In another hot start-up announcement, cryptocurrency derivatives exchange BLADE has raised $4.3 million seed funding. The startup is backed by another cryptocurrency exchange Coinbase.
BLADE is a technology company focused on building a new foundational layer for the cryptocurrency markets, and eventually the global financial markets more broadly. VC firms such as SV Angel, A.Capital and Slow Ventures, among others participated in the funding round. According to a leading online resource, the company is less than a month away from its official launch.
BLADE is offering cryptocurrency exchange dedicated to ‘perpetuals’.
BLADE offers separate order books for the following perpetuals with more to follow:
- Bitcoin to US Dollars (BTC/USD) – Inverse Perpetuals
- Bitcoin to Korean Won (BTC/KRW) – Inverse Perpetuals
- Ripple to USD Tether (XRP/USDT) – Vanilla Perpetuals
- Binance Coin to USD Tether (BNB/USDT) – Vanilla Perpetuals
- Zcash to USD Tether (ZEC/USDT) – Vanilla Perpetuals
- Monero to Bitcoin (XMR/BTC) – Vanilla Perpetuals
- Dogecoin to USD Tether (DOGE/USDT) – Vanilla Perpetuals
In addition, the hot crypto startup is also offering a range of guides on Wallets and Transfer, Security, Bitcoin Deposits and so on. The official website states that BLADE currently accepts Bitcoin and Tether deposits. Moreover, these deposits are credited in cash wallets after 1 confirmation on the Bitcoin blockchain/Omni Layer.
How to place Orders with BLADE?
When users place orders, BLADE will first calculate the position’s post-trade liquidation price, initial margin requirement and earmarked exit fees as well as the order’s trading fee/rebate. BLADE’s crypto matching orders allow the trader to fix positions in pre and post-trade liquidation price, which result in preventing unrealized losses.
BLADE offers heightened security of user funds through multi-signature wallets. Of which, 100% of user Bitcoin funds are held in our offline (air-gapped) vaulted cold storage system and every withdrawal is audited manually by the BLADE security team.
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