DUBAI, DUBAI, July 6th, 2023, Chainwire
BIT, the cryptocurrency derivatives exchange, has partnered with Darley Technologies and DWF Labs to introduce options tied to Cardano's ADA token. LADYS Options, the world's first Meme-coin Options, has been launched for both institutional and retail traders. While options can be intimidating for new or existing spot traders, they offer the right to buy or sell an underlying asset at a certain price on or before a specific date. The core functionalities of options are binary: the right to buy the asset is a call option, and the right to sell it is a put option. LADYS Options on BIT Exchange creates new pathway for retail trading of meme coins.
"Our intention is to simplify access to options trading for all traders, providing an interface that is simple to understand and instruments that are in line with what communities are passionate about. Meme-coins are an excellent way to engage people to learn options trading" said Andrei Grachev, the Managing Partner of DWF Labs.
"We are proud to announce the listing of LADYS options as the world's first meme-coin options, made possible through the support of our esteemed partners, Darley Technologies and DWF Labs." Said Justin Buitendan, the Global Head of Institutional Sales of BIT, "Meme coins have experienced rapid growth, and we are thrilled to provide our clients with an additional avenue to enhance their trading strategies. LADYS options mark the starting point of an exciting journey, and there are more exciting opportunities on the horizon."
The incredible popularity of the LADYS token, as well as the sudden sprout of related projects, made it the perfect candidate for the first Meme-coin Option to be traded, thanks to the alliance between BIT, DWF Labs, and Darley Technologies.
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BIT is a cryptocurrency exchange designed for professional use, offering advanced risk management and fund efficiency through Portfolio Margin and Unified Margin. It was launched in August 2020 as an affiliate of Matrixport, a prominent crypto financial service company. BIT is one of the top platforms for innovative USD-margined trading pairs.
Darley Technologies is a liquidity provider for options trading in the cryptocurrency space. The company is based in Zug, Switzerland and brings together experienced scientists, developers, and traders to design and engineer advanced network infrastructures, technology, and trading algorithms. Its mission is to provide deep and reliable liquidity at competitive prices across multiple venues worldwide.
DWF Labs is a global digital asset market maker and investment firm that provides support from token listing to market making to OTC trading solutions. The company seeks to invest and support bold founders who want to build the future of Web3. DWF Labs is present in Singapore, Switzerland, South Korea, the BVI, and the UAE and trades almost 2,000 pairs with a daily volume that places it among the top 5 ranking entities trading on the world's top 40 exchanges.
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