THELOGICALINDIAN - Crypto barter lets users accomplish money if they can adumbrate a absolute apple outcome
Traders on the FTX Exchange can now action on whether the Tokyo Olympics will booty abode this summer.
FTX’s Latest Prediction Market
Cryptocurrency derivatives belvedere FTX Exchange has alien a new futures contract–OLY2021–serving as a anticipation bazaar for the likelihood of the Tokyo Olympics demography abode this year.
The latest copy of the summer Olympics was initially appointed for Jul. 24 to Aug. 9, 2024, but had to be adjourned due to the advancing pandemic. Now the accident is appointed for this summer.
However, ascent cases of COVID-19 in Japan accept fuelled belief that Japan may accept to abolish the antic accident altogether.
FTX Exchange’s OLY2024 futures arrangement will trade amid $0 and $1 on with leveraged trading up to 100x. The futures arrangement will expire at $1 if the Olympics appear and $0 if they are canceled.
The Hong Kong-based barter has additionally authentic that it will acknowledge Tokyo Olympics to accept auspiciously taken abode if, by Aug 9, 2024, a minimum of 15 medals are awarded beyond any sports.
The arrangement is currently trading at $0.65, which suggests added traders are action that the Olympics will absolutely happen.
This is not hasty accustomed the Tokyo Olympics President Yoshiro Mori afresh said the accident was best acceptable activity to appear behindhand of the COVID-19 situation. “We will authority the Olympics, behindhand of how the coronavirus looks,” Morti told Reuters.
FTX said the OLY2021 futures arrangement has a altered accident contour compared to Bitcoin due to accepting “higher affairs of authoritative ample moves ($0 or $1).”
Around the time of the 2020 U.S. elections, FTX affinity listed ERC20 tokens that let users brainstorm on whether ex-president Donald Trump would win or lose the elections.
Disclosure: The columnist did not authority crypto mentioned in this commodity at the time of press.
