Press release
PRESS RELEASE. Victoria, Seychelles, March 20, 2023 – Bitget, the largest crypto copy trading platform, has announced the upcoming IPOR listing on its Spot Market Innovation Zone. Digital asset escrow services will be available at 7 am on March 22, 2023 (UTC)and trading will start at 12 pm (UTC) on the same day.
The IPOR protocol is a decentralized interest rate derivatives exchange that uses the Inter-Protocol Overlock Rate (IPOR) index. It offers non-custodial on-chain interest rate swaps via the IPOR Index, IPOR AMM, liquidity pools, and asset management smart contracts. The protocol aims to bridge the gap between DeFi and TradFi by providing risk management tools, including derivatives and interest rate indices, for emerging DeFi credit markets. This improves stability and makes fixed income investments more attractive to traditional financial players.
The vast experience of the IPOR team, with members having been in the crypto industry since 2011, gives it significant advantages. It includes three PhDs, quants with 20+ years of fixed income experience, enterprise software developers with 15+ years of experience, and Cardano advisors and founder of 1 inch. The interest rate derivatives market in TradFi is huge, between 450 and 600 trillion notional, but still untapped in DeFi. The IPOR protocol ranks as the Top 5 derivative platform on TVL, with over $40 million, and Top 2 on Ethereum.
Gracy Chen, CEO of Bitgetsays: “As a leading crypto futures and copy trading exchange, expanding product offerings is our main strategy this year. Even in the bear market, we are happy to support more promising projects in our fast-growing spot trading market, and we believe that the unique features of IPOR will appeal to DeFi and TradFi players, bringing DeFi to a broader audience.”
According to Coingecko, Bitget’s 24-hour trading volume is around $845 million, ranking 10th among all spot exchanges. The platform now supports more than 460 currencies with 529 trading pairs.
About Bitget
bitget, established in 2018, is the world’s leading cryptocurrency exchange with futures trading and copy trading services as its key features. The exchange, which serves more than 8 million users in more than 100 countries and regions, is committed to helping users trade smarter by providing a secure and unique trading solution. It also inspires people to adopt cryptocurrency through collaborations with credible partners, including legendary Argentine soccer player Lionel Messi, Italy’s top soccer team Juventus, and official esports event organizer PGL. According to Coingecko, Bitget is currently one of the top 5 futures trading platforms and one of the top 10 spot trading platforms.
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