[Passed] Proposal to launch: perps on ARS/USDC

Proposal to launch: perps on ARS/USDC

Brief

Argentina has one of the most active crypto ecosystems in the world.

One key reason is that the Argentine Peso (ARS) is one of the most volatile currencies, often cited by well-known crypto enthusiasts such as Tim Draper and Michael Sailor for losing nearly 99% of its value against the USD over the last decade. Government bond defaults and savings confiscations are also very frequent, Argentines basically do not have tools to protect their wealth other than buying USD notes and hiding them in their homes, or crypto which has the issue of short term volatility.

For these reasons, hedging the ARS/USD risk is vital for Argentinians, as well as most people living in Emerging Markets economies.

Background

EMDX has already announced a technological partnership with Matba Rofex to work on the integration of the official Matba Rofex (MTR) Chainlink nodes on the Avalanche network. By integrating the industry-leading decentralized oracle network, EMDX has access to high-quality, tamper-proof price feeds needed to securely relay real-time asset prices to EMDX’s.

Metrics

Traded Volume on “tradfi” venues.

Roughly USD 5B are currently traded on US Dollar Futures in Argentina on a daily basis.

Derivatives on foreing currencies

Rationale

Nowadays, the US dollar futures market in Argentina is only available to exclusive broker-dealers, excluding a large number of retail traders from participation.

A Web3 version of FX derivatives on LATAM currencies will open up a universe of opportunities for retail investors and financial players in Emerging Markets to enjoy tools for easily hedging while allowing those in developed countries to freely gain exposure in these types of assets.

In addition, there exist about 10M of crypto retail investors and pro-traders that operate exclusively on Argentinian spot exchanges without leverage nor the ability to hedge themselves from ARS/USD exchange rate volatility. Check https://coinmonitor.info/ to get a prime on the several implicit exchange rates available in Argentina, so to have an idea how helpful the product proposed here can be. They all might be (very likely) potential users for this EMDX product.

Should we pass this proposal to MGV (Motion Granted for Voting)?

  • Yes

  • No

0 voters

26.08.22 Update:
After been approved on the CMS Phase, the proposal advanced to the MGV (Motion Granted for Voting) stage. Tokenholders can now vote on Snapshot .

29.08.22 Update:
The Proposal passed the MGV stage and is now ready for implementation.

68 Likes

Proposal to launch: perps on ARS/USDC

vote for yes…!

4 Likes

Vote For Yes. :slight_smile: #EmdxCommunity

4 Likes

Proposal to launch: perps on ARS/USDC Support

1 Like

Another one…,what next and when next

1 Like

every thing is ok. its amazing…

1 Like

Yeah let’s go support this :fire:

3 Likes

Epic project…#EMDX #crypto

1 Like

i`m support to launch this proposal !

1 Like

Vote For Yes. :slight_smile: #EMDX

3 Likes

emdx :dizzy: vote yes ars/usdc

1 Like

I agree…keep support emdx🚀

1 Like

I think perps is good

1 Like

Vote yes , to support perps on #EMDX

1 Like

lets do this , build up EMDX better

1 Like

support EMDX to be growup and bigget at avaxchain …

1 Like

Vote for Yes in possitivity

1 Like

Yes. Day by day EMDX is growing with the comunity

1 Like

Nice for vote for YES

1 Like

vote for yes
yesssss be yes

1 Like