We’re thrilled to announce that Kraken now supports new margin pairs for Optimism (OP), Synthetic (SNX), Injective (INJ) and Celestia (TIA)!
Margin trading is now available for the below pairs for OP, SNX and TIA:
Here’s what you need to know about the assets:
Optimism (OP) is a Layer 2 scaling solution implemented on the Ethereum network. It employs a technology known as optimistic rollups to aggregate multiple transactions, thereby alleviating congestion and lowering transaction fees on the Ethereum mainnet. OP is Optimism’s native governance token, which allows OP token holders to participate in decisions regarding the protocol’s future direction, upgrades and parameters.
Synthetic (SNX) offers an alternative way to invest in fiat currencies, cryptocurrencies and commodities through crypto derivatives. Synthetix is a decentralized protocol built on Ethereum that allows users to gain exposure to assets without actually holding or taking custody of the underlying resource. These synthetic assets (Synths) are backed by the platform’s cryptocurrency, Synthetix Network Token (SNX), which can be staked as collateral in order to generate rewards.
Injective (INJ) is a decentralized exchange (DEX) that offers various features such as cross-chain margin trading, derivatives and forex futures trading. Built on the Cosmos blockchain a Layer 2 application, Injective uses bridges to offer cross-chain capabilities for traders to trade across other networks. The exchange is operated by the INJ token, Injective’s native cryptocurrency, which is used by makers and takers to pay for transaction fees on its network.
Celestia (TIA) is a modular blockchain network focusing on scalable data availability for blockchains. By separating transaction ordering from network consensus, Celestia helps to address the data availability challenges many blockchains face while scaling. TIA is the native token used for data transactions, network security via proof-of-stake, and enabling decentralized governance within the ecosystem.
Before you start, what you should know:
Ready to start ⤵️
Will Kraken offer more pairs on margin?
Yes! But our policy is to never reveal any details before launch – not even which pairs we are considering. All of Kraken’s listed margin pairs are available on our website. Our client engagement specialists cannot answer any questions about which pairs we may be listing in the future.
Trade with caution
There is no guarantee that a limit order will execute. There is no guarantee of margin pool availability at all times. There is also no guarantee of a market order executing at a certain price. The availability and liquidity of the particular digital asset will impact these types of orders.
Offering margin trading on an asset or token is not a recommendation to buy, sell or participate in the associated network. Do your own research and invest at your own risk.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
Source: https://blog.kraken.com/product/expanded-margin-pairs-available-for-inj-op-snx-and-tia
