This XAUT event is really the type of 'eating from both ends to be sure'! The way to play is simple but a bit… sneaky 😆: you buy spot XAUT first to participate in the spot event. Then, take that same amount of XAUT to collateralize a loan in USDT. Now that you have money, what to do? Short future XAUT to hedge in case the gold price turns around – like 'one hand holding gold, one hand ready to catch'.
The good point is that you are doubling your participation: there is both spot to enjoy the event and future to hunt rewards on the derivatives side. When the price goes up, the spot profits; when the price goes down, the short covers. No matter how the market moves, there is still a chance to survive.
Of course, it's not 'free money', you still need to manage margin and leverage appropriately, or it could turn from defense into... self-destruction 😅. But if managed well, this is a quite interesting strategy to optimize capital when trading tokenized gold like XAUT.
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