The First-ever Leveraged Derivative Contract on GRAM to be Launched on Xena Exchange

  • Development of derivatives market for cryptocurrencies aimed at institutional investors
  • More mature infrastructure for investors aims to reduce volatility and increase trading volumes for cryptocurrency markets
  • Use of leverage enables increased returns of up to one hundred times initial funds invested

March 12, 2019

The Xena Exchange platform for digital assets trading is ready to launch the first-ever leveraged cryptocurrency-settled derivative contract for the GRAM token on March 12th. This is a significant step towards the liquidity of GRAM, as Telegram TON project investors will be able to trade the derivative contracts before the GRAM tokens are actually issued.

The Telegram TON blockchain project has become one of the most successful ICOs of 2018, raising $1.7 billion from private investors and leaving those who missed the token sale waiting for GRAM to enter the exchanges. The launch of the derivative contracts on the GRAM token means that those who passed up the chance to invest will now be able earn dividends on the potential rate hikes. At the same time, current GRAM holders will be able to hedge their investments against possible exchange-rate drops. Before, Xena Exchange was one of the early Telegram Passport adopters as mentioned in the Telegram TON official blog.

“This is a significant step for the entire crypto market, considering the importance of the GRAM token and its potential value as an asset for derivative contracts trading. This is the first time on the cryptocurrency market where contracts have been used not only to speculate on the rate changes but also to hedge the risks.”

Anton Kravchenko,
CEO of Xena Exchange

The launch of the GRAM cryptocurrency-settled derivative will take place shortly after Xena Exchange releases the derivative contracts-trading engine in addition to the existing spot engine on February 18. The first cryptocurrency-settled derivative contract to be launched will be a contract for Bitcoin to USD. The launch provides people with the opportunity to invest in cryptocurrency through contracts and aims to attract institutional and traditional investors, generating cash flows into the crypto market, increasing the trading volume, and lowering volatility.

Xena Exchange issues institutional-grade derivative contracts called Xena Listed Perpetuals, designed to focus on cryptocurrency market specifics. While allowing for high leverage (up to 100x), they utilize built-in mechanics to protect traders from sudden price swings and unnecessary liquidations. Currently, Perpetuals make the settlement through BTC, and later, the settlement of fiat currency will also become possible and the risk of BTC/fiat currency volatility losses will be rendered null. Additionally, Perpetuals do not expire, which gives them an advantage toward futures, and they adopt the current spot price of the underlying asset or index.

“In traditional markets, derivatives trading is 10 times higher than the volume of the underlying assets. Derivatives, such as tradable indices and futures, are useful for hedging as well as for leveraging trading profits. The indices simplify investments and reduce the risks for investors due to diversification. Thus, we really support the development of this side of Xena Exchange with Bitcoin and GRAM contracts as the first step.”

Anton Kravchenko,
CEO of Xena Exchange


Xena Exchange was founded by previous employees of well-known investment banks and technology companies, including J.P. Morgan, Deutsche Bank, UBS, Russian Stock Exchange, Kaspersky Labs, and others. The Xena Exchange team has significant industry experience,  their combined careers total: 45 years of FICC, equities and derivatives trading; 25 years of risk management; 110 years of software development; and 35 years of finance-related institutional security in both DevOps and cryptography.


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