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May 31, 2021, 11:34:30 AM |
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Hey Guys,
I was browsing around and I saw that CoinFlex (crypto/bitcoin derivatives exchange) released their new whitepaper for Flex 2.0. I've been following them and their exchange token (FLEX) for a while, as they have a pretty awesome derivatives exchange and interest-bearing stablecoin (flexUSD) - but a few things caught my eye:
1. They're opening up a DECENTRALIZED clearing and custody setup - meaning you can essentially connect your MetaMask/Digital Wallet and trade on their derivatives exchange with NO additional friction. No KYC. Nobody else offers that at the moment.
2. FlexUSD is currently the only on-chain interest-bearing stablecoin on the market, and they're planning on bringing it onto SmartBCH. The latter is essentially a smart contract chain that takes everything positive about ETH and adds in parallel processing - bringing block times and fees lower than we've seen with even Solana and BSC. It could be a chance to get in on the ground floor.
3. Normally it takes quite a bit of effort to be a market maker, but they have this neat DeFi product called AMM+ that essentially lets you deposit funds into their perp market and automates the process for you (in exchange for LP tokens, obviously). It essentially lets you earn from the takers on the exchange with no effort. :')
I don't know about you guys, but this seems pretty neat. In my opinion CoinFlex has a lot of room to grow, and this could be huge.
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