List sAVAX on EMDX

Brief sAVAX is a Liquid Staking token from BENQI that allows a user to unlock liquidity while participating in securing the Avalanche Network.

Specification & Rationale As sAVAX holder, I usually face some downside risk without any solution in the market to limit my potential losses. It is important to highlight that using derivatives on AVAX is useless as a hedging strategy since both assets reflect price dislocation most of the time.

Listing sAVAX would allow users to hedge its staking positions, offering protection against undesired market conditions and in turn generating revenue to EMDX.

sAVAX is the largest Liquid Staking token on Avalanche and has over 3M sAVAX in circulation with deep liquidity in AMMs.

By listing perpetual swaps on sAVAX, EMDX will have the opportunity to engage BENQI’s community, which is one the biggest in the Avalanche ecosystem. As of now they have 63,7k followers on Twitter and 25,8k on Telegram.

Another relevant condition to implement the product consists of Data Feed availability for sAVAX/USD provided by Chainlink.