CoinFLEX To Offer "Futures" Derivatives Trading to Bet on Libra's Launch

CoinFLEX To Offer "Futures" Derivatives Trading to Bet on Libra's Launch

It is only reasonable for speculators to bet back and forth about the proposed digital currency of Facebook, Libra — and now they actually can.

According to Bloomberg, CoinFLEX, a Seychelles-based exchange known to offer "future" derivatives trading on yet to be launched tokens, now lets traders gamble on whether Libra will meet the expected deadline of Q4 2020.

Since the day of its introduction, Libra has faced significant challenges with regulators, policymakers and analysts expressing concerns about its effect on financial stability and the "monetary sovereignty of governments.

But if you think that Libra has a nonzero chance to be successful, you can go to CoinFLEX. So it works like this: investors buy futures at the percentage chance they give Libra of running entirely out of late 2020. The Libra stablecoin is believed to be worth $1, which means you'll pay $0.80 if you feel Libra has an 80 per cent chance, and win a whole token if you're right; that's a $0.20 gain.

Nevertheless, the winnings are in tokens from Libra ("physically delivered"), so you can win only if the project comes to fruition. When Libra goes to bust, you're going to get jack shit.

So what are Libra's chances of meeting the deadline?

Geopolitically, there are a few obstacles surrounding Facebook. France threatened to ban the initiative from the shores of the EU altogether. (Today the union itself sent a questionnaire to Libra's supervisors.) U.S. lawmakers want to do the same. It does seem that a significant portion of Facebook's own users don't trust the project.

Divisions among Libra's partners also seem to be opening up internally. Payments service PayPal has dropped out, one of the early supporters of the campaign. Others including Mastercard and VISA seem to be increasingly reluctant.

But some signs of life do exist. As reported last week, the Libra platform's developers continue to iterate on it and make positive remarks about its functionality.

I used to research different Blockchains (not only ETH, bus also Neo, Ontology, EOS, Tron, etc.). Libra Blockchain took the best from all of them, actually, that’s why I’m paying so much attention on it. I know about regulatory backlash, but I believe that such blockchain networks as Libra are the future, and it’s inevitable.
— Roman Samchuk, DappIncome

Regardless, wherever there is a challenge, there is s an opportunity—and speculators will be willing to bet on it.






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