Hello from OpenLeverage! Ask me anything session is here. Join us!
Dear CryptoCurrencies members, Nice to E-meet you guys! Don’t miss OpenLeverage AMA this Monday, Jan 10 @ 5:30–7:30 PM PST.
My name is Rachel, and I have been OpenLeverage’s global marketing manager since early 2021. And I will be answering questions from the CryptoCurrencies community.
This is a good chance to get the scoop on anything and everything OpenLeverage related directly. Don’t miss the AMA if you want insider knowledge about OpenLeverage.
About us
OpenLeverage is a permissionless margin trading protocol with aggregated DEX Liquidity, enabling traders to be long or short any trading pair on DEXs efficiently and securely.
Q1: Hi there! So what makes your platform different than a lot of other platforms that people can use? Pancake swap, Uniswap, Sushiswap, etc?
OpenLeverage is a permissionless lending margin trading protocol that enables traders or other applications to be long or short on any trading pair on DEXs efficiently and securely.
The Margin Trading on OpenLeverage with Liquidity on DEXs, that connecting traders to trade with the most liquid decentralized markets like Uniswap, Pancakeswap, and more.
Q2: ELI5- What is permissionless margin trading? And what is aggregated DEX Liquidity?
The underlying logic of OpenLeverage is not over-the-counter betting, instead of a real transaction of an order made on DEX.
For example, a 10,000 U.S. dollars 5 times long transaction on UNI/USDC
OpenLeverage needs, in this trading pair pool, to borrow 40,000 US dollars from the liquidity provider, and a total of 50,000 US dollars is spent on Uniswap to buy UNI, by which brings Uniswap $150 in transaction fees.
Uniswap has good reasons to endorse OpenLeverage’s model. It is also expected that more DEX and aggregators will be interested in the future, such as Sushiswap and 1inch.
Q3.1: How is it better than existing margin trading platforms like binance? Not asking wheter it’s more decentralised (…) but performance wise.
Binance has up to 200 trading pairs — with Uniswap, there are potentially thousands of trading pairs to for users to trade. OpenLeverage can support margin trading for thousands of different trading pairs by accessing the depth of Uniswap. This will be a breakthrough in decentralized derivatives products.
Q3.2: And will it match speed and costs? I’ve seen other trading platforms fail to do this and fail as a whole because of it since leveraged trading is a rather precise art.
Good question, many trading platforms, especially Dex, struggle to achieve price aggregation as the depth of leverage is limited. But for OpenLeverage it would be more advantageous, all our trading depth is based on Uniswap or Pancake and there is no order aggregation process, you can borrow and buy directly through OpenLeverage to complete leveraged trading.
In addition, we are also working on preparing other public chains such as BSC, AMAX, and Layer2 solutions on Eth that will allow OpenLeverage transactions to be responded to faster on the chain.
Q4: Could you pls share OpenLeverage’s top milestones, upcoming target milestones and roadmap for the near future?
-The OpenLeverage Kovan Testnet to let users demo trades, and overall feedback and stats from more than 500 users have been positive. Over 31,000 unique addresses have accessed the Testnet, with over 82,000 transactions processed from 126 markets, with more than 1,100 active positions.
- OpenLeverage was invited to present at the Uniswap Community Call in September 2021 to discuss how OpenLeverage should better integrate to benefit both communities.
- As participants in the Creative Destruction Lab (CDL) Blockchain Program in 2021/2022, industry leaders, including Josh Felker, Ash Fontana, and Jeff Enslin, mentored us.
- We have integrated with EPNS to provide real-time notifications on price movements and liquidations.
- OpenLeverage mainnet launched on Ethereum
Within the immediate 3 to 6 months, OpenLeverage intends to launch our product, integrate with Uniswap V2 and V3, and have a multi-chain deployment including a Layer-2 solution.
There are plans to integrate with more DEXs to support more token pairs. Native $OLE tokens and OpenLeverage DAO will launch to boost protocol usage with decentralized governance.
From 2022 onwards, we have planned extensions and enhancements to the protocol, with priorities including GameFi social trading and NFT, tranche lending with smart vault, and limit order for margin trading.
Q5: Hey🤗, I would like to know the ways which I can earn huge profits from OpenLeverage😊. Thanks🙏
Hi there! I am NOT giving financial advice.
But I can tell If you wanna mining the OpenLeverage token which is $OLE is available through lending, borrowing, liquidation facilitation, yield farming, and revenue sharing after staked into time-weighted escrow. Staked $OLE holders will share 46.6% of the protocol revenue stream, enjoy boost of OLE earning on incentivized pool and fees discount on margin trades.
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OpenLeverage Product
Official Website — https://openleverage.finance/
Testnet — https://kovan.openleverage.finance/app
OpenLeverage Socials
Discord — http://discord.gg/openleverage
Twitter — https://twitter.com/OpenLeverage
Reddit — https://reddit.com/r/OpenLeverage
Medium — https://medium.com/@OpenLeverage
Github — https://github.com/OpenLeverageDev/openleverage-contracts
