I have one qualm and a question. Why aren't the payouts denominated in BTC? Is it it the trading engine and the complexity of quanto swaps?
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Hmmm. I think just the BTC perp swaps would be great.
Inverse swaps on BTC, with pnl in BTC itself will be a game changer.
I hope you do realise that the spot for that is empty.
Binance doing that, but a lot of 'serious' (for a lack of better terms) traders dont like nance.
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I second this. In an ideal world an ETH quanto swap would be banging as well. FTX would cover all my crypto trading needs if implemented.
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Well that sounds like a good workaround.
Would this be like a on/off switch.
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I'd love something like that tbh.
And a good section of traders would appreciate hopefully appreciate as well.
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Its not ideal if you are paying a 0.1% spread every time you take profit to be honest.
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Yep. It isn't ideal. But it is something tbh. It's a step imo.
Plus if fees are the issue you aren't doing something right.
Regardless, would you mind musing me. What difference moving to purely inverse swaps from a linear swap would make for the trade engine.
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Doing either one is equally easy from a tech standpoint -- though doing both is harder.
The downsides of inverse:
a) less intuitive for people coming from finance
b) BTC/USD is the price people think about, so it should be the contract, not USD/BTC
c) USD is a more stable base
I see. Thanks for the insight. And I agree on all three.
Just my perspective on things is, when BTC is in an uptrend I'd rather continue putting my spot cash into BTC and withdraw all that spot once markets shift.
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