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Open Network's TON Goes Live On BIT And Paradigm

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Open Network's TON Goes Live On BIT And Paradigm


By Cryptowisser

4 months ago
3 mins read
Open Network's TON Goes Live On BIT And Paradigm

The Open Network (Toncoin) team announced on Thursday, January 26th, that its native token, TON, has been listed on the BIT exchange and Paradigm, the institutional liquidity network for derivatives traders.

Crypto’s Options Market Expands With TON

The cryptocurrency options trading market has been dominated by Bitcoin (BTC) and Ether (ETH) over the past few years. However, with the entry of TON, the native token of the Toncoin blockchain, the market is set to expand.

In a press release shared with Cryptowisser today, Open Network announced that TON options trading has gone live on the leading Bitcoin options and futures exchange BIT today and will be available on Paradigm, the institutional liquidity network for derivatives traders, at a later stage.

The team pointed out that the addition of TON to crypto options trading was made possible by a partnership with the pioneering liquidity provider Darley Technologies and blockchain industry market maker DWF Labs, a key backer of the TON ecosystem.

Options are a type of derivative contract that gives its buyer the right, but not the obligation, to buy or sell an underlying asset at a set price on or before its expiration date.

According to the team, the Open Network (TON) is a revolutionary technology to unite all blockchains and the Web2 internet into a single, open network. The technology was developed to empower billions of Telegram users with genuine Web3.

With the addition of TON options trading on BIT and, soon, Paradigm, TON is set to become among the most actively traded digital tokens in the burgeoning crypto options market.

While commenting on this latest development, BIT Co-founder and COO Lan said;

“We are thrilled to be working with Darley Technologies and DWF to offer TON options. With the advent of dollar-margined products and the addition of various altcoin options, the options market has enormous growth potential. BIT and our trusted partners are devoted to increasing the accessibility of crypto options for both institutional and retail traders.”

Crypto Options Trading Continue To Gain Adoption

Cryptocurrency options trading is one of the fastest-growing areas of the crypto market. The space is expected to record huge growth over the coming years. This is because, in the traditional financial markets, the options trading market is 35 times bigger than the spot market. However,  in crypto, options trading only accounts for 2% of all trading activity. This leaves room for growth in the coming years.

The Open Network added that Darley Technologies and DWF Labs have been instrumental in enabling TON options trading on both BIT and Paradigm.

Clément Florentin, CEO & Co-founder of Darley Technologies stated that;

“Through cutting-edge technology, innovation and an entrepreneurial spirit, Darley Technologies has the vocation to democratize options. Offering market-making services on the unique alt-coins options market is a new milestone for us. In addition, this new project, in collaboration with BIT, TON Foundation and DWF Labs, epitomizes the growing trust and synergies with our long-standing partners.”

Andrei Grachev, Managing Partner at DWF Labs added that;

“With a global community growing at a speed of more than 2% weekly, as well as more than 100 million transactions to date, the TON ecosystem is one of the most promising on the market. Joining the options market is a logical and important step for TON because, until now, the only coins available there were BTC and ETH. It means TON will take its place alongside crypto’s most prestigious coins. We invested $10 million in the TON Foundation last year, and we have pledged - and already started deploying capital - to support 50 projects in 2023.”

BIT is a full-featured cryptocurrency exchange that is designed for use by professionals, with advanced risk management and fund efficiency supported by Portfolio Margin and Unified Margin.


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