Decentralized Perpetual Trading Platform YFX starts Genesis Mining
YFX, the first DEX that offers 100x trading leverage on perpetual contracts has just announced YFX token distribution plan. Anyone can participate genesis mining to get rewards of YFX token on Binance Smart Chain, Huobi Heco Chain and TRON.
The genesis mining including three events: trade mining, liquidity mining and trading competition. Each event has its own YFX token pool. When user trade or provide liquidity on yfx.com, he or she will receive Hash Power according to the dollar value of the position. YFX token will be distributed after the events end according to the accumulated Hash Power. here is no public sale of YFX token. All YFX token offer to the public will through these mining events.
The distribution of YFX is the first step YFX enter DAO. YFX token gives voting power to decided key parameters on YFX. It also enables future development work from team outside core development team, it can make sure when new technics came out, YFX could catch up with the trend to evolve by itself.
YFX 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 runs on Binance Smart Chain, Huobi Heco Chain and TRON, 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 is the first DEX that offers 100x trading leverage on perpetual contract. YFX Descartes V1 launched on Binance Smart Chain, Huobi Heco Chain and TRON, 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.
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