Ethereum-based synthetic asset issuance platform Synthetix is adding new features, which includes derivatives trading.

In a March x web log post, Synthetix appear plans for trading in binary options in the third quarter of this year. Binary options are a type of derivative fiscal production where the buyer either receives a payout or loses their investment.

"Synthetic binary options will likely generate significant trading volume every bit they will be able to leverage the liquidity of the debt puddle, assuasive a trader to take a large position almost immediately without needing to find a counterparty."

In addition, the non-custodial crypto exchange listed several improvements to its existing products, including the "launch of sX v2, new crypto Synths and crypto alphabetize tokens."

New features include leveraged and futures trading

For its second quarter, Synthetix is supporting new avails like "equities and exchange-traded funds." The exchange is planning to offer leveraged trading on tokens.

"Leveraged trading drives a significant amount of volume on crypto exchanges, and while synthetic futures volition compete directly with centralised futures platforms, there is a lot of value in supporting tokenized leverage. We will initially test leveraged tokens using fiat currencies like the Euro and AUD. Nosotros expect to support 5x and 10x BTC tokens both long and curt soon later on we launch fiat leverage tokens. Post-obit the rollout of BTC nosotros will expand the offering to other large cap crypto tokens."

The Ethereum-based platform revealed its plans for several features in 2022, including optimistic rollups, Ether/DAI/BTC collateral, trading incentives, advanced order types, and synthetic futures. For these futures, Synthetix said it would support any asset:

"Synthetic futures trading volition be much more flexible and will back up any nugget on sX. This opens up the possibility for leveraged trading on many different asset classes simultaneously, including cryptoassets, equities, and commodities. We expect leverage volition initially exist capped at 10-20x…"

Crypto exchanges considering binary options

Synthetix isn't the only crypto exchange seeing the potential of offer derivatives trading. Fifty-fifty earlier the Supreme Court of India lifted a ban on banks dealing with crypto, the Unocoin substitution was planning to launch derivatives options on its platform.