Mo. Mai 16th, 2022

BTCSHORT seeks to provide the inverse return of Bitcoin for a single day through the use of short sales. Our smart contract is integrated with industry-leading lending facilities and execution providers. When depositing stablecoin to our smart contract, we go out and initiate loans at the most competitive rates and sell at the best price. Users can buy this token as a hedging mechanism or as a means of protection against declining Bitcoin prices.

Swiss fintech firm Amun launched its BTCSHORT (BTCS) daily inverse token, which returns gains based on inverse price movements of bitcoin (BTC) in a given 24-hour period. The product complements a recent bitcoin inverse exchange-traded product (ETP) released by Amun in January and now overseen by sister-firm 21Shares following a March rebranding.

„Typically, these purchases are short-term in nature, usually on a daily basis, as the holder aims to move in quickly to leverage a near-term decline in bitcoin to make a positive return,“ the firm said in an announcement.

This token seeks to provide its target of -1x to the return of Bitcoin on a daily basis. Due to compounding of daily returns, holding periods of greater than 1 day can result in returns that are significantly different.

 

Launch Date: May 6, 2020
Symbol: BTCSHORT
Underlying: Bitcoin
Leverage: -1
Decimals: 18
Contract: 0xcBe79cEca09092648995B2CCdf91cA5ECD1EdEc9

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