Futures contracts are defined as transactions between a buyer and a seller for a financial instrument at a predetermined price for delivery or cash settlement at a set time in the future, regardless of any price movements in between. "EverMarkets is designed to bridge and modernize both the cryptocurrency and traditional financial markets,” said Jim Bai, CEO and co-founder of EverMarkets. “[This] exchange strives to create a marketplace that is fair for everyone and provides superior transparency and efficiency. Just as importantly, we're giving cryptocurrency traders the means to expand their portfolios into traditional asset classes without the friction that the existing exchange model creates."According to EverMarkets, the EMX exchange will allow cryptocurrency holders to access traditional futures contracts for stocks, indices, bonds and commodities through EMX tokens held by blockchain-based smart contracts. The users will be able to withdraw the tokens into their private wallets without lengthy approvals or prolonged waiting periods. “Crypto traders want put their new wealth to work in other areas of the financial markets,” Bai said in conversation with Bitcoin Magazine. “EverMarkets will give them a viable route to diversifying their holdings and trading cryptocurrencies in new, innovative ways.” Bai added that EMX will create a single marketplace for crypto and traditional futures from around the world, enabling traders to deploy innovative trading strategies without having to access multiple venues..“EverMarkets intends on enhancing the crypto-based trading experience,” continued Bai. “Through a combination of financial market expertise and innovation, EMX will provide a new level of sophistication to how cryptocurrencies — and traditional commodities — are traded and cleared. With the EMX Token, cryptocurrency traders will have a seamless way to trade and post collateral, without any need to convert from fiat currencies.”EverMarkets will launch a token sale and a futures trading competition, which will allow traders to access the EMX platform. According to the white paper, last updated in August 2017, the EverMarkets platform is based on the Ethereum blockchain, and a company representative confirmed that EMX will be based on it as well. EverMarkets stated that more information will be released in the next few weeks. In the meantime, the company has launched a blog and channels on Twitter, Reddit and Telegram.“We’re excited to deploy solutions on top of the blockchain to create a more efficient and transparent way to trade,” Bai told Bitcoin Magazine. “Part of our vision is to extend the use of cryptocurrencies to the broader financial world. Through smart contracts, decentralized custody of assets and the all-in-one utility of the EMX Token, EverMarkets is aiming to utilize these innovations to
