Fulcrom Finance, a decentralized perpetual exchange, has announced that it will now support XRP trading, offering leveraged positions of up to 75x, according to a Monday tweet from the company.
The trading platform has garnered attention for its unique approach to the cryptocurrency market, storing all trades and collateral on-chain for maximum transparency and minimal price impact. The inclusion of XRP into its trading pairs enhances the diversity of assets available for trading on the platform.
In addition to offering leveraged XRP trades, Fulcrom Finance has included XRP in its Fulcrom Liquidity Pool (FLP), a multi-asset pool that earns fees from automated market making, swap fees and leverage trading.
The exchange touts a minimal fee for swapping XRP within the liquidity pool. This inclusion is expected to boost the XRP ecosystem since it brings additional utility and a potential increase in liquidity for the coin.XRP's addition to Fulcrom is part of a broader roadmap that the exchange has laid out for its platform. In the first quarter, it introduced a beta launch and perpetual trading of up to 25x while incentivizing users to stake and vest.
The second quarter has seen the introduction of advanced trading and a competitive leveraged position of up to 75x, while future quarters promise more trading pairs and the introduction of a referral program.
Fulcrom Finance's philosophy of decentralization and transparency is reflected in its strategy. The platform relies on various price feeds from large exchanges as well as on-chain prices to prevent manipulation and ensure accurate pricing.
FLP, the native liquidity token of Fulcrom, acts as the counterparty of all trades and earns a substantial proportion of protocol revenue compared to FUL.