Introducing the GEN 3.0 Exchange

The future of crypto trading is here, with a seamless trading experience and much more

Oct 19, 2022

Following the unveiling of the GEN 3.0 Exchange, we are pleased to share more details about this monumental upgrade to the Exchange. By transitioning the Exchange to a ‘one-exchange-and-one-wallet’ infrastructure, its functionality and accessibility improves by leaps and bounds. This also enables us to build better and more advanced tools for our users at greater scale and speed.

Right after the upgrade is complete, every Exchange user will enjoy the following benefits:

Trade every market with one wallet 

Users no longer need to go through the hassle of transferring assets between their Spot, Margin, and Derivatives wallets. Now, users can seamlessly trade across all products with a single wallet. Check out the highlights of this ‘one-wallet’ experience:

  • One-click Margin trading: Eligible users can begin Margin trading by simply toggling it on with one click. Within the trading UI, they can also monitor their collateral levels at a glance.
  • Multi-collateral support: Eligible Margin and Derivatives traders can access up to 89 Spot assets as collateral. Traders also enjoy lower margin requirements and efficient margin offsets via the smart cross-margin policy. More details on this below.

Please note that access to the Margin and Derivatives markets is subject to jurisdictional restrictions.

Enjoy greater flexibility with the USD Bundle

Selected stablecoins and USD will be combined to form a USD Bundle directly in your wallet. Here’s how users will enjoy greater convenience, improved flexibility, and a better trading experience from this enhancement:

  • USD Bundle deposits and withdrawals: Users can deposit BUSD, TUSD, and USDC and these are the stablecoins that will make up a user’s USD Bundle balance. Users can flexibly withdraw the stablecoin of their choice at a 1:1 ratio with no conversion fees charged or spreads incurred.
  • USD Bundle trading pairs: All BUSD, TUSD, and USDC-denominated trading pairs will become a USD Bundle-denominated pair, referred to as /USD. Users can start trading USD Bundle pairs right away with their USD Bundle balance. 
  • (Coming Soon) Direct USD fiat deposits and withdrawals: Retail users can directly deposit and withdraw USD to their Exchange account. Their USD deposits will be part of their USD Bundle balance as well, along with the aforementioned stablecoins.

Please note that all /BUSD, /TUSD, and /USDC trading pairs will be replaced by /USD after the Exchange’s upgrade is complete.

Benefit from significant capital efficiency improvements

We’re introducing a smart cross-margin policy following the Exchange’s upgrade. This will mean greater capital efficiency and lower margin requirements for traders using leverage in the Margin and Derivatives markets. Here’s how:

  • Significant margin reductions: Margin requirements for positions in opposite directions will be offset. All long or short positions with the same underlying assets may receive a margin reduction of up to 50%. This is especially beneficial for traders applying a typical calendar spread strategy.
  • Efficient collateral management: All existing collateral is used automatically for risk reduction and cost saving, reducing the user’s leverage, and margin and loan interest.
  • Cross-product margin offsets: The margin calculation process is streamlined in multiple product types, allowing for margin requirement offsets across the products.

Best-in-class performance

After the upgrade is complete, the Exchange will boast additional latency reductions for even faster trade executions. Check out the table below for more details.

The latency performance shown above can be achieved by users trading on the “Deriv API v1”.

The GEN 3.0 Exchange is expected to go live soon and this monumental upgrade will entail a downtime of approximately six to eight hours. We will notify users again as we approach the date of the upgrade.

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