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Cronos-based Derivatives Platform Adds Support for XRP as SEC Litigation Nears End

source-logo  thecryptobasic.com 30 May 2023 11:07, UTC

Top DEX Fulcrom Finance adds a highly requested XRP trading pair, allowing traders to leverage up to 75x for profit-making opportunities.

In an exciting development for the XRP community, Fulcrom Finance, a leading decentralized exchange (DEX) built on the Cronos blockchain, has announced support for XRP on its platform. Traders can now leverage their positions and engage in long or short trades on XRP with a leverage of up to 75x, opening up new possibilities for profit-making opportunities.

📣$XRP trading pair is now available on @FulcromFinance!

1️⃣ Long/short $XRP up to 75x
2️⃣ Swap $XRP in Fulcrom Liquidity Pool with minimal fee
3️⃣ Supply FLP with $XRP

📍 https://t.co/Ej5AResb8l pic.twitter.com/b7jMadZU4l

— Fulcrom Finance (@FulcromFinance) May 29, 2023

Notably, the inclusion of XRP on Fulcrom Finance’s platform brings a host of advantages for traders looking to maximize their gains.

Firstly, the perpetual nature of the trading pair ensures that traders can hold their positions indefinitely without the need for expiration dates or rolling over contracts. This feature increases flexibility and eliminates the hassle of managing contract expirations.

Moreover, Fulcrom Finance offers a seamless swap experience for XRP holders. Users can easily swap their XRP tokens within the Fulcrom Liquidity Pool, enjoying minimal fees for the transaction. This feature simplifies the trading process and provides users a convenient solution for managing their XRP holdings.

Additionally, Fulcrom Finance encourages XRP holders to participate in its Fulcrom Liquidity Pool (FLP) by supplying their XRP tokens. By doing so, users can contribute to the platform’s liquidity, enabling smoother trading experiences for all participants.

This initiative aims to foster a vibrant and active trading environment while rewarding liquidity providers for their contributions. Notably, the move comes as the Ripple vs SEC lawsuit nears its terminus, although, being a decentralized exchange, Fulcrom Finance’s support will not trigger any response from the SEC.

However, XRP has missed an opportunity to be listed on several exchanges as a result of the SEC lawsuit. Should the final ruling favor Ripple, several exchanges based in the US, including centralized ones, could finally relist the asset or add support for it.

Last November, Newton Crypto, a Canadian crypto exchange, became the first platform to relist XRP nearly a year after it delisted the asset as a result of the SEC lawsuit. The latest decision came up despite the sustenance of the litigation. Other exchanges such as Coinbase are awaiting the resolution of the lawsuit to ascertain if it is legally permissible to list the asset.