Opium protocol unleashes ‘Turbo ETH’ leveraging By BTC Peers



Opium protocol unleashes ‘Turbo ETH’ leveraging
Opium protocol unleashes ‘Turbo ETH’ leveraging

Opium Network, a decentralized finance (DeFi) protocol has launched a new way for users to increase returns on via highly leverage exposure.

The new product called “Turbo ETH” targets crypto investors who are seeking to earn more from their DeFi investments. The Opium team announced in an official Medium post that investors could now purchase a short expiry position that offers a “highly leverage exposure to the underlying asset.”

You buy Turbo for the fixed price, and if the underlying asset goes above [the] specified strike price, you’ll have an upside — you’ll earn a high return within a short period, usually a day. Turbos offer a chance of a high return, but you can also lose limited funds in a short time.

On the flip side of the so-called mouth-watering offer is the potential for things to turn sour quickly. Leveraged derivatives are only great when prices are going up. However, the product from Opium only involves losses of the ‘Turbo’ itself and not Ethereum. Put differently, users will only lose the cost of the Turbo if things go south.

The protocol also unveiled a new liquidity pool that covers the ecosystem’s products. Customers stake Ethereum into the pool to cover mining Turbo mining fees. In return, they receive a share of the network’s transaction fees.

Continue reading on BTC Peers

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read More

Paul Wekem

Paul Wekem

Paul Wekem Ghanaian security specialist is well versed in managing and directing the implementation of security standards and policies including total integrated security solutions to optimize controls. He is proficient in the establishment and development of external relationships with stakeholders, negotiating and influencing at all levels

Related Posts

No Content Available

Welcome Back!

Login to your account below

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.

Retrieve your password

Please enter your username or email address to reset your password.