Kucoin just launched a USDT-margined futures for the two DeFi platforms Uniswap (UNI) and yearn.finance (YFI). According to a blog post released by the exchange, the two products were launched on September 28, 8.00 (UTC).
#KuCoinFutures will be launching USDT-Margined Uniswap $UNI and Yearn Finance $YFI Perpetual Futures at 08:00 on September 28, 2020 (UTC), supporting 1-50x leverage. Please stay tuned.https://t.co/EMKpSaB79d pic.twitter.com/7GVz2xRvcg— KuCoin Futures (@KuCoinFutures) September 28, 2020
The futures would enable traders to leverage up to X50 of their funds in trading the now popular liquidity products. Kucoin futures are traded on the company’s website and through their app.
The release said that UNI, the Uniswap token is positioned to be self-sustaining as it leads in community growth as a governance and liquidity token.
Uniswap is now particularly well-positioned for community-led growth, development, and self-sustainability. The introduction of UNI (ERC-20) serves this purpose, enabling shared community ownership and a vibrant, diverse, and dedicated governance system, which will actively guide the protocol towards the future.”
YFI, the second token that would be available for futures contract on Kucoin is the token of a DeFi, yearn.finance, dedicated to liquidity aggregation, making of markets and leveraging trades.
Kucoin security was breached on September 26. The hacker made away with coins valued at $200 million.