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FTX : The Fastest Moving Derivatives Exchange

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FTX is one of the most rapidly growing exchanges, swiftly making a reputation for itself by rapidly adding new services. It pioneered new products such as basket trades, prediction markets, and fractionalized stock trading. It is unfortunate Americans cannot take advantage of this exchange.

Alameda Research has invested in FTX (both entities founded by Sam Bankman-Fried). Alameda is a quantitative crypto trading business with a $100 million AUM that is a prominent market maker on FTX. 

Alameda was one of the major liquidity providers and market makers in the industry within a year of its start, trading up to $1 billion per day. TUSD and USDC were also early liquidity partners.

Moreover, FTX created Serum(SRM), a decentralised exchange that is independent of the FTX ecosystem.

Disclaimer : Throughout this article I have used referral links. Most of these services gives you additional discounts if you use referral links.

FTX Products & Features

1. NFT Marketplace

The FTX marketplace appears to run on both the Ethereum blockchain and a network named Solana, which employs a proof-of-stake consensus mechanism and consumes substantially less power than Ethereum.

Non-fungible tokens (NFTs) are a sort of cryptocurrency that may provide verifiable ownership and scarcity of any sort of asset. NFTs have been widely utilised for digital art, music, and memes, among other sorts of material, to date.

Some of FTX’s NFTs are linked to physical objects and “redeemable” for their physical equivalents. An NFT linked to an image of three KAWS statuettes should result in three genuine KAWS statuettes; the same is true for an NFT linked to an FTX-branded condom. FTX levies a 5% fee to both the buyer and the seller on each transaction or trade on NFTs.

2. Futures

FTX offers over 100 futures pairings that may be traded using a stablecoin as collateral, such as USD or USDT. 

Futures contracts are paid using stablecoins. That is, you will be putting up stablecoins as collateral. You don’t need a bank account to pay the futures when they expire this way. Instead, use a stable coin to make it easy to enter and exit a position. When you deposit stablecoins, they are converted into USD to cover your margin needs.

FTX also includes a structure of backstop liquidity providers that will step in if clawback is required.

3. Leveraged Tokens

Leveraged Tokens are a unique asset for cryptocurrency traders developed by FTX. These are ERC20 tokens with leveraged exposure to the trading pair of up to 3x. To begin trading leveraged coins, there is no margin need from the user’s FTX account balance. There are also exchange-traded funds (ETFs) that have leveraged exposure to a variety of existing and popular cryptocurrency assets.

Using FTX leveraged tokens can assist a trader control risk. Any transaction gains are immediately reinvested back into the underlying asset being traded by the derivatives exchange.

 This implies that if your leveraged token investment is profitable, the tokens will automatically add 3x leveraged holdings to it. Conversely, if the position is negative, leveraged tokens will immediately lower risk.

Sign Up on FTX & get 5% Off on Your Trading Fees

4. MOVE Contracts

Move Contracts enable you to trade depending on the movement of the price of a certain cryptocurrency while only risking a small amount of money. Movement can occur in any direction.

They are futures contracts that expire based on the total amount of Bitcoin. It can be done on a daily, weekly, monthly, or quarterly basis. Weekly contracts do not have to match to the calendar week. The total volatility of the BTC during a certain time period is the major determinant. This feature draws a large number of users to the exchange.

5. Options

You may also trade Bitcoin options on FTX, which offer you the right but not the responsibility to purchase or sell the digital coin at a certain date and price.

You can use leverage to go long or short on options, just like you can with futures. When it expires, the contract will be settled for an amount equal to its expiry price in dollars.

6. Prediction Markets

They make it possible for users to trade in more conventional ways. It’s comparable to traditional betting. You may place a wager on any real-world occurrence. You will either win and the contract will settle at 100%, or you will lose and it will settle at 0%. 

One well-known example is betting on who will win the forthcoming elections. Each candidate will be given a contract. The buy-in fee will be different for each contender and will be determined by their chances of winning. They have the option to long or short each contract.

Here’s whats coming more

Following the success of our presidential election prediction markets, we will strive to extend our prediction market service to include new events such as sports, e-sports, midterm elections, and more. This process is already in motion, with Super Bowl prediction markets live on the platform and more intriguing markets on the way.

7. Tokenized Stocks

Tokenized stocks are the most exciting product from FTX. Giving qualified traders the opportunity to trade a tokenized stock 24 hours a day, 7 days a week, 365 days a year is something that has never been done before in crypto. 

These are backed up 1:1 with shares held at a registered brokerage, entitling the trader to all of the economic benefits of owning the stock: dividends, stock splits, and so on.

In addition to stock spot trading, we have implemented futures trading capability for these products, enabling customers to trade with up to 101x leverage in the same manner they would with any other market on FTX; same collateral pool, same margin requirements, same everything.

8. Spot Trading

Similarly to a spot trading exchange, traditional traders may acquire a variety of popular digital assets on the market. FTX presently supports over 100 trading pairings that may be exchanged for USD or USDT, including BTC, ETH, LINK, FTT, PAXG, ADA and XRP.

9. OTC Desk

Assume you are purchasing a big number of assets. In such situation, you may be allowed to purchase ‘over the counter,’ or ‘OTC.’ Professional traders typically pick this option since the order book may be too thin to complete the deal. Another argument may be that it will have an impact on the price of that coin.

Most exchanges provide this option, however FTX charges no fees other than the spread for it. You have the option of requesting OTC quotations. It offers discounted prices. You may learn more about it by visiting the FTX OTC Quote webpage.

How to get started with FTX

To open an account in FTX, go to the top right corner and click on the Register option. In the profile settings, you may safeguard your account by using two-factor authentication

Sign Up on FTX & get 5% Off on Your Trading Fees

Following that, you must complete your KYC. You can now deposit funds to trade; however, your account has a total withdrawal restriction of $1,000 until KYC verification is completed.

https://help.ftx.com/hc/en-us/articles/360027668192-Individual-Account-KYC

FTX Trading Fees

https://help.ftx.com/hc/en-us/articles/360024479432-Fees

FTT Token

FTT is the FTX Exchange’s native token. It provides some benefits to users, such as lower FTX trading fees. It may be traded on the exchange’s Spot/Futures market. It can, for example, be exchanged on Binance.

https://help.ftx.com/hc/en-us/articles/360024479432-Fees

Maker refunds of up to 0.0030% are available to FTT stakeholders, and it costs just 25 FTT to have no maker fees. More information may be found here, and stake your FTT.

FTX US Review

FTX.US offers several account tiers, each with its own set of criteria. A client’s account must be verified if they wish to expand their limits or gain access to other financing options. Individual and corporate accounts have various needs, and each tier need more information.

https://help.ftx.us/hc/en-us/articles/360048666713-Account-Tiers-and-Limits

FTX US Trading Fees

https://help.ftx.us/hc/en-us/articles/360043579273-Fees

Conclusion

FTX is continually expanding, with more creative products and services being added to the platform. The exchange has already made a name for itself in the Cryptocurrency derivatives market.

The unmatched assortment of crypto financial products accessible at FTX distinguishes it in the industry. If you have a solid grasp of the complexities of trading derivatives, FTX can provide you with a plethora of chances.

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Source: https://hackernoon.com/ftx-the-fastest-moving-derivatives-exchange-q72z32k3?source=rss

ZDNET

AfterPay CEO believes Australia has an opportunity to be a tech talent exporter

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Anthony Eisen, co-founder and CEO of Australia’s buy now, pay later platform AfterPay, has told the audience of Macquarie Technology Summit that Australia has an opportunity to be an exporter of top tech talent.

“Australia is an incredibly attractive place where you can base global talent that don’t have limitations anymore in terms of being able to do business globally, particularly if it’s tech-based,” he said on Thursday.

“I think there’s a real opportunity to make this more of an export-style industry for our country. I think the government recognises that, and they’re doing more and more to facilitate it.”

He described that Australia’s tech talent pool is “very strong” and something that AfterPay reaps the benefit of first-hand.

“We’ve seen Australian talent, when they have the opportunity to build globally scalable platforms, just shine very strongly, particularly as Australians in our company have moved internationally with our business,” he said.

Recent statistics by Hays, however, indicated that Australia and New Zealand’s tech sector continues to suffer from a severe skills shortage, particularly as international borders remain shut.

For Eisen though, he believes distance should no longer be an excuse for why talent cannot be easily sourced.

“The tyranny of distance is lost with technology-based businesses. The most fabulous thing about the opportunity to build a platform that’s scalable is that it does transcend borders, especially when you look at what we’ve been through with COVID,” he said.  

He pointed out that AfterPay continues to run its head office out of Australia, despite operating in countries including the United States, United Kingdom, and Asia.

“We haven’t regionalised our business, we’ve globalised our business, and while we have global functions now, it’s not about concentration in a geography … and that’s why I also say Australia can be a global head office in a lot of ways,” he said. 

“The global leadership team is spread out … [and] is split between Sydney, Melbourne, San Francisco, London, and we have a core group in Asia as well, so just approaching it that way I think is quite important and something we’re trying to get better at as we grow.” 

Besides exporting tech talent, being able attract talent to Australia and see them establish companies locally is equally important, Eisen said. 

“I think as Australia gets more and more on the map, being able just to attract that experience onto our shores is really important to mix with the talent that we have here,” he said.

“Australia has now produced a whole lot of pretty fantastic global startups that have become scale ups, terrific companies … but the more and more companies from Australia that can grow in that fashion, I think it’s really leading the light.”

During his virtual Q&A, Eisen also took the opportunity to highlight that AfterPay will soon be launching Money By AfterPay, which Eisen described as where “customers will actually be able to deposit money and they’ll have savings goals, and budgeting goals, and different services that go around our platform.”

In March, AfterPay, together with Zip Co, agreed to a buy now, pay later code of practice that was developed by the Australian Finance Industry Association as a vow to be transparent and focus on the needs of the customer.

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Source: https://www.zdnet.com/article/afterpay-ceo-believes-australia-has-an-opportunity-to-be-a-tech-talent-exporter/#ftag=RSSbaffb68

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Techcrunch

Apple to drive China revenues with search ad launch

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After launching five years ago in the United States, Apple’s search advertising service finally arrived in mainland China this week.

The feature, called Apple Search Ads, lets developers bid on an advertising slot based on users’ keyword search in the App Store, similar to how Google search ads work. JPMorgan previously estimated the giant’s annual ad revenue could top $11 billion by 2025, though the forecast didn’t have a breakdown for the search ad business.

Apple has itself been reining in on personalized advertising, letting users turn off data tracking by apps, a move that will inevitably roil the business models of Facebook and others dependent on third-party data to target ads.

China has historically been a strong market for Apple, but iPhones are increasingly losing their luster as a status symbol in the country with the rise of local offerings like Huawei. In the first quarter, however, Apple’s smartphone shipment saw a rebound thanks to Huawei’s slipping sales and the launch of the iPhone 12 family. The Chinese App Store is another important source of income for Apple.

In a five-page guideline, Apple outlines the qualifications for developers targeting ads at mainland Chinese users. There is a stack of industry-specific licenses that advertisers must obtain, which practically excludes most foreign entities from directly advertising in mainland China, as noted in a blog post by AppInChina, an agency that helps international apps launch in China. To bid for search ads in China, apps would have to find local partners with all the government approvals in place.

The requirements for apps importing goods into China, for example, include not just a general license to run value-added internet businesses but also registrations with the relevant trade and customs authorities. Apple may even start asking for these permits from apps that simply want to publish in China, wrote AppInChina, as Apple continues to enforce rules set by the Chinese government as evident from its crackdown on gaming apps.


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Source: https://techcrunch.com/2021/06/23/apple-search-ads-china/

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Telstra wins 15-year Yarra Valley Water IoT contract

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Telstra has scored itself a contract with Yarra Valley Water to provide one million industrial IoT services on its IoT network.

The contract, touted as Telstra’s largest IoT deal to date, will span over 15 years.

As part of the deal, Telstra will enable Yarra Valley Water to utilise its new cloud-based platform-as-a-service IoT connection manager (ICM), as well as its cellular low power wide area network to access IoT coverage of about 4 million square kilometre for NB-IoT and over 3 million square kilometre for LTE-M. 

Telstra industry solutions and IoT group owner Mark Chapman claimed both networks were built specifically for scaled IoT deployments, including in challenging locations such as underground where digital meters are often located.

“Instead of getting four data points a year, our IoT connection manager will now allow Yarra Valley Water to get more than 17,000 data points annually for a much more accurate, near real-time, and robust understanding of its water infrastructure,” he said.

Leveraging both, according to Telstra, would enable Yarra Valley Water to automatically receive readings in near real time from in-field sensors so that the company can proactively prevent leaks from bursting, sewer blockages from becoming spills, and notifying customers about issues on their properties so they can act quickly.

“Internet of Things devices are a game changer for the water industry. By deploying a range of different sensors into our water and sanitation networks, we can detect leaks, minimise water wastage and save our customers money,” Yarra Valley Water managing director Pat McCafferty said.

In March, Telstra teamed up with the Queensland government and the Bureau of Meteorology (BoM) to run an IoT pilot program to help local farmers gain access to more accurate weather forecasts so they can manage the effects of weather and climate change on their farms.

As part of the pilot’s first phase, 55 IoT weather stations will be deployed to existing Telstra mobile network sites, private farms, and at the Department Agriculture and Fishers’ research facilities in the Lockyer Valley, Esk, Gatton, Toowoomba, Cecil Plains, and Darling Downs areas, to gather “hyper-local” weather data.

The data collection and trial phases will run until late 2021, with Telstra saying the data will be freely available to project participants via the Telstra Data Hub.  

Back in 2018, Telstra partnered with “major water utilities” on its Digital Water Metering IoT solution in an effort to prevent water wastage and bring down customer bills. 

Telstra launched its NB-IoT network in January during CES 2018, with the company touting at the time the NB-IoT network would provide connectivity for IoT devices with smaller packets of data being sent, such as sensors in the mining, agricultural, transport, logistics, manufacturing, and industrial IoT industries.  

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Source: https://www.zdnet.com/article/telstra-wins-15-year-yarra-valley-water-iot-contract/#ftag=RSSbaffb68

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Oracle pledges to power global operations with 100% renewable energy

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Sunlight through the trees in the forest. Surrey, UK
Image: Getty Images/iStockphoto

Oracle has announced plans to power its global operations with 100% renewable energy by 2025.

This sustainability commitment will cover both its facilities and cloud operations, and builds on the existing sustainability priorities previously pledged by the company, including achieving 100% renewable energy use at all “next-generation” Oracle Cloud regions by 2025.

Oracle’s European Cloud regions are already powered with 100% renewable energy, and Oracle reports having 51 offices around the world using 100% renewable energy.

“Relying on renewable energy is an important step toward a more sustainable future,” Oracle CEO Safra Catz said. “Oracle will always make its biggest impact on the environment by providing customers with technology that enables them to reduce their carbon footprint, but this new goal reflects the shared values of our customers, partners, and investors.”

More from Oracle: Oracle wants to help you catalog your employees’ skills

Oracle has also previously committed to reducing e-waste, noting it collected 2.5 million pounds of retired hardware assets, of which 99.6% was either reused or recycled, during the 2020 financial year. It also touts decreasing the amount of waste sent to landfill at Oracle-owned buildings by 25% on a square foot basis since 2015.

It is also placing the responsibility on its suppliers, expecting that by 2025, all of its suppliers will have an environmental program in place.

“At Oracle, sustainability isn’t a slogan. It’s a concerted, constant, company-wide effort to do all we can to protect natural resources, minimise adverse environmental impacts, and lead the way toward a more sustainable future,” Oracle said previously in a blog post.

RELATED COVERAGE                                                                                            

A long-term battle: The tech industry’s role in combatting climate change

At a time when it has become a crucial part of staying in business.

Microsoft releases tool to calculate cloud-based carbon emissions

The company has also made further commitments to its goal to be carbon negative by 2030.

Your likes are getting greener: Facebook aims at net-zero emissions by 2030

The social media giant has announced new sustainability goals and a Climate Science Information Center.

Cloud providers compute a greener future

Microsoft’s joining of The Climate Pledge aligns the two biggest cloud computing providers at a time when cloud demand has skyrocketed and will only continue to grow.

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Source: https://www.zdnet.com/article/oracle-pledges-to-power-global-operations-with-100-renewable-energy/#ftag=RSSbaffb68

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