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Bybit, which was the first cryptocurrency exchange to offer USDC-settled crypto options trading, has announced the expansion of its crypto options offerings with the addition of Ethereum (ETH) and Solana (SOL) options contracts.
The move comes after Bybit debuted its first-in-market USDC-settled Bitcoin (BTC) options contracts earlier this year.
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Bybit’s new SOL and ETH options trading
According to Bybit, the move to add ETH and SOL options trading was driven by popular demand and represents a huge step in developing extra ways for users to level up their trading experience on the exchange.
To celebrate the new options contracts, Bybit is offering a discount of up to 66% in trading fees for 30 days for users who will register before October 4, 2022, 10AM (UTC).
After the launch, Bybit users will be able to trade SOL and ETH options and perpetual contracts through portfolio margin, which uses a risk-based model for market makers and institutional clients.
Margined crypto options settled in USDC
The margined crypto options contracts settled in USDC that are offered on Bybit allow users to settle and trade with more certainty and ease without the need of owning the underlying crypto assets. The options are European-style cash-settled options, which are only executed when the contract expires.
Additionally, users do not have to hedge the underlying collateral exposure when trading the USDC settled options on Bybit since the USDC is pegged to the value of USD, making it not subject to market volatility, which affects a majority of cryptocurrencies.
All the profits are also calculated in USDC, which makes it easier for users to speculate on the future price in USD of an underlying asset and settle their trades in USDC.
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Image and article originally from invezz.com. Read the original article here.