Switcheo has launched the first futures markets on TradeHub, powered by Demex, its Layer-2 decentralized exchange. The new markets enable traders to buy and sell WBTC and ETH futures with USDC, offering up to 100x leverage during the beta period.
The current derivatives offerings are futures contracts with linear payouts. The initial beta contracts are set to expire on March 26 at 8:00 a.m, however in the future the contracts will settle on a quarterly basis.
Users can connect to the platform with Ledger devices, MetaMask, or with an encrypted key/password combination. In addition to trading, users can also provide liquidity to the pools that fuel the trading platform, earning extra rewards in the process.
The team noted that liquidity is expected to pick up over time as it continues to onboard market makers. Other trading pairs and derivative contracts such as perpetuals will also be added over time.
Users can begin trading on Demex at the following link: