2021-1-29 14:30 |
PRESS RELEASE. YFX, the first DEX that offers 100x trading leverage on perpetual contracts has just launched, adding an important piece to the DeFi money legos, and creating a direct competition against CEX on derivatives trading.
The most traded Bitcoin product in centralized exchanges is Bitcoin futures, which is 10 times bigger than spot trading in terms of the trading volume. But in DEX, spot trading platforms like Uniswap are occupying a large portion of the total trading volume, and there is not a single decentralized futures trading platform that could reach even 1/10 of Uniswap’s trading volume. What stops decentralized futures trading platforms from becoming 10 times bigger than Uniswap? Why are decentralized futures trading platforms performing worse than their centralized counterparts?
The main reason is that decentralized futures exchanges don’t currently provide an attractive futures product to compete with centralized futures exchanges. For instance, centralized futures exchanges like BitMex can provide 100x leverage on Bitcoin futures trading. On the other hand, decentralized futures exchanges like dYdX only offer 10x leverage. None of the decentralized exchanges can keep up with the 100x leverage offering from centralized exchanges.
YFX Descartes V1 uses QIC-AMM and a system de-risk mechanism to migrate perpetual futures trading from CEX to DEX without reducing the trading leverage, which makes YFX the first DEX that could offer 100x leverage on a perpetual contract. You can do everything on YFX that you can do on BitMex or OKEx. YFX is poised to compete directly against established centralized exchanges. YFX Descartes V1 runs on the TRON MainNet, for faster transaction times and cheaper gas fees compared to Ethereum. The YFX team is also working on Ethereum’s Layer 2 solution to provide pragmatic perpetual trading on DEX. YFX team plans to launch their DEX on Huobi Heco and Ethereum Test net in Q1, 2021.
About YFX
YFX is the first DEX that offers 100x trading leverage on perpetual contracts. YFX Descartes V1 launched on the TRON MainNet, and all trades are held and processed by smart contracts. The main goal of the YFX team, which is formed by a group of engineers who have years of experience working on trading systems and blockchain, is to build a DEX that can compete with CEX on derivative trading.
Reference:
Website: https://www.yfx.com/
Trading: https://trx.yfx.com/
Twitter: https://twitter.com/YFX_Defi
Telegram: https://t.me/YFX_EN
Discord: https://discord.gg/xwAtjpabC5
Media Contact: [email protected]
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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