Shrimpy Announces Futures Trading, New Exchange Integrations, and DeFi Venture

Shrimpy Futures Trading

  • A futures portfolio monitoring option that marks the first rollout stage was enforced on March 30th, 2021. Here, Shrimpy can view the futures trades and balances a user is making in an exchange. After that, the platform posts the trader’s performances similar to what is done in a spot trading scenario. Futures portfolio monitoring is available on Binance exchange at the moment, and traders will not be able to conduct any trades in the futures market during the first stage.
  • The second stage will allow manual futures trading on Shrimpy’s trading dashboard. It is projected to launch in Q3, 2021
  • Social Futures trading is the third stage which will let followers execute the same futures trades made by leaders. However, the option is yet to be determined, and in some instances, the follower may not take the same trading approach from a leader.
  • The final stage will activate futures trading through rebalancing. This option is still also on the table, awaiting an implementation decision.

How to Start

  • Users must first initiate a futures trade on Binance exchange which then presents a list of questions that need to be answered. At this point, the futures trading option on a Binance account is unlocked.
  • Come up with new API keys and enable the futures trading permission while creating the keys.
  • Click on the “update keys” option on Shrimpy to update the newly formed API keys.
  • Using the new Binance account with updated API keys, head over to the dashboard and select the “manage portfolios” option.
  • Complete by clicking on the “enable futures trading” box. From here, Shrimpy will start monitoring your futures portfolio.

Venturing into DEX Trading and Other DeFi Services

Upcoming Exchange Integrations

Crypto.Com

FTX

ByBit

The Approaches Taken to Integrate Exchanges

Conclusion

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