Panama City, Panama, February 1, 2024, Chainwire
The integration came with a $2 million investment led by Binance Labs.
Bracket Labs, the leader in on-chain volatility trading, announced the integration of its trading product, Passage, with BNB Chain, extending Bracket’s simple, one-click trading platform to the most active trading blockchain in decentralized finance.
Cryptocurrency markets fluctuate periodically, with long periods of sideways trading and short periods of volatility. To take advantage of these conditions, Bracket innovates traditional financial products and offers an entirely new leveraged trading product for volatility that is ideal for both sideways and trending markets.
With a total value pegged at over $3.2 billion and over 1 million daily active users on the BNB chain, Bracket Labs has access to enhanced liquidity for faster trading and improved pricing. With this launch, Bracket Labs further diversifies its platform for traders with access to the low fees of the BNB Chain.
“We’re excited to have innovative, fully on-chain applications, especially as DeFi continues to grow and thrive. Solving volatility or options trading problems is not easy. But the Bracket Labs team worked really hard to distill complex topics into fun, easy-to-use topics. “This is a welcome addition to the BNB Chain ecosystem.” This is Mehmet Buyu, Global Business Development Manager at BNB Chain.
The latest expansion marks the culmination of Binance Labs’ incubation and investment in Bracket Labs. BNB Chain’s debut on the BracketX platform follows the successful completion of a $2 million pre-seed funding round in January 2024. BracketX will integrate the infrastructure of the BNB Chain, including BNB Greenfield, for optimal decentralized storage.
Bracket Labs’ flagship product, Passage, is designed to simplify on-chain volatility trading. The expansion to the BNB chain is consistent with Bracket Labs’ commitment to democratizing financial products and fostering innovation in decentralized finance. Passage offers an entirely new volatility model for all market conditions, allowing traders to explore volatility and trade based on sideways or trending markets without bias regarding price direction.
“We’ve been working closely with Binance Labs and BNB Chain for almost a year to get to this point, and we’re excited to finally get our product out there for the amazing traders across BNB Chain,” said Pelli Wang, Co-Founder and COO of Bracket Labs. “I’m happy,” he said. . “The launch of BNB Chain opens up numerous opportunities due to robust trading volume and liquidity. We look forward to many more partnerships in the future.”
Bracket Labs also expects to expand its derivatives trading products to include assets primarily traded on the BNB chain, such as Pancake (CAKE). Bracket Labs also plans to grow its ecosystem with a focus on international markets by adding partnerships with major wallet providers, DEX, Perpetuals, and Liquid Stake projects.
For more information about BracketX and Passage, visit www.bracketx.fi.
Introduction to Bracket Labs
Bracket Labs’ mission is to democratize financial products and bring on-chain innovation to volatility trading. Headquartered in Panama, the team has deep cryptocurrency and traditional finance background and senior leadership experience from DE Shaw, Merrill Lynch, Barclays, Bloomberg, Consensys, DeerCreek, and others.
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