New Listings: HIFI, TURBO, TIP, FTT, and M-BABYDOGE USDT-Margined Perpetual Futures
We are excited to announce that we have listed HIFI (Hifi Finance), TURBO (Turbo), TIP (Tipcoin), FTT (FTX Token), and M-BABYDOGE (1 million BabyDoge). You can now trade these newly-added USDT-margined perpetual futures contracts on our app and web platforms.
Below is a table showing the contract specifications of the newly listed USDT trading pairs.
What is HIFI (Hifi Finance)?
Hifi Finance is a fixed-rate, fixed-term lending protocol built on the Ethereum blockchain. The protocol operates through decentralized interest rate markets that mature on specific dates. Using an Automated Market Maker (AMM) model, Hifi markets rely on liquidity pools where users contribute tokens, and an algorithm determines the interest rate based on supply and demand dynamics. Users can actively participate in any active market by supplying liquidity, borrowing, or lending. Borrowers benefit from fixed interest rates without the need to negotiate terms such as maturity, interest rates, or collateral. Through supplying tokens to liquidity pools, users not only earn rewards but also enable peer-to-peer lending and borrowing opportunities.
As the native cryptocurrency of Hifi Finance, HIFI tokens serve multiple purposes in the ecosystem. Holders can participate in governance, proposing and voting on protocol changes. They can delegate voting power to trusted addresses. Staking HIFI tokens allows holders to earn rewards, and providing liquidity in HIFI pools generates transaction fee shares. The tokens may grant access to exclusive features and services. The specific utility and uses of HIFI tokens may evolve over time. Refer to official Hifi Finance documentation for up-to-date information on HIFI token functionality.
As of October 16, 2023, HIFI is ranked 339th on CoinMarketCap, with a market capitalization of over $56 million.
What is TURBO (Turbo)?
Launched in 2022, Turbo is a Ethereum-based ERC-20 memecoin that is created completely using AI. With a modest budget of $69 and access to the revolutionary GPT-4, the project’s founder challenged himself to create the next viral meme coin, meticulously documenting the process.
TURBO stands out amongst other memecoins with these features:
- Fair Distribution: TURBO ensured a fair launch, preventing any individual or group from holding a majority of tokens. This fosters greater decentralization compared to other meme coins.
- Tax-Free Transactions: TURBO enables tax-free transactions, eliminating fees when buying, selling, or trading TURBO tokens. This appeals to investors seeking tax efficiency.
- Community-Driven: TURBO operates as a community-driven project, allowing the community to make decisions regarding its future. This democratic structure distinguishes TURBO from other meme coins.
As of October 16, 2023, TURBO is ranked 874th on CoinMarketCap, with a market capitalization of over $5.9 million.
What is TIP (Tipcoin)?
Tipcoin is an innovative cryptocurrency project poised to revolutionize social interaction, particularly on platforms like Twitter/X. It introduces a unique points system where users can earn points by mentioning @tipcoineth and $tip in their tweets. The rewards are based on factors like tweet views, likes, replies, retweets, and quotes. These points can then be exchanged for Tipcoins, which are directly deposited into the participants’ wallets. Like other SocialFi initiatives such as Friend Room and Friend.tech, Tipcoin offers a simple and engaging experience, akin to a game, where individuals can leverage their social media influence to accumulate tokens and potentially generate substantial profits.
As of October 16, 2023, TIP is ranked 2151 on CoinMarketCap.
What is FTT (FTX Token)?
FTT is the native token for the FTX exchange. It was privately launched on July 27, 2019, with an initial supply of 350,000,000 tokens. Users with FTT holdings benefit from a tiered scheme, earning trading fee savings, OTC refunds, as well as various other discounts and staking rewards on the FTX platform. To enhance scarcity, FTX commits to repurchasing and burning tokens until half of the total supply is depleted. Token burns occur through 33% of all collected fees, 10% of net insurance fund additions, and 5% of fees from other platform usages. This strategic approach aims to create a deflationary mechanism for FTT, increasing its value over time.
As of October 16, 2023, FTT is ranked 219th on CoinMarketCap, with a market capitalization of over $352 million.
What is BABYDOGE (BabyDoge)?
BabyDoge is a cryptocurrency on the Binance Smart Chain that emerged as a spin-off from the popular memecoin, Dogecoin. It gained significant attention for its adorable branding and quickly developed a passionate community of supporters. It follows a deflationary tokenomics model, with a portion of each transaction burned to reduce supply. The project is dedicated to charitable initiatives, particularly animal welfare. BabyDoge has explored integration with NFTs and has formed partnerships with wallets and exchanges to enhance accessibility and liquidity. However, it’s important to remember that the cryptocurrency market is volatile, and caution should be exercised when investing in BabyDoge or any other digital asset. Like Dogecoin, BabyDoge also experienced a significant spike in price after being mentioned by Elon Musk on Twitter/X.
As of October 16, 2023, BABYDOGE is ranked 232 on CoinMarketCap, with a market capitalization of over $148 million.
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