Disclaimer: The below announcement does not apply to Tokenize Malaysia users. For Tokenize Malaysia user please refer to announcements from https://medium.com/tokenize-malaysia
New feature of USD stablecoin has been auto credited under USD
We are excited to announce that the new feature of USD stablecoin, it will be auto-credited under USD.
What’s new with this?
USD Stablecoin deposits have been converted and reflected as US Dollars
Any supported USD Stablecoins deposited will automatically be converted to USD; This amount is converted at real-time market ratesand credited as USD to your Tokenize USD wallet.
Withdraw US Dollars from Tokenize as any USD Stablecoin that is supported on Tokenize Xchange.
Users that wish to make a USD withdrawal have the option to send the outgoing funds as a USD Stablecoin of their choice. This is done by sending the USD to an external wallet address, which Tokenize Xchange converts to the respective Stablecoin at real-time market rates.
This update enhances the trading experience for Tokenizers, and widen the variety of tradeable cryptocurrency pairs for our users. Apart from this, our support for other tokens remains unchanged.
Stablecoins supported: USDT, USDC, DAI
Tokenize Xchange Webinar “Getting to know DeFi”
Craving to know more about DeFi ? Our representative, Alson will be diving deeper on getting to know DeFi on Wednesday (30/09/2020) at 8.30 pm! 📈📉
If you are interested, please follow the link down below to join. See you then!
Link to join here.
What is a “CME Gap”?
On Jul 26, when the Chicago Mercantile Exchange (CME)opens, the price of Bitcoin futures shot up from $9,700 (closing price on Jul 24) to $9,900 (opening price on Jul 26). This sudden spike resulted in a gap formed in the CME, which also known as the ‘CME gap’.
Futures are agreements that require the parties involved to transact an underlying asset at a predetermined future date and price. Sometimes, there is no actual transaction of an asset taking place at the predetermined future date, also known as financially settled. Therefore, futures allow investors to gain exposure to the underlying asset without having to own it. On the agreed date, the parties involved calculate the price difference of the current price to the predetermined price. Hence, speculators use futures to speculate on the future price of the underlying assets.
It works the same as Bitcoin futures. Bitcoin speculators use Bitcoin futures to speculate on the future price of Bitcoin. If an investor is bullish on the future price of Bitcoin, they can buy the futures contract. On the expiry date of the contract, if the current Bitcoin price is higher than the stated price on his Bitcoin futures contract, he will earn the difference, and vice versa. At any point in time before the expiry of his contract, he can sell it off and earn the price difference between the price he bought and the price he sells at.
Read the rest of the article here.
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