Select Page

Doc's Daily Commentary and Watchlist

Mind Of Mav

 

Overview of Crypto Options Exchanges – Part 3 (LedgerX/FTX)

LedgerX was the original US-based crypto derivatives exchange; it has now become part of the FTX.US exchange. What’s different about LedgerX/FTX from other exchanges (like Deribit) is that they offer PHYSICAL SETTLEMENT of Bitcoin or Ethereum. 

What this means is that if you are exercised on an option, you will receive the equivalent value of BTC or ETH based on the value of the option. In this manner, this options exchange is a vehicle for turning USD into crypto! 

 

Merging Your LedgerX Account

 

If you were a legacy user of LedgerX, you’ll need to “merge” this account into your FTX.us account so you can secure all of your assets into one interface. Once you log into derivs.ftx.us, you can sign into your account and then accept the “merge” request: 

 

Once you log into your master FTX.us account, you can access your options account via the “Fully-collateralized derivatives platform” available in the “Wallet” section of FTX.us. 

 
 

Using the LedgerX/FTX Options Platform

One of the issues with trading on LedgerX in the past was the low-volume, illiquid nature of the options available there. This means that there were few strike prices and the bid-ask spreads were insanely wide. Moving to FTX means that there is much more open interest than before, and bid/ask spreads are at least reasonable now. 

The interface is quite standard vs. other “normal” options interfaces: 

Something that the experienced options trader will have to get used to is that the LedgerX/FTX options interface is meant to transact single options, and not complex spread positions where more than one option can be traded. This will eventually be added as traders become more sophisticated. 

Bottom Line – LedgerX/FTX

Regardless of what you think of Sam Bankman-Fried, FTX is currently the driving force in centralized exchanges and is bringing more and more eyeballs (and funds) to the crypto space. To me, that’s a good thing and the guy knows what he’s doing in the trading space. I think that it’s ultimately a good deal to have FTX in charge of a US-based spot crypto options exchange, and I expect to see more innovation out of this firm. 

 
 

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

View V3 Portfolio (Phase 2) by clicking here.

View V3 Portfolio (Phase 1) by clicking here.

Read the V3 Portfolio guide by clicking here.

What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

Move Your Mouse Over Charts Below For More Information

The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

Add your vote to the V4 Portfolio by clicking here.

Read about building Crypto Portfolio Diversity by clicking here.

What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

 

 

Move Your Mouse Over Charts Below For More Information

Our Discord

Join Our Crypto Trader & Investor Chatrooms by clicking here!

Please DM us with your email address if you are a full OMNIA member and want to be given full Discord privileges.