SynFutures, a decentralized derivatives protocol, has launched perpetual contracts that permit customers to commerce the 2024 U.S. election.
On Sept. 19, SynFutures posted on X that the 2 perpetual contracts on the upcoming U.S. election would permit customers to guess on the winner’s price. The USDC (USDC)-paired buying and selling contracts deal with who will emerge victorious between Vice President Kamala Harris and former U.S. president Donald Trump.
What are perpetual futures contracts?
Perpetual futures contracts supply a crypto spinoff instrument that merchants use to take a position on the longer term worth of an underlying digital asset. These contracts within the crypto house sometimes contain belongings like Bitcoin (BTC), Ethereum (ETH) or different cash.
Merchants can speculate on any supported contract with out proudly owning the asset immediately. Perpetual futures, in contrast to conventional futures contracts, shouldn’t have an expiration date.
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SynFutures presents Trump and Harris perpetuals
As SynFutures introduced on Sept. 19, the brand new TRUMP-USDC and HARRIS-USDC perpetual futures pairs permit merchants to guess on the Polymarket price concerning who will win the U.S. election in November 2024.
SynFutures’ perpetuals, which provide as much as 10x leverage, monitor the Polymarket guess on the subject of the ‘Presidential Election Winner 2024’.
At the moment, predictions point out Harris has a 52% likelihood of profitable, whereas Trump stands at 47%.
On SynFutures, the TRUMP-USDC pair trades at $0.47661, whereas the HARRIS-USDC pair is at $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 Nov. 4.
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