Code:
Title: XT-Perps
Name: XT-Perps
Term: 1 Cycle
Cycle Amount: TBD
Total Amount: TBD
Author: Jeffrey
Receiver: Jeffrey
Address:
Status: Active
Vote Hash:Hi Everyone!
This proposal marks the changing point of our current markets, It's on to new things! And here I announce the first ever Perpetual market for PIVX through XT.com. Which is in fact in the top 10 biggest derivatives exchanges as ranked on CoinMarketCap.
This discussion with XT has been ongoing for some time and we have reached a point of agreement that will include various marketing campaigns, the first ever perpetual contract for PIVX and at a greatly reduced listing price of 60,000 USD.
I feel that having a perpetual market will attract more traders with a risk appetite to PIVX and open us to even more futures listings which I have made note of interest of to Binance, Gate and Bitmart.
Don't know what perpetuals are? I got you:
Perpetuals allow you as the trader to open a contract to "speculate" on the future price of the cryptocurrency in question with no expiration date. You can base this on the price being lower (short) than current spot price or going higher (Long). You as the trader will also be open to using leverage such as 2x, 5x or 20x and higher to further increase your risks but also amplify gains or losses. An example of how that looks can be seen here -
If you want to learn more I recommend a quick read over this - https://www.investopedia.com/what-are-perpetual-futures-7494870
Onwards to bigger things! We will keep building PIVX.
Funding:
To list PIVX as a perpetual contract on XT will now cost us 60,000 USD. This will likely be a series of 2-3 proposals where I will simply renew this one for the additional amount required.
Voting Details:
To Vote YES for this proposal:
Code:
mnbudgetvote many TBD yes
Code:
mnbudgetvote many TBD no