Crypto Exchange Binance Launches Its Own Leveraged Tokens, Offers Users Better Price Swing Accessibility

Crypto exchange Binance lately launched its own leveraged coins. Notably, the development takes place subsequent to elimination of analogous FTX products from the exchange. Interestingly, the leveraged coins offer customers better price swing accessibility.

In a document provided to crypto media outlet Cointelegraph, Binance mentioned,

“Leverage Tokens are a tradable asset that gives users leveraged exposure to the underlying asset without the need of maintaining collaterals, margin maintenance and liquidation risk.”

It is to be noted that each leverage coin represents a collection of perpetual futures positions. Interestingly, the price of the tokens tracks the alterations in notional value of its underlying positions and its level of leverage.

The exchange declared the delisting of FTX leveraged tokens, at the end of March. The exchange mentioned that the products confused its users.

Referring to user demand in the crypto sector for aforementioned products, Binance mentioned,

“So, we are addressing the crucial problems with the existing leveraged tokens in the industry and launching Binance Leveraged Tokens.”