Leverj, a decentralized platform for cryptocurrency derivatives trading, which is supported by ConsenSys, the world’s largest Blockchain venture studio – plans to unveil its highly anticipated platform to traders interested in leveraged cryptocurrency trading.
The Seychelles-based project will enable users to place and manage positions on digital currencies, as well as futures on major equities indices and single stock futures, all in a decentralized way.
Counterparty and custodial risks associated with current cryptocurrency trading will be significantly mitigated while reducing latency and settlement times. The Leverj platform will be built on the Ethereum platform and powered by sophisticated smart contracts.
Leverj CEO Bharath Rao, a former Wall Street and GE Research veteran, said:
“Enabling exposure to the top cryptocurrencies using only ether as the currency of settlement is an important market need. The ability to get exposure to the top tokens without the need to manage multiple wallets is highly appealing for speculation and hedging. The Leverj platform eliminates security issues with wallets and nodes of new tokens. Based on our research and customer demand, we have developed a modular, easy-to-use UX with trustworthy, reliable APIs that will make the exchange appeal to all traders. We expect to see ample migration from users of centralized exchanges.”
The derivatives market is the largest market in the world, estimated to be worth $1.2 Quadrillion USD and growing at 30% per year. Cryptocurrency has grown by 10x in 2017, and Leverj will provide instant and easy access to both markets through its platform at a crucial time for the industry.
“Previous efforts to establish markets for leveraged cryptocurrency derivatives have focused on centralized exchanges, which traders must fully trust to custody their funds. In an environment where even the biggest and most security-conscious exchanges experience loss of funds through hacks, a focus on security using the original principles of bitcoin and decentralized financial systems becomes more important than ever,” said Rao.
Leverj will offer stops and enhanced reporting, including historical trading information about top cryptocurrencies sourced from Brave New Coin, along with simulated trades, trade replays, and peer subscriptions to gain insight from highly skilled traders.
ConsenSys, a globally recognized leader in Blockchain technology, will serve as a technical advisor to Leverj and support the project’s forthcoming token launch. Employing top experts in smart contracts, token design, and cryptographic security, ConsenSys brings deep experience building software on the Ethereum platform, which was co-founded by the firm’s founder, Joseph Lubin.
“As a global leader in Blockchain technology, ConsenSys is committed to building software that helps expand the ecosystem around Ethereum, the most advanced Blockchain platform powered by the world's largest developer community. In this spirit we are proud to support Leverj, which promises to make significant strides toward this goal by improving security and usability in trading,” said ConsenSys founder Joseph Lubin.
CEO and Founder Bharath Rao has a strong background in Wall Street investment banking, serving in roles with increasing levels of responsibility at bulge bracket banks including J.P. Morgan, Goldman Sachs, and Credit Suisse, as a software engineer supporting trading desks, reporting, research, foreign exchange, and equities.
“In the past, decentralized exchanges have been more concerned with academic discovery and protocol research while generally ignoring the quality of the user’s experience. Leverj stresses the importance of usability. To that end, we aim to create a stable platform with liquid markets, reliable stops, no slippage, and provable compliance, security and privacy. We are incredibly proud to launch an unprecedented product that will have a profoundly positive impact on the rapidly growing cryptocurrency trading space,” said Rao.
More information about Leverj is available at https://leverj.io/.