Lamda is launching the most efficient perpetual swaps exchange on #Monad. Our platform will offer up to 100x leverage and allow users to trade USD based pairs with $MON as collateral.
For example, you'll be able to enter a long or short position on the ETH/USD pair without holding either ETH or USD. Profits and losses will be settled in $MON.
Learn more about our quanto contracts in our docs: https://t.co/WUClZiQoi7
We're excited to build and launch on Monad's testnet soon. Stay tuned! π
"So, what the hell is a Quanto?" π€
Inspired by the famous Nikkei 225 index that's traded on the CME and BitMEX's quantos, are contracts which are denominated in a different asset than they are settled in.
With Lamda, you can choose #Monad (MON) as collateral for your trades.
If a BTC/USD long is opened using MON as collateral, and there's a correlated move upwards of both $MON BTC, the "USD" gains of the position will be amplified. Longs are "longer". Shorts are "shorter". It is very easy to get liquidated in a market wide move against you.