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Throughout the past few years, the emergence of decentralised finance and blockchain-based cryptocurrency transactions has revitalised the market for virtual currencies. DeFi exchange platforms have implemented a variety of innovations and cutting-edge features to encourage the trading of cryptocurrencies, including stablecoin creation, asset tokenisation, and cryptocurrency lending. The Crypto derivatives, of which Bitcoin Futures is the most well-liked, are one such fantastic service provided by DeFi platforms.
This blog will discuss what we can achieve from Cryptocurrency Derivatives Exchange like FTX. We will also explore how to launch Cryptocurrency Derivatives Exchange like FTX using an FTX Clone Script.
Let us first understand what is Crypto Derivative trading
Crypto derivatives are similar to traditional derivatives in the sense that they are contracts between two parties to trade an underlying asset. These assets are sold at a predetermined time and price, and don’t have an inherent value themselves but rather rely on the value of the underlying asset.
A platform or exchange that allows the users or related parties to conduct derivative trading is called a Crypto derivative trading exchange platform. FTX is a prominent name in the crypto derivative space and it is by far one of the biggest crypto derivative trading platforms.
To create a Cryptocurrency Derivatives Exchange like FTX, there are multiple options that include:
- Developing the exchange from scratch
- Developing the exchange using an FTX Clone Script
The first option to develop the platform from scratch needs lots of time and resources. You may need a huge team of developers to create such a platform. It will also require lots of supervision and management to achieve the desired results. The development cycle may have multiple legs and may take more than a year to complete the project.
The second option is a far better approach if you are looking for a quick fast developed and deployed final product with your desired features and attributes.
Let’s explore more about the FTX clone script.
FTX Clone Script
The FTX Clone Script is a precoded, ready-to-use, mirror copy of the existing FTX platform that can be quickly designed and developed as a finished product. FTX clone script allows the developers to customize the solution as per your own requirements and business goals.
Launch Your own Cryptocurrency Derivatives Exchange like FTX
Schedule Free DemoSome important aspects you must cover with your FTX Clone Script
- Futures
On quarterly and perpetual future combinations, investors can make short-term and long-term speculations on well-known coins. Stablecoins like USD and tether (USDT) are used as security to begin and retain deals. - Gained tokens
Using ERC20-based tokens, FTX offers investors up to 3 times hedged access towards the underlying commodity combination. There are no margin restrictions for the leveraged tokens offered by FTX. - Options
To speculate on anticipated market movements and protect open holdings, investors can utilise a range of calls and puts. The holders of both options have the choice to acquire and offer at a potential value, but they are not bound to do so. - MOVE
Such agreements enable investors to make fluctuation bets on the amount of market volatility of a virtual currency over a specified period, irrespective of an upward or downward trend. The agreement is profitable till the value of the underlying coin increases or decreases by more than a particular USD value.
Functionality and fundamental elements that make your Crypto Derivative Exchange special:
#1. Automated Trades
By automating transactions and removing the need for middlemen, derivative trading makes trading faster and more effective.
#2. Enhancements with Liquidity
Leveraging liquidity tools on the derivative trading platform generate liquidity immediately following a satisfactory trade. The advantages to the members will be considerably impacted by these liquid assets.
#3. Wallet for Cryptocurrencies
In today’s cryptocurrency world, the system must support interoperability with other well-known wallets and be capable to deal with several coins. This makes it easier for individuals to participate.
#4. Admin Panel Ahead
A strong admin panel that resolves customer inquiries around-the-clock, 24/7, should be offered by the platform. The system’s potential to grow is aided by the constant services to the customer via the admin panel. Also, marketing insights should also be made available on such an admin panel that keeps the management updated with the user base and user activities at macro and micro levels.
#5. Robust Trade Engine
The software must be equipped with a strong trade engine that takes into consideration an efficient system for assets management that handles the fund that will be delivered to both parties after a formal contract is formed.
#6. Accessibility Options in Several Languages
For the convenience of the accessibility function, which enables fund movements simpler and more secure, the system must be able to interact in a variety of languages.
Conclusion
Building a Cryptocurrency Derivatives Exchange like FTX could seem like a daunting challenge. The business idea might, nevertheless, turn out to be lucrative.
Antier offers specialised services for the Launch of Cryptocurrency Derivatives exchanges like FTX with the assistance of our development teams. If you need to build a new exchange from scratch or want to have a steadfast development cycle with the FTX clone script, we have all the solutions that will be specific to your business needs.
