SynFutures, a decentralized derivatives trading platform, announced on September 19 its new trading options tied to the Trump vs Harris presidential election saga. The platform introduced two perpetual futures contracts that allow users to speculate on the outcome of the 2024 election between Vice President Kamala Harris and former President Donald Trump.
SynFutures Protocol Adds Perpetual Contracts Trump vs Harris Polymarket Bets
According to the announcement, traders will be able to engage in the futures market through contracts that pair USDC, a popular stablecoin, with either Harris or Trump. These new perpetual futures are referred to as TRUMP-USDC and HARRIS-USDC. It enables participants to place wagers on who will emerge victorious in the 2024 election.
Moreover, the contracts are designed to reflect the odds offered by Polymarket, a prominent prediction and betting market. For further context, perpetual futures contracts are a familiar instrument in the cryptocurrency industry, often used for assets such as Bitcoin and Ethereum. Unlike traditional futures, which expire at a predetermined date, perpetual contracts allow for continuous trading with no expiration. This mechanism is particularly attractive to traders seeking to speculate without needing to own the underlying asset directly.
SynFutures’ new contracts on Trump vs Harris bets, offering up to 10x leverage. These contracts are aimed at tapping into the increasing interest in predictive markets surrounding political events. Moreover, these types of derivatives allow traders to amplify their potential returns (and risks) depending on the leverage applied.
24-Hour Price Change and Other Details
The trading figures, as revealed by SynFutures, indicate that the TRUMP-USDC pair currently trades at $0.47661, gaining 0.72% in the past 24 hours. Meanwhile the HARRIS-USDC pair is priced at $0.52453, up by 0.24%. Whilst, trading volume in the past 24 hours exceeded $366,000 for the Trump contract, while the Harris contract saw over $105,000 traded.
Also. it’s important to not that the settlement date for these contracts is set for November 4, 2024, just before the U.S. election day. Moreover, for the first week of trading SynFutures offers up to 200x leverage for Trump vs Harris perpetual contracts.
Meanwhile, Polymarket data currently suggests Harris holds a slight edge with a 52% chance of winning. However, Trump lags behind with 47% win odds despite the crypto community’s support.
Also Read: Donald Trump Buys Burgers With Bitcoin; Burger Themed Memecoins Surge
Credit: Source link
