Arkham ventures into the cryptocurrency trading market, set to launch a perpetual contract exchange.
Arkham Research, known for its on-chain data tool Arkham Intelligence, announced that it will launch a perpetual contract exchange starting next week, marking its first direct foray into the cryptocurrency trading market.
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Arkham to Launch Perpetual Contract Exchange
According to their promotional video, the exchange will offer real-time on-chain auditing, verifiable reserve proof, and support for spot/perpetual contract trading pairs. It can also be used with the company's dashboard and offers functions for research, tracking transactions, and marking wallets.
The exchange is expected to go live next Wednesday, but potential users must register before joining. The product will not be available in certain jurisdictions such as the United States.
What are Perpetual Contracts (Perps)?
Perpetual contracts, or Perps for short, are a type of derivative contract pioneered in the crypto space that has no expiration date. Traders often use them to increase leverage or for hedging purposes.
Unlike traditional futures contracts that have fixed expiration dates, perpetual contracts use a "funding rate" for indefinite renewal. This means that based on market conditions, traders holding long or short positions regularly pay fees to maintain the balance between the contract price and the underlying asset spot price.
Arkham's Previous Launch of Intel Exchange Sparks Controversy
According to a report by The Block, crypto startup Arkham has raised at least $12 million from investors, including billionaire investor Peter Thiel and OpenAI CEO Sam Altman.
The launch of Arkham Intel Exchange in July last year sparked controversy, as it was accused of being a place that only superficially trades information value while actually providing a platform for whistleblowing services. It was described by the community as "Dox to earn" and "Snitching-as-a-service," contradicting the notion of blockchain anonymity.
Arkham Controversy | User referral code emails exposed, intelligence trading market encourages doxxing?
Nevertheless, Arkham Intelligence remains a recognized high-quality blockchain data analytics platform, providing real-time, accurate, and efficient blockchain data monitoring and analysis.
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