Bitget Becomes The First To Support Liquid Staking Derivatives As Collateral For Futures

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Victoria, Seychelles, April 26th, 2023 — Bitget, top crypto derivatives and copy trading platform, has announced the addition of Liquid Staking Derivatives (LSDs) as a margin option for Bitget Coin-margined Futures, making it the first centralized exchange to provide such products on the market. This new feature will allow traders to continue earning staking rewards while also utilizing their staked assets for trading purposes.

Bitget Coin-margined Futures is a unique product designed for crypto-enthusiasts, supporting multiple currencies as a margin for various futures trading pairs. With the introduction of LSDs as collateral, traders can now access the liquidity of staked assets without having to unstake them. Currently, Bitget supports stETH as collateral for the first rollout, and plans to expand support for more assets for LSDs collateral in the future.

Using LSDs as a margin offers a range of benefits for cryptocurrency traders. It provides increased flexibility and diversification, helping users manage risk more effectively and potentially offering a more efficient way to use staked assets for trading. This can be particularly advantageous for traders looking to expand their trading strategies beyond holding or staking cryptocurrencies. Furthermore, using LSDs as a margin can help investors increase the liquidity of staked assets. By earning staking rewards while providing liquidity for trading, LSDs can create a more vibrant trading ecosystem and potentially increase the overall value of staked assets.

 "With this latest addition, Bitget continues to solidify its position as the leading crypto derivatives