HitBTC is to list FOTA – the native asset of the Fortuna platform.
Fortuna is the first blockchain platform established to tackle several of the core problems found in the global over the counter (OTC) derivatives market; a market that the Bank for International Settlements (BIS) estimates to have a gross market value of over $12.7 trillion.
The company, led by CEO Brian Cai, is creating a specialized network, which aims to vastly improve the trust, efficiency, liquidity, and flexibility of the end to end derivatives process.
For instance, trust is to be improved with the implementation of an optimized DPOS consensus algorithm (called DPOSA), as well as blockchain hosted smart contracts and a decentralized quote scheme. Meanwhile credit risk is minimized and liquidity improved through the use of the FOTA trading token.
The derivatives market is also full of time consuming and costly processes that make the industry ripe for operational efficiencies. Fortuna’s solution is to use blockchain based smart contracts to streamline derivative contract creation, price quoting, contract signing, trading and clearing, altogether reducing friction in the marketplace.
In achieving these goals, the Fortuna platform is bringing to the cryptocurrency trading community the world’s first dedicated derivatives platform built on the blockchain. Its single node derivatives platform, aptly named ‘’Black Friday’’, will launch in April 2018, with a scheduled release of its fully decentralized main net in Q3.
To find out more about Fortuna, please see the official website.