Launch perps on ARS/USDC

Brief Argentina has one of the most active crypto ecosystems in the world. One key reason is that the Argentine Peso (ARS) is one of the most volatile currencies, often cited by well-known crypto enthusiasts such as Tim Draper and Michael Sailor for losing nearly 99% of its value against the USD over the last decade. Government bond defaults and savings confiscations are also very frequent, Argentines basically do not have tools to protect their wealth other than buying USD notes and hiding them in their homes, or crypto which has the issue of short term volatility. For these reasons, hedging the ARS/USD risk is vital for Argentinians, as well as most people living in Emerging Markets economies.

Background EMDX has already announced a technological partnership with Matba Rofex to work on the integration of the official Matba Rofex (MTR) Chainlink nodes 4 on the Avalanche network. By integrating the industry-leading decentralized oracle network, EMDX has access to high-quality, tamper-proof price feeds needed to securely relay real-time asset prices to EMDX’s.

Rationale Nowadays, the US dollar futures market in Argentina is only available to exclusive broker-dealers, excluding a large number of retail traders from participation. A Web3 version of FX derivatives on LATAM currencies will open up a universe of opportunities for retail investors and financial players in Emerging Markets to enjoy tools for easily hedging while allowing those in developed countries to freely gain exposure in these types of assets. In addition, there exist about 10M of crypto retail investors and pro-traders that operate exclusively on Argentinian spot exchanges without leverage nor the ability to hedge themselves from ARS/USD exchange rate volatility. Check https://coinmonitor.info/ 5 to get a prime on the several implicit exchange rates available in Argentina, so to have an idea how helpful the product proposed here can be. They all might be (very likely) potential users for this EMDX product.