https://www.idap.io
IDAP, which stands for International Digital Assets Platform, is a very exciting new ecosystem for trading cryptocurrency derivatives. This ecosystem is made up of the exchange, derivative trading instruments, and an advanced desktop trading application. The derivatives market is hugely popular for traditional trading instruments like stocks and bonds, but so far cryptocurrency derivatives are very hard to find. IDAP aims to become the most widely used marketplace for crypto derivatives. Derivatives are a very important part of trading and risk management. IDAP plans to offer futures, options, swaps, spreads including calendar spreads and butterfly spreads, and crypto indices. Their trading platform will have the advantage of very low latency and an institutional quality orders system. Combine that with high tech analytic tools and charting, and you have a great trading ecosystem.
I will now discuss some of their proposed trading products in further detail. Futures on major cryptocurrencies will be offered with three months available, and the goal is to increase the number of contracts over time. The margin requirements will use Bitcoin, and requirements will vary depending on the futures contract. All futures contracts will be cash settled.
IDAP will also be offering calendar spreads and butterfly spreads. I think this is terrific. Using these kinds of spreads is a way to reduce risk when compared to holding outright futures. A calendar spread is when you are short one futures contract, and long another of the same underlying with a longer dated expiration. A butterfly spread would span three different expiration contracts. You would buy one month, sell two of the second month, and buy one of the third month. This creates a very neutral position.
Options offered on the platform will be American style options, with the possibility of adding European style options later. IDAP will also be offering derivatives based on a crypto index. This is great if you want to trade to overall market.
These are only a few of the many features and products that are going to be offered by IDAP. It looks like a great ecosystem, and I am really looking forward to trying it once it is released. The cryptocurrency world really needs access to a derivatives platform like this. To read more about IDAP, I have listed some important links below this article.
Whitepaper: https://www.idap.io/docs/idap-io-whitepaper.pdf
My bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1420457