Coinbase International Exchange has announced that it will list Worldcoin and Ordinals perpetual futures products on April 11. These perpetual futures, also known as perpetual swaps, are derivative contracts that do not have an expiration date and allow traders to hold their positions indefinitely. The Ordinals perpetual futures will trade under ORDI-PERP, while Worldcoin will be trading under WLD-PERP. Coinbase exchange provides institutional clients with access to over 30 perpetual futures and spot markets.
Worldcoin is a project founded in 2019 with the goal of becoming the world’s largest privacy-preserving human identity and financial network, giving ownership to everyone. Its native token, WLD, is a utility token with governance properties that allow users to have a say over the future of the protocol. On the other hand, ORD is a cryptocurrency that runs on the Bitcoin protocol and presents information such as text and images as NFTs and tokens. The majority of ORDI tokens have been airdropped to users, indicating a distribution strategy that involves giving tokens to a large number of people.
Perpetual futures contracts are a type of derivative financial instrument commonly traded on cryptocurrency exchanges. Unlike traditional futures contracts, perpetual futures do not have an expiration date, allowing traders to hold their positions indefinitely as long as they maintain the required margin. These contracts mimic the price of the underlying asset, typically a cryptocurrency like Bitcoin or Ethereum, settling periodically to the spot price of the asset. Funding payments are used to help keep the perpetual futures price in line with the spot price by transferring funds between long and short positions.
In the context of perpetual futures trading, traders use these contracts for various purposes such as speculation, hedging, and arbitrage. However, it is crucial to note that trading perpetual futures involves significant risks, including volatility and the potential for liquidation if margin requirements are not met. Coinbase International Exchange aims to provide institutional clients with access to a wide range of perpetual futures and spot markets, allowing them to engage in trading activities with diverse financial instruments. Adding Worldcoin and Ordinals perpetual futures to its platform expands the range of products available to users and further enhances the exchange’s offerings.
The listing of Worldcoin and Ordinals perpetual futures on Coinbase International Exchange is a significant development for the cryptocurrency market, providing traders with additional options for trading derivative contracts. These perpetual futures, which do not have an expiration date, allow traders to hold their positions indefinitely as long as they meet the necessary margin requirements. With the introduction of these new products, institutional clients will have access to a wider range of financial instruments on the exchange, enabling them to engage in various trading strategies such as speculation, hedging, and arbitrage. However, it is important to be aware of the risks involved in trading perpetual futures, including volatility and the potential for liquidation if margin requirements are not maintained.
