The FTX crypto derivatives exchange intends to launch markets for Ethereum cryptocurrency coins located in the signal chain (English – Beacon Chain) of the Ethereum 2.0 update, CoinDesk writes.
On Wednesday, the official release of The Ethereum 2.0 Deposit contract took Place. at the time of publication, it contains 16,500 ETH worth $6.6 million. The Deposit contract does not allow you to withdraw assets, so the launch of the derivatives market will help investors who will not be able to exit their positions at least until the first phase of Ethereum 2.0, get access to liquidity.
FTX plans to launch BETH tokens, which will be tokenized ether coins contributed to the Ethereum 2.0 staking. Ethereum
Foundation
Researcher Justin Drake said that such a Deposit contract device was designed specifically to avoid the emergence of a second asset available for trading. Ethereum co-founder Vitalik Buterin believes that market participants will not have an incentive to provide liquidity for the second version of ether, since moving coins to a new chain without gaining the status of a validator makes no sense.
However, nothing technically prevents exchanges from listing such an asset and attracting market makers to service trades. It is expected that the value of the token will be affected by the profitability of staking, which will be from 8% to 15% per year, and the inherent risks. For example, penalties for failure to perform validator functions are imposed on the Deposit.
"Security concerns are the primary intermediary problem, because the people who will take financial risks will no longer be the ones who issue blocks, and validators will no longer bear direct financial risks, only indirect ones," said the hasu analyst, adding that in the interests of security, exchanges may limit the volume of BETH tokens available for trading to the amount of ether deposited in their wallets for staking.