Raita RWA Accounts for 70% of Open Interest

The decentralized derivatives exchange Raita has integrated with the Robinhood chain, with real-world assets (RWA) accounting for 70% of the total open interest. Galaxy Digital discussed Raita's business direction and the adjustments in the virtual asset market in a podcast released on the 15th. The broadcast mentioned the market situation where Bitcoin has fallen to $77,000, the rise in international oil prices, and the interest rate decisions by the Federal Open Market Committee (FOMC) as key variables. The regulatory framework of the U.S. perpetual futures market and the closure vote on the Clarity Act were also discussed, along with the pathway to obtaining a license from the Commodity Futures Trading Commission (CFTC), but no specific voting results or Raita's licensing schedule were presented. Robinhood announced in July that eligible users in certain jurisdictions could access Raita's perpetual futures through the Robinhood Wallet. Robinhood explained that Raita allocated 11 million LIT for the Robinhood community, and the product is traded through self-custodial wallets and Raita's smart contracts. Raita operates a zero-commission trading model targeting individual users and proposed a structure where 100% of trading profits are used for LIT repurchases, although the scale and timing of the repurchases and the processing methods were not disclosed. Future products mentioned include on-chain order book-based options and cross-collateral portfolio margins, but no launch dates were provided.

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