Kalshi has filed documents to launch perpetual futures contracts on crypto assets such as XRP, Solana, and Dogecoin in the United States. If approved, U.S. traders will be able to take long-term positions based on price movements of these tokens without holding the underlying spot assets.
Plan to launch multiple altcoin contracts
According to the disclosure, these products will feature a perpetual contract structure with no fixed expiration date, and positions will be maintained through a funding rate mechanism. The article states that this design will allow U.S. users to track spot prices more directly while retaining exposure to derivatives trading.
- XRP
- Solana
- Dogecoin
Pricing integration with CF Benchmarks
The document shows that Kalshi plans to incorporate benchmark price data from CF Benchmarks, a digital asset index provider, as the foundation for trading and pricing its related products. The company states that this framework was selected due to its high transparency and reliability.
The report noted that CF Benchmarks' price data is publicly recorded and subject to regulatory oversight. Kalshi also stated that this mechanism remains operational even during exchange outages or market disruptions.
The reference price is sourced from multiple exchanges.
To reduce pricing discrepancies and potential vulnerabilities, the relevant benchmarks will aggregate market data from multiple regulated trading platforms to determine reference prices and funding rates. The platforms mentioned include Coinbase and Kraken.
If the product is ultimately approved, its pricing will not rely on a single exchange but will be based on aggregated data from multiple platforms. This also means the range of U.S.-tradable altcoin derivatives could expand further.