As many of you are aware, while we tremendously enjoy bringing you the newsletter, what we enjoy even more is the opportunity to work on some cutting-edge products in the exciting crypto/blockchain space. Over the years, this experience in working on a range of projects have significantly informed this newsletter. We have built some cool projects over the past few years, including 108token.com, satoshiand.co, the now-retired Fordex, and Singapore’s premier event in the space for 2018 - Decentralize
We are now delighted to announce the launch of our crypto derivatives exchange Qume
The untold back story on Qume - Part 1
Qume has been in the works for a while now, ever since Aditya and I stumbled upon this team of super sharp MIT Computer Science dropouts working out of a ‘hacker-house’ in Oakland, after having earned their spurs at Pantera/Goldman/HP etc.
The initial conversation was focused on taking a superior tech stack and building out a class-leading spot exchange platform across a few different Asian geographies. Infrastructure plays have all the returns in this stage of the crypto market evolution. However, very quickly it became clear that the derivatives space was far more interesting than the plain vanilla spot exchange market.
While both are infrastructure plays, derivative market plays are decidedly more acyclical than spot exchanges; compare volumes across Coinbase, Binance and Bitmex for instance. Derivatives also offer an avenue for exposure to BTC without ever owning BTC or getting bogged down in some of the custody or regulatory questions that often come up if you are fund manager.
We will continue to build out on the back-story on Qume in following editions. But for now, we are happy to note that after months of rigorous internal testing, we are finally opening up the platform to retail traders and institutions. We are launching the exchange with one product offering (BTC perpetuals) and we plan to launch a few more derivatives products soon.
We encourage you to sign-up
on the platform and give us feedback on what you like about the platform and what can be further improved. Also, there is an affiliate link on the top-right once you sign in, so you get upto 30% commission on sign-ups that happen through that link once you share that with your network! We also have an official telegram channel that you can follow here.