FIO Now Added On Binance Cross-Margin Trading
FIO now added on Binance cross-margin trading a one-stop hub allowing Binance users to trade assets with access to greater sums of capital and leveraged positions.
Margin trading amplifies trading results so that traders are able to realize larger profits on successful trades. This ability to expand trading results makes Margin trading especially popular in low-volatility markets, particularly the international Forex market. Still, Margin trading is also used in stock, commodity, and cryptocurrency markets.
Furthermore, in traditional markets, the borrowed funds are usually provided by an investment broker. In cryptocurrency trading, however, funds are often provided by other traders, who earn interest based on market demand for Margin funds. Although less common, some cryptocurrency exchanges also provide Margin funds to their users.
Binance has added FIO, as new borrowable assets on Cross Margin alongside SPELL, and IMX tokens. The new cross-margin pairs are FIO/BUSD and FIO/USDT.
BRIEF INFORMATION ABOUT THE FIO PLATFORM
The FIO Protocol runs on its own dPoS blockchain, the FIO Chain. As the internal economic driver, the FIO Token is utilized to pay for all fees necessary to write data to the chain.
While the FIO Token is necessary to utilize the FIO Protocol. Users do not need to directly obtain the token, as the FIO Protocol designs for the ability to accept indirect payments. Users can potentially pay for their FIO Protocol usage through intermediaries, including through the Foundation itself, and through using various other popular cryptocurrencies.
FIO-enabled products may also choose to pay in part, or in whole, the cost of an FIO Crypto Handle registration/renewal.
ABOUT FIO
FIO, means Foundation for Interwallet Operability. A decentralized consortium of blockchain organizations and community members supporting the ongoing development, integration, and promotion of the FIO Protocol. The protocol is open-source. Decentralized usability layer solution that works across all blockchains. Uses human-readable Crypto Handles to replace the complexity, risk, and inconvenience that come with blockchain base transactions using public addresses.
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