Tether, TON Foundation, and Oobit Create Seamless Crypto-Payment Solution

Tether Operations Limited, the largest company in the digital asset industry, has partnered with Oobit, a mobile payment app, and the TON Foundation to revolutionize the use of cryptocurrencies as a means of payment. This collaboration aims to provide a seamless and convenient way for users to transact with cryptocurrencies.

Reaffirming Tether’s Commitment to a Borderless Financial System

This partnership reiterates Tether’s unwavering commitment to providing a borderless financial system through decentralized technology solutions. In line with this, Tether recently launched USD₮ and XAU₮ on TON to facilitate smooth transfers between users on TON’s ecosystem, enabling a swift, secure, and cost-effective process.

Over $200 Million Worth of USD₮ Issued on TON’s Blockchain

Since its launch, over $200 million worth of USD₮ has been issued on TON’s blockchain. This enables users to send USD₮ as a direct message on Telegram and spend the same USD₮ for instant crypto Tap payments on Oobit. This development further emphasizes Tether’s position as a leader in digital assets, committed to shaping the future of finance.

A New Era of Accessibility, Efficiency, and Convenience

This collaboration ushers in a new era of accessibility, efficiency, and convenience for users worldwide. Oobit offers a convenient and smooth crypto Tap & Pay experience as a strategic part of this collaboration. This integration will further expand the use of cryptocurrency as a means of payment, making it a practical and widely accepted option.

Empowering Individuals to Harness the Full Potential of Digital Assets

TON, a decentralized alternative to the conventional internet through blockchain technology, plays a pivotal role in this collaboration. The TON blockchain works with Telegram, providing a simple, borderless experience for Telegram’s user base for peer-to-peer (P2P) payments. This integration offers convenient access to decentralized services, enhancing the overall user experience.

Driving Mass Adoption Globally

With the overarching goal of expanding USD₮ accessibility globally and facilitating smooth value transfer within TON’s ecosystem, alongside providing a seamless crypto Tap & Pay experience with Oobit, Tether continues to lead the charge in transforming the cryptocurrency landscape and disrupting the traditional financial system.

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dYdX Introduces Isolated Markets and Isolated Margins

dYdX, the decentralized trading platform, is set to launch Isolated Markets and Isolated Margins. This upgrade is part of the upcoming Release 5.0 of dYdX Trading’s v4 open-source software suite and is anticipated to take effect in the next few weeks.

Benefits of Isolated Markets

Isolated Markets, unlike the current cross-margined markets, have segregated collateral pools and their own insurance fund. This arrangement allows each market to have its distinct risk properties, enabling the protocol to safely support a broader range of market types.

The introduction of isolated markets will significantly expand the number of markets available on dYdX. The new market widget, which sources markets from v4-web, currently lists approximately 20 markets. With the advent of isolated markets, this figure is expected to soar to over 800 potential markets.

Expanded Market Universe

The markets that can be listed via the new market widget will include those available on at least two centralized exchanges or at least one decentralized exchange, subject to specific liquidity and market-cap guidelines. The methodology for the new market widget universe will be open-sourced at docs.dydx.exchange.

This release will also see the first-time querying of prices directly from decentralized exchanges on dYdX Chain. The initial protocol validators will be able to query from is Raydium, resulting in Raydium markets being available for listing on dYdX.

Role of Isolated Margin

Isolated Margin makes trading easier for traders by allowing them to trade any market as an isolated position. They can confine collateral to a specific position and manually adjust their collateral for that given position. This flexibility enables users to have more control and understanding of their collateral management.

While all isolated markets will need to be traded with isolated margin, markets that are cross-margined on the protocol can either be traded with user cross or isolated margins via the UI.

Adding New Markets

The process of adding new markets will remain the same as it is today, through governance. Eventually, adding new markets to dYdX Chain will be fully permissionless, enabling markets to be listed instantly without any governance process.

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In a significant move for crypto traders, Binance Futures has announced the launch of its new Funding Rate Arbitrage Bot. The bot, aimed at facilitating more efficient trading, is available on the Binance website, with app availability expected in June.

Special Promotion with USDT Prize Pool

To celebrate the bot’s launch, Binance Futures is running a special promotion. Eligible users can partake in a share of a 50,000 USDT prize pool. The promotion period runs from 2024-05-15 11:30:00 (UTC) to 2024-05-29 11:30:00 (UTC).

There are two promotional offers in place. In Promotion A, eligible users who set up their first arbitrage bot and maintain it for 72 hours during the promotion period can earn 10 USDT per user from a 30,000 USDT prize pool. This offer operates on a first-come, first-served basis.

In Promotion B, new users who have never traded on Binance Futures prior to the promotion period can receive an additional 10 USDT token voucher after participating in Promotion A, again on a first-come, first-served basis.

How the Funding Rate Arbitrage Bot Works

The Funding Rate Arbitrage Bot utilizes funding fees – periodic payments exchanged between long and short positions in perpetual futures contracts. The bot aims to allow traders to earn these fees by opening a position on perpetual futures and hedging it by taking an opposite position on the same symbol in the spot market.

There are two types of strategies: Positive Carry, where the bot buys assets on the spot market and shorts the corresponding perpetual futures contract, and Reverse Carry, where the bot sells assets on the spot market and goes long on perpetual contracts.

How to Participate

Participation involves three steps. Firstly, users must log in to their Binance Futures account. Secondly, they must register for the activity by clicking on ‘Register Now’ on the activity page. Finally, users must set up their Arbitrage Bot Strategy and let it run for at least 72 hours.

Terms and Conditions

There are several terms and conditions attached to the promotion. Notably, all vouchers will be distributed within 14 working days after the conclusion of the campaign. The validity period for all vouchers is 14 days after distribution. The campaign is only available to users who are eligible for trading on Binance Futures and may be restricted in certain jurisdictions or regions, depending on legal and regulatory requirements.

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