BYDFi Announces New Perp Contracts and Spot Listings

Crypto exchanges often expand their offerings to cater to the demand for diverse trading options. BYDFi recently added new exciting projects to its perpetual contracts lineup. The projects include Blast, List, Golem, and Renzo.

BYDFi is a good place for perpetual contracts, a popular derivative tool. Perpetual contracts allows traders to speculate on the price movement of assets without the need for an expiration date. Perps contracts have great flexibility. This makes them an attractive option for traders seeking to maximize their investment.

Perps contracts have significant advantages over traditional spot trading. For example, they provide the ability to leverage positions, which can amplify positions. Traders also stand a chance to profit from rising and falling markets.

In addition, perp trading often comes with lower trading fees than spot trading. This makes them a cost-effective choice for traders. Furthermore, the 24/7 nature of crypto markets means that you can trade these contracts at any time.

New BYDFi listings

Thinking of what to add to your portfolio? These new BYDFi listings provide good value propositions. And are a good way to diversify your holdings. Let’s get to them.

Blast

Blast is an EVM-compatible Ethereum layer 2 solution. The Layer 2 operates as an optimistic rollup. So, it tackles Ethereum’s scalability problems by batching multiple transactions. And then delivering them at once. This way, it provides faster transaction speeds at cheaper fees.

Blast had its testnet and mainnet launch earlier this year. And has since grown into a prominent layer 2 solution. Blast’s native yield idea and staking program are its biggest appeals. Blast also claims to offer gas fee subsidies for dapps. Blast believes its cheaper fees will come in handy for traders on Blur, an NFT marketplace founded by the Blast team. These traders can now trade NFTs at cheaper fees.

Blast provides 4% interest rates for ETH deposited on the network. In addition, it offers a 5% interest rate for stablecoins deposited on its network. Blast supports popular stablecoins like DAI, USDT, and USDC. Blast claims that interest on these stablecoins is compounded. This means users’ balance on the network increases with time. So, the interest applies to the current rather than the initial balance. The Blast team claims that its native yield comes from RWA protocols and ETH staking.

As mentioned earlier, Blast is growing in popularity. And this is thanks to its native yield feature. You can now trade Blast perpetual contracts on BYDFi.

Lisk

Lisk is a Layer 1 blockchain. The project seeks to facilitate the development and execution of decentralized applications. Lisk makes it easy for developers to build in a familiar environment. It allows them to write programs using the Javascript and Typescript languages. These are both popular web languages.

Lisk enables developers to build dapps using its sidechains. These sidechains are unique blockchains within the Lisk Network. They are customizable to suit the needs of each dapp. The Lisk token, LSK, is used to pay for operations. And for voting. LSK currently trades at $0.9183. It has a market cap of $133,569,748.

Golem

Golem is a DePIN-focused project. It operates more like Akash or Render, helping people with excess GPU power rent it out for rewards. Golem is a decentralized computing network that has been around since 2015. Users can supply or lease their hardware on Golem. The project first started by serving 3D users. But has since expanded its focus to AI. Golem is one of the AI-DePIN projects with strong growth potential. Users who provide their services on Golem are rewarded with their GLM token. You can now trade GLMUSDT on BYDFi.

Renzo

Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. EigenLayer is an Ethereum-based protocol. It first introduced restaking as a primitive. So, users restake their ETH tokens on EigenLayer to other protocols. Now, Renzo is an EigenLayer protocol that serves as an interface to its ecosystem. In simple terms, Renzo emerged to promote the adoption of EigenLayer and restaking.

The process is pretty basic. Users can deposit ETH, WETH, stETH or wBETH directly to Renzo. In return, they receive ezETH, Renzo’s liquid staking token. Holding ezETH provides points for holders. EzETH is a yield-bearing token. This means it accrues rewards directly to the token, which is reflected in its price. Furthermore, Renzo has integrations with other chains and DeFi apps. This include Pendle and Zircuit. REZ is the governance token of the Renzo Protocol,backed by ezETH. You can now trade REZUSDT on BYDFi.

All of these above are available on the perps market.

New spot trading token: WATER/USDT

BYDFi listed WATER in its spot trading zone. $WATER is a charity token with meme tokenomics. The project seeks to ensure transparency and fair distribution amongst holders. Interestingly, Water has secured listings on some exchanges. And is now available on BYFDi.

In conclusion, all discussed coins in this article are available on BYDFi. Did you know that BYDFi offers spot trading in 400+ tokens with no KYC? You can also trade with only 0.6% futures & 0.1% spot fees, receive free trading signals, and earn nearly $2,000 in bonuses. For more info, just click here.

And remember, you can trade Spot without KYC and perp markets with KYC from nearly anywhere in the world with BYDFi. That includes Americans and Canadians. So give BYDFi a try today and get some cool bonuses when you sign up too.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by BYDFi.

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