Gujarat Magazine

THORChain& BitMax.io to collaborate on the launch of BEPSwap

 Breaking News
  • No posts were found

THORChain& BitMax.io to collaborate on the launch of BEPSwap

October 02
01:25 2019

THORChain has partnered with BitMax.io (BTMX.io) to launch BEPSwap to the global Binance Chain community, which will include staking of BEP2 assets, swapping and potentially other capabilities, such lending and derivatives at a later date.

BEPSwap

BEPSwap was announced on July 2019 as the first Decentralized Finance (DeFi) app on Binance Chain. Since July, over 14 projects valued at over $200m in combined market cap have committed to supporting the launch of the protocol. These projects include high profile projects such as Matic Network, Harmony, and Elrond, as well as community favourites such as Bolt Global, TomoChain and Atomic Wallet. When launched, BEPSwap will allow any BEP2 asset holder of these projects to stake their assets in “continuous liquidity pools” and earn on liquidity fees. 

More importantly, since these pools have “always-on” liquidity, it will result in much deeper and stronger markets for all participating projects. Holders of those assets will able to easily enter and exit markets, and even swap directly between coins. Since the markets are transparent and available, then prices will always represent the prevailing secondary market price. This dissuades market manipulation as it financially exposes anyone trying to move prices away from the market. As a result, the prices of the pools can be taken as true market price and can function as a source of trustless price feeds for supported assets.

Advanced Features

Since the pools will represent the fair market price at all times and can resist manipulation, then much more advanced financial features can be built, such as lending and derivatives. Since BEPSwap pools can function at any liquidity depth, then collateralised lending can be built for any BEP2 asset, no matter the price or liquidity. Once a health lending market is built, this in turn can power derivatives such as futures and swaps, and even support margin trading. The BEPSwap team is actively researching how this can be built safely into the platform, but the fundamentals are in place for this to be shipped.

BitMax.ioSupport of BEPSwap

BitMax.io team brings together a power-house of financial and blockchain experts, and theirinstitutional-grade trading platform – is an example of this. BitMax.iomakes the perfect partner of BEPSwap being an early supporter of BEP2 assets andfunction as market placefor digital-asset trading. BitMax.io will collaborate with the BEPSwap team to integrate BEPSwap staking natively into the platform so that BitMax.io users can have the option to stake directly from their exchange balances. Once staking function is in place, more dynamicfeatures such as Lending and Derivatives can potentially be built on top of that.

BitMax.iohas just conducted inaugural listing of the RUNE token on the platform, that would support efficient price discovery of the RUNE assets ahead of Main-net release later this year. Furthermore, BitMax.io will work with the team on community-building and co-branded marketing activities to increase the exposure of the platform.

Media Contact
Company Name: BitMax
Contact Person: Bella Long
Email: Send Email
Country: United States
Website: http://btmx.io

Categories