The Telegram token (gram) has started trading as a perpetual contract on London-based Xena Exchange. On Mar. 12, the crypto exchange launched a derivative contract for gram, with up to 100x leverage. The Xena-listed perpetual contracts are publicly tradable and are intended to provide liquidity for the gram token ahead of its release later this year.
Derivatives Aimed at Institutional Investors
Xena’s derivatives initially became available on Feb. 28 in beta for a limited number of users and are now open to the public with effect from Tuesday, March 12. In a statement, Xena chief executive officer Anton Kravchenko explained that the development of the derivatives market was aimed at institutional investors.