Wednesday’s drop in the price of bitcoin was sudden, unexpected and severe — about 10%, followed by an equally sharp 5% bounce back. Passage, a new dapp launching today on Ethereum rollup Arbitrum, aims to help traders bet on volatility in a new, gamified way.

Passage is a market for trading volatility simply, without relying on more complex options strategies. It’s essentially a prediction market for price ranges, offering short duration —  initially two days — ETH-denominated contracts.

The concept is to allow for trading volatility as intuitively as a perpetual future (perp), but the product can also serve as an effective complement to perp trading, according to co-founder…

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