Opium protocol unleashes ‘Turbo ETH’ leveraging By BTC Peers

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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.

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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

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