NEAR launches 24/7 NIFTY 50 perpetual contracts, with a maximum support of 20 times leverage

According to The Defiant, NEAR has launched the NIFTY 50 Index 24/7 perpetual contract, which is built on Hyperliquid, supports up to 20 times leverage, and settles profits and losses in USDC based on index points, without involving physical delivery of Indian stocks.

This product uses cross-chain funding, allowing users to trade long and short positions on the Indian benchmark stock index NIFTY 50 during round-the-clock trading hours without the need to hold or receive the underlying stock assets.