1/ If you missed GMX, don't miss this gem π
A new decentralized market for derivatives.
@LogiumDEX empowers users to long or short ER20 tokens on Uniswap with up to 5x leverage: π§΅π
A new decentralized market for derivatives.
@LogiumDEX empowers users to long or short ER20 tokens on Uniswap with up to 5x leverage: π§΅π
2/ Logium is a new DeFi derivatives marketplace for betting against the future price of ERC20 tokens.
Built on Ethereum, Logium aims to bridge the gap between DeFi and the derivatives market.
With Logium, traders will be able to long and short up to 30 tokens.
Built on Ethereum, Logium aims to bridge the gap between DeFi and the derivatives market.
With Logium, traders will be able to long and short up to 30 tokens.
3/ Logium enables users to:
- Bet on every token from Uniswap, even with low liquidity
- Ability to bet on all available tokens
- Easily short tokens without the need for KYC
- Conduct transparent and secure trades
- Bet on every token from Uniswap, even with low liquidity
- Ability to bet on all available tokens
- Easily short tokens without the need for KYC
- Conduct transparent and secure trades
4/ Best of all, users can trade directly from their wallets on the app.
This is a step towards ensuring the safety of users' funds while trading. In contrast, traders do not have control of their funds while using other CEXs.
This is a step towards ensuring the safety of users' funds while trading. In contrast, traders do not have control of their funds while using other CEXs.
5/ How it works!
Firstly, there are two main parties in Logium: bet issuer & bet taker
- Bet issuers make the price predictions
- Bet takers picks the bets and execute them.
Essentially, issuers are always betting against takers.
Firstly, there are two main parties in Logium: bet issuer & bet taker
- Bet issuers make the price predictions
- Bet takers picks the bets and execute them.
Essentially, issuers are always betting against takers.
6/ A bet, also known as βoptionβ or βpositionβ is a P2P agreement between two users about the future price of any chosen ERC20 asset
On the platform, users bet against themselves. A user might predict the rise, while the other predicts the fall of a token's price.
On the platform, users bet against themselves. A user might predict the rise, while the other predicts the fall of a token's price.
7/ The system rewards the users with the right prediction with 100% of the opponent's bet.
The users are then settled at the end of the bet duration, usually 1 hour, 6 hours, 1 day, 7 days, 30 days, and 1 year.
The users are then settled at the end of the bet duration, usually 1 hour, 6 hours, 1 day, 7 days, 30 days, and 1 year.
8/ It is worth mentioning that placing bets does not incur extra fees other than the usual Ethereum gas fees.
Logium only charges a small fee from the bet winner.
For now, the platform only accepts wallet integration with Metamask.
Logium only charges a small fee from the bet winner.
For now, the platform only accepts wallet integration with Metamask.
9/ The price of the crypto assets is taken from Uniswap V3. Moreso, users can trade all tokens on Uniswap from day one.
A good thing about derivatives platforms is that they have the capability to perform well regardless of the market condition.
And, @LogiumDEX is no exception.
A good thing about derivatives platforms is that they have the capability to perform well regardless of the market condition.
And, @LogiumDEX is no exception.
10/ Generally speaking, the DeFi options and derivatives market is heating up recently, and it's best to get involved.
Personally, I'm bullish on the derivatives market.
Personally, I'm bullish on the derivatives market.
Disclosure: The team contacted me for an educational thread.
Follow me @ViktorDefi for more insightful project threads, narratives & low-caps.
Follow me @ViktorDefi for more insightful project threads, narratives & low-caps.
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