Derivatives exchange CoinFLEX has just announced it plans to launch physically-settled Libra futures, Bloomberg reports.
The platform apparently plans to launch these futures contracts through an Initial Futures Offering (IFO) on October 24. These futures contracts will reportedly allow investors to bet on whether Libra will be launched by December 30, 2020.
Basically, investors betting on the fact that Libra will go live on time will lose all their funds if Facebook's stablecoin is not operational by December next year.
Libra futures will have an initial price of 30 cents.
This is not CoinFLEX's first IFO for a token that has not yet been launched. In July it launched futures contracts for Polkadot project's DOT tokens. The platform also offers physically-settled futures for bitcoin, Bitcoin Cash and ethereum.
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