Announcing the GlobeDX
GlobeDX is a crypto derivatives exchange built by Y Combinator Alumni, and was once dubbed as the “Coinbase for derivatives” Globe shares not just their depth of vision, but also their first wave of backers. GlobeDX has amassed one of the most impressive backers lists in the crypto space, and its launch will allow SUPER and PAID holders to join with some of the most coveted VCs in the world, including Tim Draper’s Draper Dragon and Pantera Capital.
Why GlobeDX is Special
What Coinbase is for spot trading, GlobeDX is for crypto derivatives. Its exchange enables anyone to trade futures products on a high-performance platform that’s been designed to meet the needs of institutional users. This means a best-in-class trading engine with ultra-low latency and high throughput.
By empowering its users to capitalize on market movements the second they occur, Globe gives traders the edge they need to consistently profit. For retail users, Globe provides a framework that is normally off-limits to this section of the market, packed into a user-friendly interface that opens derivatives trading to a global audience.
Founded by James West and Shaun Ng, two experienced technologists and traders with PhDs to their name, Globe raised $150K in March 2019 in a Series A round. This was followed in November with a $3M raise that attracted the likes of Y Combinator, Pantera Capital, and Timothy C. Draper.
GlobeDX Solves Problems
Globe has been designed to overcome a number of key problems that are inherent to existing crypto derivatives exchanges:
- Lack of innovation. Globe is the first venue to offer bitcoin VIX futures and one of the first to introduce DeFi perpetuals.
- Difficult to use.
- Prone to suffering service degradation during peak times, disadvantaging traders.
- Suboptimal custody with a lack of proper institutional protections.
- Lack of serious API support.
On GlobeDX, institutions and consumers can transact digital currencies like bitcoin via perpetual future contracts. Perpetual futures are a derivative product that tracks underlying index price. They’re high in demand as they enable hedging and risk management — short exposure and trading with leverage.
Globe introduces new types of crypto future, bringing under one roof fragmented existing perpetuals which can be signed up for in seconds. Order books that can deliver and withstand orders of magnitude during greater market stress than previous generation exchanges. GlobeDX also offers insured cold storage, easy to use websocket API with sample clients, and has no internal trading desk.
Globe remains the only low latency, institutional-grade crypto derivatives exchange open to the public, delivering 3-microsecond latencies and extreme throughput and performance during major market moves. Moreover, Globe’s open-access data and Globe Research helps level the playing field data-wise between traders and institutionals.
The $GDT Token
The native GolbeDx token — GDT has been created with the aim of supporting the long-term safety and integrity of Globe’s markets, and improving growth, and bringing a more refined and enjoyable experience for the end-user.
The GDT token performs a number of core functions on the Globe platform including:
- Discount on trading fees of 5–20% depending on the amount of GDT held.
- Staking to earn a Globe Rewards boost including raffle entry to win XBT every fortnight.
- Margin against trading pairs on Globe’s exchange, providing greater collateral for increased position size.
- Weekly buyback and burn until 50% of GDT supply has been removed from circulation.
- For applications to be considered valid, all applications must adhere to the SUPER PAID WHITELIST RULES, must pass the KYC process, and adhere to each project’s specific KYC requirements and country restrictions which varies per project on a case to case basis. For a list of Globe specific restricted KYC countries check HERE.
Globe is a crypto derivatives exchange where institutions and consumers transact digital currencies like bitcoin via perpetual futures contracts. Perpetual futures are a derivative product that tracks the underlying index price. They’re in high demand as they enable hedging and risk management, short exposure and trading with leverage.