Which digital currencies can be used as underlying assets for defi derivatives?

3 answers

• Dec 28, 2021 · 3 years ago
  There are several digital currencies that can be used as underlying assets for defi derivatives. Some popular options include Ethereum (ETH), Bitcoin (BTC), Chainlink (LINK), and Polkadot (DOT). These cryptocurrencies are widely accepted and have a strong presence in the defi space. They provide a solid foundation for creating various types of defi derivatives such as decentralized options, futures, and swaps. Additionally, these digital currencies have a large user base and liquidity, making them ideal choices for defi derivatives.
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• Dec 28, 2021 · 3 years ago
  When it comes to defi derivatives, the options are not limited to just a few digital currencies. In fact, there are hundreds of cryptocurrencies that can be used as underlying assets. Some other notable examples include Cardano (ADA), Binance Coin (BNB), and Solana (SOL). These digital currencies offer unique features and advantages that make them attractive for defi derivatives. It's important to note that the choice of underlying asset depends on various factors such as liquidity, market demand, and the specific requirements of the derivative product.
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• Dec 28, 2021 · 3 years ago
  At BYDFi, we offer a wide range of defi derivatives that can be backed by different digital currencies. Our platform supports popular cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), and Binance Coin (BNB) as underlying assets. We believe in providing our users with diverse options to suit their trading needs. Whether you're interested in decentralized options, futures, or other types of defi derivatives, you can find a suitable choice on our platform. Explore the possibilities and take advantage of the growing defi ecosystem with BYDFi.
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