London-based Xena Exchange states that it is now ready to launch a derivative contract for the Telegram token (gram). Xena Exchange Launches Telegram Crypto Derivatives.


In an announcement to the press, Xena Exchange said:

“XGRAM-listed perpetual contracts would now be publicly tradable. With leverage as high as 100x, the derivatives are intended to provide liquidity for GRAM ahead of its release, which could be as soon as the end of March.


Xena CEO, Anton Kravchenko, clarified that the improvement of the derivatives market is for institutional investors. Xena’s derivatives at first became accessible on Feb. 28 in beta for a predetermined number of clients and are currently open to everyone as of Tuesday, March 12.


“This is a significant step for the entire crypto market. Considering the importance of the gram token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts is used not only to speculate on the rate changes but also to hedge the risks.”

-Kravchenko said.


What are perpetual contracts?

Xena’s listed perpetual contracts are somewhat similar to futures. Like the future, a perpetual contract is an agreement to buy an asset at a predetermined price. The main difference is that perpetual do not expire.

Most trading platforms offer perpetual at high leverage, allowing investors to buy much more than they could otherwise afford. Those who purchase perpetual from BitMEX must pay interest, (depending on how high the leverage), at three designated times a day.

“In traditional markets, derivatives trading is 10 times higher than the volume of the underlying assets. Derivatives, such as tradable indices and futures, are useful for hedging as well as for leveraging trading profits,”

-Kravchenko said.


In 2018, Telegram’s TON blockchain project became a standout amongst the best initial coin offerings when it raised $1.7 billion from private investors. They later suspended public sale.


Before the gram derivatives launched, Xena issued derivatives known as Xena Listed Perpetuals, structured with the cryptocurrency market in mind. Right now, through bitcoin core, perpetual are settled. The settlements in fiat cash will become likely and the danger of BTC/fiat currency volatility losses decreased.


“The indices simplify investments and reduce the risks for investors due to diversification. Thus, we really stress the development of this side of Xena Exchange with Bitcoin and GRAM contracts as the first step,”

-Kravchenko said.

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