Now, when the derivatives engine is launched and successfully works and attracts traders all over the world — the first ever leveraged derivative contract on GRAM enters the scene. Being one of the most sensational and debated initial coin offerings, Telegram TON blockchain project raised $1.7 billion from private investors and left minor bill market participants kick themselves waiting for GRAM to enter the exchanges.

This case seemed to be the piece of injustice for many investors, and now when GRAM contract is launched the doors open for them to jump in and earn on the potential rate hikes. At the same time, current GRAM holders are able to hedge their investments against possible exchange-rate drops.

“This is an extremely prominent step for the entire crypto market, considering the importance of the GRAM token and its potential value as an asset for derivative contract trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on rates changes but also to hedge the risks.”

Anton Kravchenko,
CEO of Xena Exchange

GRAM contract is a leveraged instrument that mirrors the price of the underlying asset. As the token are not yet listed on spot exchanges, the price for the contract will be determined according to the price discovery process. In his story on Medium, Anton Kravchenko, CEO of Xena Exchange, covers the advantages of price discovery against valuation and shares his prognosis on the contract price changes. He believes that the GRAM contract is likely to rebound positively on the actual GRAM token price.

“We expect that the trading volume and the demand for the new contract will be high. Possibly, the GRAM contract price will go up due to the influx of new buyers while the sellers who are the current GRAM holders are unlikely to get short positions outside the spot market. That is to say, if someone wants to sell GRAM, they are likely to put the orders on spot exchanges and sell for BTC. This is why we expect the GRAM synthetic contract price to grow.”

Anton Kravchenko,
CEO of Xena Exchange

Xena Exchange was also one of the early Telegram Passport adopters, as mentioned in the Telegram TON official blog. Currently, Xena Exchange is the only exchange on the market which practically has two engines — a derivative and a spot one. The institutional-grade derivative contracts called Xena Listed Perpetuals are designed with a focus on the specifics of the cryptocurrency market. While allowing for high leverage (up to 100x), they utilize built-in mechanics to protect traders from sudden price swings and unnecessary liquidation. Currently, perpetuals are settled in BTC and other cryptocurrencies, and only accounts nominated in Bitcoins are supported. In the future, the ability to pay margins and provide collateral in fiat currency will also be possible, rending the currency risk of Bitcoin null. Additionally, perpetuals do not expire, which gives them an advantage over futures, and they adopt the current spot price of the underlying asset or index.

We’re submitted a series of articles which are aimed at giving you a deeper understanding of what perpetuals are about:

Start trading perpetuals with GRAM contract

Today, you have a great opportunity to become one of the first GRAM contract traders. To get started you need to create a margin account and make a deposit. In case you face some problems, the Help Center is always there to provide you with the necessary aid.