Ebi.xyz to Launch “FUD Market” - First Short-Only Perpetuals on Memes Coins

Victoria, Seychelles, September 5th, 2024, Chainwire

Ebi.xyz, a perpetual DEX built on Arbitrium One, is gearing up to launch a meme-related derivative product this month. The new product, “FUD Market”, will allow traders toonly short meme tokens deployed by meme creation platforms such as Pump.fun (and sunpump). This product would be the first short-only perpetuals to launch as the hype around meme coins continues to gain momentum within Web3.

Since the inception of Pump.fun early this year, more than 2 million token addresses were created and approximately 1.9 million meme coins were successfully deployed. Despite the hype, success stories are rare, and many traders face significant losses when holding these tokens. Recognizing the need for more sophisticated trading strategies around these assets, ebi.xyz is introducing “FUD Market” to enable traders to short meme tokens, offering new ways to capitalize on market movements.

By offering shorting capabilities on meme tokens, ebi.xyz empowers traders with more tools to manage their risk and insulate profit from market volatility. The product gives users the ability to leverage the hype around meme tokens that may be short-lived or to hedge their positions in a rapidly changing market.

The “FUD Market” product will launch later this month, building off of ebi.xyz’s points program which is already live. Designed with trader participation at its core, the points system is designed to reward all activities within the ecosystem. Traders can earn points through trading, referrals, and social interactions. Dynamic rankings and leaderboard systems are also in the pipeline, designed to further engage and reward participants.

About ebi.xyz

Ebi.xyz is a non-custodial limit order book decentralized platform for trading perpetual futures. Engineered for traders, ebi.xyz offers deep liquidity and access to prominent new assets in the market. All trades are settled on the Ebi chain, an Ethereum L2 blockchain powered by Arbitrum Orbit.

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This article was originally published on Chainwire

Source: Investing.com