New York, Sunday, October 20, 2024 – Ostium Labs, a blockchain-based perpetuals trading startup, has launched its public mainnet, offering users the opportunity to trade real-world assets such as gold and pork belly futures on a decentralized platform.
The platform allows for low-cost participation, enabling traders to start with as little as $10.
Co-founded by Kaledora Kiernan-Linn and Marco Ribeiro during their time at Harvard, the startup seeks to overcome traditional market barriers like large contract sizes and limited leverage options found in centralized exchanges. Ostium enables trading synthetic versions of assets, allowing traders to take long or short positions.
Unlike most crypto-focused platforms, Ostium aims to capture global macro markets. The team has built a blockchain oracle to feed real-time data to traders and partnered with Gelato to automate smart contract tasks.
Ostium has attracted backing from major investors, including LocalGlobe and General Catalyst. Despite its early stages, the platform saw a significant 550% increase in FX and commodities volumes following China’s recent quantitative easing measures.
CEO Kiernan-Linn expressed confidence in the platform’s potential, stating, “Anybody can have a view on the future and express that through a strategy.”
