WOO X Introduces Prelaunch Perpetual Futures Market for Upcoming Tokens

WOO X Launches Innovative Prelaunch Perpetual Futures Market

WOO X, a cutting-edge crypto futures platform, has announced the launch of a prelaunch perpetual futures market that allows traders to speculate on the prices of tokens that have not yet been issued. This initiative was confirmed by a representative of the platform in a statement to CoinDesk on Wednesday. Such prelaunch markets can provide traders with unique opportunities for price discovery and effective hedging strategies well in advance of official token launches.

The selection process for individual projects seeking to be listed in this premarket environment will involve thorough vetting based on several criteria. These criteria include a comprehensive due diligence process, the anticipated timeline for listing, the overall quality of the project, and the expected liquidity of the token once it is officially available. WOO X emphasized that these measures are essential for ensuring a reliable trading environment.

Importantly, once a token officially launches and is listed on major exchanges, the prelaunch perpetual futures contract will automatically convert into a standard perpetual futures contract, streamlining the trading experience for users. In this inaugural offering, the ORDER token from Orderly Network, a notable on-chain liquidity provider, is being introduced as the first asset available for trading in this innovative market. However, prices for the ORDER token have seen a decline of 5% since its listing at 08:00 UTC.

In contrast, the native tokens of the WOO protocol have experienced a positive trend, with a rise of 4.5% in the past 24 hours. This performance outpaces the broader market, as evidenced by the 2.5% increase observed in the CoinDesk 20 index.