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Delta Exchange, a crypto derivatives platform, said Wednesday that it now offers futures trading on Solana (SOL) and Cardano (ADA). Initially, SOL and ADA call and put options will have a daily maturity, but weekly and monthly maturities will be rolled out later.
Delta Exchange Rolls Out Futures Trading on Solana and Cardano
Altcoin investors will get a new access point to leading tokens Solana and Cardano through Delta Exchange’s new derivatives offerings. The platform has launched futures trading for the tokens which will help traders get short-term exposure to such assets.
Notably, Delta already provided derivates related to Bitcoin (BTC), Ether (ETH), XRP, Binance Coin (BNB), and Bitcashpay (BCP). The company had announced a string of options products in mid-2020.
The crypto options market has been growing at a rapid pace this year, despite repeated threats from regulators. World’s largest cryptocurrency exchange Binance recently said that it will halt derivatives trading in Hong Kong amid heightening local scrutiny. Meanwhile, in the US, the Commodity Futures Trading Commission asserted that derivatives platforms are subject to its enforcement authority.
Lido Finance Expands to Solana’s SOL Token
Liquid staking protocol Lido Finance has launched a staking option for Solana. According to September 8 blog post, SOL holders can now stake their assets on Lido and get synthetic SOL tokens or stSOL in return.
Usually, crypto owners are unable to use their staked assets for a certain period when they’re dealing with centralized exchanges. However, with Lido, users get synthetics tokens in exchange for their staking, which can be used to earn passive rewards on decentralized finance (DeFi) platforms.
SOL is the third addition to Lido Finance after Ethereum and LUNA. As per, Lido’s chief marketing officer Kasper Rasmussen, SOL’s synthetic variant will be accepted at leading DeFi protocols such as Serum, Raydium, Saber Labs, Phantom, and SolFlare.
Lido is mostly known for its Eth2 staking solutions. In fact, it is currently one of the largest ETH staking addresses, “staking more than 1% of all ETH.”