@SBF_FTX

Apr 13, 2020

2) But one interesting thing is the have the opposite price action from BULL/BEAR. When markets go up HALF's BTC holdings go up, so it sells some off to get back to 50/50; when markets go down, it buys back.

SBF

@SBF_FTX

3) So whereas BULL/BEAR do well under momentum and poorly under mean reversion, HALF is the opposite: it does well under mean reversion and poorly under momentum, relative to a static portfolio.

help.ftx.com

Leveraged Token Walkthrough [READ THIS]

Disclaimers None of this is investment advice. Much of the below analysis ignores any difference between futures and spot prices, and ignores the effects of fees. It also ignores slippage incurre...

11:00 PM · Apr 13, 2020Twitter Web App

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4) This isn't the coolest thing we've ever launched, or even the coolest thing this week (help.ftx.com/hc/en-us/artic), but it's something that complements the existing products so we decided to go ahead with it.