Ebi.xyz, a perpetual DEX built on Arbitrium One, announced the launch of a new product called 'FUD Market,' which will allow traders to short-sell meme tokens.
About the New Product
The 'FUD Market' product will be the first of its kind to offer perpetual short-selling of meme tokens. It is targeted at traders looking to capitalize on the short-lived popularity of meme tokens or hedge their positions in a rapidly changing market. According to the press release, the new product is set to launch later this month. The new product is also built on ebi.xyz's existing points program, aimed at encouraging trader participation.
Rationale for Launch
Since the inception of Pump.fun early this year, more than 2 million token addresses have been created and approximately 1.9 million meme coins have been successfully deployed. However, success stories are rare, and many traders face significant losses holding these tokens. Recognizing the need for more sophisticated trading strategies around these assets, ebi.xyz is introducing 'FUD Market' to enable traders to short-sell meme tokens, providing new ways to capitalize on market movements.
Reward System
Ebi.xyz's existing points system is already live and designed to encourage trader participation. Traders can earn points through trading, referrals, and social interactions. Dynamic rankings and leaderboard systems are also in the pipeline to further engage and reward participants.
The launch of the new 'FUD Market' product by ebi.xyz aims to provide traders with more tools for dealing with meme tokens and managing risk, offering new opportunities in a volatile market.
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