Backpack Exchange has officially launched its closed-beta prediction markets, marking a significant expansion of its offerings beyond traditional spot and perpetual futures trading. This new feature allows users to speculate on future events directly through the exchange’s platform, signaling the exchange’s ambition to become a comprehensive decentralized finance hub.
The key differentiator of this prediction market launch is the integration of a cross-margin feature. This advanced capability allows traders to use their pooled collateral across both prediction contracts and existing perpetual or spot positions on the exchange. The cross-margin functionality aims to enhance capital efficiency and provide advanced risk management tools necessary for sophisticated trading strategies.
Currently operating in a closed-beta environment, the launch targets a select group of users, ensuring system stability and refinement before a wider public rollout. This move firmly establishes Backpack as a competitive platform catering to both standard trading needs and complex derivative speculation within the Solana ecosystem.
Source: Backpack launches closed-beta prediction markets with cross-margin feature
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