LADYS options on BIT paves way for retail trading of meme coins

DUBAI, DUBAI, July 6, 2023, Chainwire

The cryptocurrency derivatives exchange BIT has partnered with Darley Technologies and DWF Labs to enhance the options trading market. 

Recently, BIT rolled out options tied to Cardano’s ADA in collaboration with strategic partner Darley Technologies and market maker DWF Labs. 

LADYS options marks a significant milestone in the industry as the world’s first Meme-coin options brought to the market for institutional and retail traders.

For new or experienced spot traders, options can seem daunting. These derivatives allow traders to buy or sell an underlying asset at a predetermined price by a specific date. Essentially, options come in two forms: call options give the right to buy the asset, while put options give the right to sell it.

Andrei Grachev, the managing partner of DWF Labs, said:

“We intend to simplify access to options trading for all traders, providing an interface that is simple to understand and instruments that align with what communities are passionate about. Meme-coins are an excellent way to engage people to learn options trading.”

Justin Buitendan, the global head of Institutional Sales of BIT, remarked:

“We are proud to announce the listing of LADYS options as the world’s first meme-coin options, made possible through the support of our esteemed partners, Darley Technologies and DWF Labs. Meme coins have experienced rapid growth, and we are thrilled to provide our clients with an additional avenue to enhance their trading strategies. LADYS options mark the starting point of an exciting journey, with more exciting opportunities on the horizon.”

Due to the rise of related projects and the popularity of the LADYS token, it was chosen as the ideal meme coin for options trading. This decision was made possible by the partnership between BIT, DWF Labs, and Darley Technologies.

About BIT

BIT is a cryptocurrency exchange designed for professionals. It has advanced risk management and fund efficiency supported by Portfolio Margin and Unified Margin.

BIT was launched in August 2020 as an affiliate of Matrixport, a crypto-financial service company. BIT is one of the top crypto options trading platforms offering USD-margined trading pairs.

About Darley Technologies

Darley Technologies is a liquidity provider for options trading in crypto, aiming to provide deep and reliable liquidity at competitive prices. Based in Zug, Switzerland, the heart of Europe’s blockchain ecosystem, Darley Technologies brings together experienced scientists, developers, and traders to design and engineer advanced network infrastructures, technology, and trading algorithms, enabling it to execute its mission across multiple venues worldwide successfully.

About DWF Labs

DWF Labs is a global digital asset market maker and multi-stage web3 investment firm, providing support from token listing to market making to OTC trading solutions. DWF Labs seeks to invest in and support bold founders who want to build the future of web3.

DWF Labs is present in Singapore, Switzerland, South Korea, the BVI, and the UAE and trades almost 2,000 pairs with a daily volume that places DWF Labs among the top 5 ranking entities trading on the world’s top 40 exchanges.

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Contact

Managing Partner DWF Labs

Andrei Grachev

[email protected]