By Tobi Loba
The ongoing festive atmosphere is bringing growth and development into the Vergecurrency ecosystem as it was recently announced that the v6 hardfork has been successfully achieved, coupled with the launch of Verge perpetual futures contracts.
This new development was passed across via the official Twitter handle of the cryptographic project Vergecurrency on 25th December 2019. It also added that the previous v4 and v5 have been properly integrated into it as expected.
The Tweet reads thus, “Our v6 hardfork was a success! v4 and v5 have assimilated to it as well.”
Verge Perpetual Futures Contracts launched
In another development, the Blockchain Board of Derivatives (BBOD), one of the leaders in offering altcoins futures trading has some hours ago announced the launch of the world’s first Vergecurrency (XVG) perpetual futures quoted and settled in TUSD.
According to the report, the new derivative contract is now enabled for trading at BBOD with about 25 times leverage.
Justin Sunerok invented Verge (XVG) in 2014, with a brand name DogeCoinDark. Verge (XVG) is a proof-of-work (PoW) digital currency designed to be fast, secure and untraceable.
The privacy of Verge (XVG) is made possible using series of network protections between the users and blockchain powering the cryptocurrency.
Payments are made possible by Verge blockchain through Tor network that is capable of securing the privacy of users’ activities on the network.
The Verge-TUSD perpetual futures contract launched by BBOD will give room for users to long or short on cryptocurrency with leverage.
This also helps Verge network participants to manage risk and express sentiment more effectively. And it reportedly has no expiry dates.
The report also added that the newly launched contract is a perfect instrument for Verge miners to improve their mining revenue in the midst of the uncertainty of mining cost-effectiveness.
The marketing strategist at Vergecurrency, Lohann Doucefrance shared that the new development is a good example of instances where Verge (XVG) showcases itself as a disruptive and valuable digital currency among others.
Lohann said, “This is a great example of how Verge is proving itself to be one of the most disruptive and useful cryptocurrencies in the world”
On the other hand, the CEO at the Blockchain Board of Derivatives (BBOD), Jacob Ruczynski also acknowledged the benefit of the newly launched Verge futures contract.
He said, “We are pleased to be expanding our cryptocurrency derivatives offering with the launch of Verge futures…”
He furthered that long-term investors are now liable to sell Verge futures once they perceive unfavorable high volatility of XVG in the market.
“…Long-term investors may now effectively hedge value of their Verge coins ahead of high volatility events. They can sell Verge futures if they think that the price will temporarily go down without a need to sell the Verge coin on the cash market…”
Conclusively, Ruczynski believes that the XVG-TUSD perpetual futures market will notably improve price transparency.