New Margin Pairs Now Available on Kraken Pro
Kraken is excited to announce the addition of new USD margin pairs for Fartcoin (FARTCOIN), yearn.finance (YFI), Jasmycoin (JASMY), and Pudgy Penguins (PENGU), bringing the total number of margin trading markets on Kraken Pro to over 200. The newly enabled margin trading pairs include:
- FARTCOIN/USD with a leverage of 360,000 for long positions and 60,000 for short positions.
- YFI/USD with a leverage of 355.
- JASMY/USD with a leverage of 31,000,000 for long positions and 1,000,000 for short positions.
- PENGU/USD with a leverage of 32,500,000 for long positions and 2,500,000 for short positions.
Insights into the Newly Added Tokens
Fartcoin (FARTCOIN) is a memecoin based on the Solana blockchain, initially launched by an anonymous developer with the help of the AI bot known as Truth Terminal. It has been lauded as a quintessential meme due to its evenly distributed supply, which prevents any single entity from controlling a significant portion of the tokens. FARTCOIN operates solely as a memecoin without any practical utility.
Yearn.finance (YFI) functions as a decentralized yield optimizer on the Ethereum blockchain, where deposited cryptocurrencies are automatically lent out at competitive rates across various platforms. The YFI token allows holders to engage in governance decisions and receive a share of the fees generated from Yearn Finance’s diverse offerings through staking.
JasmyCoin (JASMY) focuses on developing Internet of Things (IoT) solutions through edge computing and utilizes the InterPlanetary File System (IPFS) for data storage. The project aims to decentralize the management and sharing of sensitive data through “personal data lockers” within the Jasmy network. JASMY serves as the currency for accessing personal data from IoT devices and functions as the utility token for the network.
Pudgy Penguins (PENGU) is the token associated with the popular NFT project of the same name, based on Solana. Launched in December 2024, half of the token supply was distributed through airdrops to existing Pudgy holders and various members of the Web3 community, aiming to foster community growth. PENGU is anticipated to be used as both a governance and utility token, giving holders a voice in protocol decisions and access to exclusive features.
Important Considerations for Margin Trading
To engage in margin trading, users must maintain at least one collateral currency. The provision of margin trading services is subject to specific limitations and eligibility requirements. It is essential to note that margin trading incurs additional fees for entering, exiting, and maintaining positions. Users are encouraged to review the various rates and fees associated with margin trading.
Future Expansion of Margin Pairs
Kraken plans to introduce even more margin pairs in the future, although details about upcoming listings will not be disclosed prior to their launch. All currently available margin pairs can be found on Kraken’s official website, and client engagement specialists will not provide information on potential future listings.
Exercise Caution When Trading
It is important to recognize that there are no guarantees of limit order execution or the availability of margin pools at all times. Market orders may not execute at a specified price due to the liquidity and availability of certain digital assets.
Getting Started with Kraken
If you’re eager to start trading but haven’t set up a Kraken account yet, now is the time to sign up. Keep in mind that margin trading services are subject to specific eligibility criteria and limitations. Trading on margin carries inherent risks and may not be suitable for all traders. For further information, refer to Kraken’s Margin Disclosure Statement.
This information is intended for general purposes only and does not constitute investment advice or a solicitation to buy, sell, stake, or hold any cryptoasset, nor does it endorse any particular trading strategy. Kraken does not influence the price of any cryptoasset made available on its platform. The regulatory landscape for crypto products varies, and Kraken may or may not need to be registered to offer specific products in different markets. Users may not be protected by government compensation or regulatory safety nets. The volatile nature of crypto markets can lead to financial losses, and individuals may be liable for taxes on any returns or value increases of their cryptoassets; independent tax advice is recommended. Geographic restrictions may also be applicable. Please refer to the Legal Disclosures relevant to your jurisdiction for more information.
