The CoinFLEX cryptocurrency derivatives exchange will launch futures contracts (in fact, rates) on the probability of the Libra cryptocurrency launch by the end of 2020 by the end of the month.
The exchange plans to open futures trading (IFO) on Libra on October 24, according to
Bloomberg. Futures will allow traders to bet on whether Libra will be launched before December 30, 2020.
Based on their positions, traders will either receive Libra tokens or lose all their initial investments if the cryptocurrency is not launched by December next year.
The initial price of futures for Libra will be set at $ 0.3, said CoinFLEX CEO Mark Lamb in a publication. He added that this price is set with the calculation of a 30% probability that Libra will function until the end of next year.
This is not the first IFO CoinFLEX for a not yet issued token. In July, the exchange launched an IFO for the Polkadot project. CoinFLEX also offers futures contracts subject to physical settlement on BTC, BCH and ETH. Recall also that in February CoinFLEX began
trading cryptocurrency futures in the Asian market.