LADYS Options on BIT Exchange paves new retail trading highway for meme coins
The options trading market gets another boost thanks to yet another collaboration between the cryptocurrency derivatives exchange BIT and the duo of Darley Technologies and DWF Labs.
Just recently, BIT rolled out options tied to Cardano's ADA token in collaboration with strategic partner Darley Technologies and market maker DWF Labs. Today, LADYS Options marks a significant milestone in the industry as the world's first Meme-coin Options brought to the market for both institutional and retail traders.
Options might be seen as an intimidating instrument for new traders or existing spot traders. This type of derivative gives the trader the right to buy or sell an underlying asset at a certain price on or before a specific date. The core functionalities of options are binary: the right to buy the asset is a call option, and the right to sell it is a put option.
"Our intention is to simplify access to options trading for all traders, providing an interface that is simple to understand and instruments that are in line with what communities are passionate about. Meme-coins are an excellent way to engage people to learn options trading" said Andrei Grachev, the Managing Partner of DWF Labs.
"We are proud to announce the listing of LADYS options as the world's first meme-coin options, made possible through the support of our esteemed partners, Darley Technologies and DWF Labs." Said Justin Buitendan, the Global Head of Institutional Sales of BIT, "Meme coins have experienced rapid growth, and we are thrilled to provide our clients with an additional avenue to enhance their trading strategies. LADYS options mark the starting point of an exciting journey, and there are more exciting opportunities on the horizon."
The incredible popularity of the LADYS token, as well as the sudden sprout of related projects, made it the perfect candidate for the first Meme-coin Option to be traded, thanks to the alliance between BIT, DWF Labs, and Darley Technologies.