World’s leading crypto trading platform Binance announced that it will launch Tellor (TRB) and DFI Money (YFII) margin trading against USDT with up to 50% leverage. The TRB/USDT and YFII/USDT perpetual contracts will go live on Binance futures on September 03, 07:00am UTC, and will use Tether (USDT) as collateral.
— Binance (@binance) September 2, 2020
Tellor is an Ethereum based decentralized oracle network, while DFI, on the other hand, is a mass market DeFi project that is still in its beta testing phase. Both the projects are focused on providing value to their respective users by getting listed on the Binance Futures platform, and in return, Binance users will get a chance to engage with new and innovative crypto-blockchain projects.
The future of crypto trading platforms heavily relies on the number of traditional finance-like options they offer their users. Therefore, options like futures trading and margin trading have gained significant traction in the industry over the past few months. Especially, giant crypto trading companies like Coinbase, Huobi, and KuCoin are investing big and going all guns blazing to establish themselves in the segment.
Binance Futures, is particular, has witnessed significant growth and it evidently aims to add more options. With the addition of TRB and YFII against USDT will add more flavour to its offerings. By staking their token as collaterals, USDT holders can take a leverage of anywhere between 1% to 50%.