BabyDogeSwap will soon support futures contracts with up to 100x leverage for investors.
Fast-growing decentralized exchange (DEX) BabyDogeSwap recently announced that it is looking to enable support for perpetual contracts with leverage of up to 100x for its customers. The project noted that the support would be enabled in its launch of the BabyDogeSwap Pro platform.
Baby Doge disclosed the development through its official Twitter handle today. “Coming soon: BabyDogeSwap PRO.
Perpetuals up To 100x leverage,” the project revealed in a tweet, sharing an informative art to depict its message. According to Baby Doge, the futures contract support will be powered by ApolloX, a decentralized derivatives exchange.
Perpetuals up To 100x leverage 🔥
— BabyDogeSwap.com LIVE (@BabyDogeCoin) November 29, 2022
The launch of the perpetual contracts is expected to occur on Friday, as further disclosed in a separate tweet within the thread. The disclosure has been received well within the Baby Doge community, as exposure to perpetual contracts on the BabyDogeSwap platform breeds excitement amongst proponents.
Following its launch on October 6, the BabyDogeSwap platform appears to be constantly thirsty for further improvements. Its inclusion of perpetual contracts is only one of the several developments pumped into the DEX despite being barely two months old.
The platform included support for farm rewards a few hours following its launch. The support would allow projects to develop staking farms and pools on the BabyDogeSwap exchange. The announcement caught the attention of the crypto space, as several entities, such as Chirpley and Muu Inu, launched their farms on the platform days after.
Furthermore, yesterday, Baby Doge mentioned the launch of the upcoming monthly burn initiative that would occur on the BabyDogeSwap exchange on December 1. The team announced the burn date last week, as previously reported by The Crypto Basic. The burn event is expected to incinerate up to one quadrillion tokens worth an estimated $1M.
Burn incoming December 1st
3 days away 🔥 pic.twitter.com/ASDVZcZpA0
— BabyDogeSwap.com LIVE (@BabyDogeCoin) November 28, 2022
On November 8, The Crypto Basic highlighted the magnitude of the total burns the team has engaged in, as it persists in its campaign to reduce the asset’s supply. Total burns then had reached 199.2 quadrillion Baby Doge tokens, representing 47.4% of the asset’s total supply.