In last few hours WRX token has been added on few exchanges for trading including Binance, Wazirx and Coindcx. It was traded on all exchanges with good volume. Users who had WRX tokens on wazirx could only access 10% of their total amount to sell. I have seen lot of people unhappy about 90% of their tokens locked and value of WRX in terms of USD or INR or BTC may go down by the time its available for them to sell it on any exchange.
A tweet thread by Naimish about his opinion on WRX and related things:
https://twitter.com/ThatNaimish/status/1225033550648369152
One trader in CCI telegram group talking about locking the value of WRX tokens:
And you can find lot of people discussing same thing in different tweets related to WRX and some even wanted to trade it on margin.
Delta exchange has added perpetual swaps contracts for WRXBTC with up to 20x leverage which can be used to hedge and lock the value in terms of BTC for the amount any user is holding but cant sell right now because of restrictions. For many users BTC is the ultimate store of value and they might want to convert their WRX to BTC before halving.
If you have $1000 worth of WRX on WazirX that you cannot sell, then short for that much amount on Delta Exchange with 1x leverage. Now value of your WRX holdings is locked at the price you have shorted.
If the price goes down then tokens on WazirX lose value but short position on Delta makes money.
Ensure that you consider the funding in perpetual swaps as well:
Nothing said above is a financial advice, do your own research before trading. If you have any questions, feel free to join Delta Exchange Telegram Group and ask anything related to WRX perp swaps: https://t.me/deltaexchat
Use my referral link to get trading benefits on Delta: https://www.delta.exchange/referral?code=BLGNHE
