Solana-Based Crypto Exchange Drift Plans Pre-Launch Market for New Tokens

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

There's soon to be a marketplace on Solana for trading tokens that don't yet exist.blockchain – plans to expand into"pre-launch markets," too, with a service that lets traders bet on the price of tokens before they start officially trading.

But these so-called governance tokens are fundamentally financial assets. They trade on unregulated exchanges where buyers and sellers are filled – often chaotically – by market makers and algorithms. The first moments of their trading lives are often highly volatile. How does one price an asset that didn't exist before?

"If it's an efficient market it should price well enough to launch close to the starting price," she said in a recent interview with CoinDesk conducted over Telegram. Drift is putting liquidation guardrails up that will stymie runaway prices, according to a blog post. It will also require traders to settle up any debts they've accrued on other trading products, some of which allow for risky leveraged positions.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 291. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Meme coins, Solana, AI tokens emerge as outliers in crypto market bloodbathSolana (SOL) and Solana-based meme coins such as Dogwifhat (WIF), Sillycat (SILLYCAT) or Popcat (POPCAT) observed an increase in price on Friday.
Bron: FXStreetNews - 🏆 14. / 72 Lees verder »