I spent 24 hours researching @spin_fi a #crypto project that raised $3.75M in a seed round with top-tier VCs and NEAR blockchain.
A new player emerging on @0xPolygon zkEVM
Here is everything you need to know about the project and what they are building ๐งต ๐
A new player emerging on @0xPolygon zkEVM
Here is everything you need to know about the project and what they are building ๐งต ๐
This thread covers:
- Spin overview
- Platform features
- Tokenomics
- Yield
- Funding news
- NFT collection
- Roadmap
- Conclusion
Let's Start!
- Spin overview
- Platform features
- Tokenomics
- Yield
- Funding news
- NFT collection
- Roadmap
- Conclusion
Let's Start!
Trade and invest with ease on a decentralized platform powered by @NEARProtocol.
With a wide range of products catering to all trader types, their goal is to offer you a DeFi experience that rivals traditional exchanges.
With a wide range of products catering to all trader types, their goal is to offer you a DeFi experience that rivals traditional exchanges.
@NEARProtocol @spin_fi has launched on Polygon zkEVM, becoming the first order book DEX on the chain.
Launching on Polygon zkEVM because it's the most EVM-compatible zk rollup, providing an advanced experience for users and builders.
Launching on Polygon zkEVM because it's the most EVM-compatible zk rollup, providing an advanced experience for users and builders.
Platform Features:
We have a range of exciting products on offer, including:
โข Spot Trading
โข Instant Swaps
โข Trade Perpetual Futures
โข DeFi Option Vaults (DOVs)
Let's take a closer look at each one of them ๐
We have a range of exciting products on offer, including:
โข Spot Trading
โข Instant Swaps
โข Trade Perpetual Futures
โข DeFi Option Vaults (DOVs)
Let's take a closer look at each one of them ๐
(1) Spot Trading
- Lowest trading fees on NEAR Protocol (~3x cheaper than AMM DEXes)
- 50% taker fee rebates for makers
- Multiple order types (Limit, Trigger, etc.)
- Informative charts and trading/order history.
- Lowest trading fees on NEAR Protocol (~3x cheaper than AMM DEXes)
- 50% taker fee rebates for makers
- Multiple order types (Limit, Trigger, etc.)
- Informative charts and trading/order history.
(2) Instant Swaps
- Swap any asset with ease
- Spin's order book saves you 3x more on swapping fees than AMM DEXes.
- Swap any asset with ease
- Spin's order book saves you 3x more on swapping fees than AMM DEXes.
(3) Perpetual Futures
- Earn on any price movement, up or down
- All you need is USDC collateral to start trading
- Increase your balance by up to 10 times with leveraged positions
- Earn on any price movement, up or down
- All you need is USDC collateral to start trading
- Increase your balance by up to 10 times with leveraged positions
(4) DeFi Option Vaults
- A form of automated investing technique (for example, the Covered Call and Cash-Secured Put).
- Users deposit the necessary assets into these vaults to boost liquidity, which is then utilized as collateral for the various strategies.
- A form of automated investing technique (for example, the Covered Call and Cash-Secured Put).
- Users deposit the necessary assets into these vaults to boost liquidity, which is then utilized as collateral for the various strategies.
5/
Utility and governance token for Spin protocol. Holders can propose/vote on decisions.
$SPIN holders get 50% of protocol revenue in $USDC & escSPIN. Market makers receive $SPIN tokens.
Utility and governance token for Spin protocol. Holders can propose/vote on decisions.
$SPIN holders get 50% of protocol revenue in $USDC & escSPIN. Market makers receive $SPIN tokens.
$SPIN tokens are rewarded to active traders based on trading volume, staked $SPIN, and completed orders.
Make big bucks by selling options or capitalizing on volatility by buying them.
Make big bucks by selling options or capitalizing on volatility by buying them.
options trading plan is a breeze with low entry barriers and easy management of expiry, premiums, and strike.
No wonder it's led to the highest TVL growth on $NEAR
No wonder it's led to the highest TVL growth on $NEAR
Spin raised $3.75M in seed funding from Lemniscap, GSR, Spartan Group, ZMT Capital, Longhash Ventures, and Angel DAO.
prnewswire.com
prnewswire.com
2022 Freaky Elves NFTs are fully minted and tradable on @ParasHQ.
The collection offers priority access to the $Spin token sale plus it's floor price is already x10 from the mint price.
The collection offers priority access to the $Spin token sale plus it's floor price is already x10 from the mint price.
Conclusion:
- Well-implemented concepts like escrowed rewards and multiplier points.
- More products in the pipeline to capture a larger audience.
- Need for an increase in the range of tradeable assets
- Well-implemented concepts like escrowed rewards and multiplier points.
- More products in the pipeline to capture a larger audience.
- Need for an increase in the range of tradeable assets
And that's it!
If you enjoyed this thread
1. Follow me @cyrilXBT and turn on notifications so you don't miss out! ๐
2. Retweet the 1st tweet of this thread to help inspire others:
If you enjoyed this thread
1. Follow me @cyrilXBT and turn on notifications so you don't miss out! ๐
2. Retweet the 1st tweet of this thread to help inspire others:
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