press release
PRESS RELEASE. Since early August, CoinFLEX has seen an amazing enhance in buying and selling exercise, climbing to a staggering excessive of $3 billion USD each day buying and selling quantity with Open Interest over $200 million {dollars}. The enhance in buying and selling volumes and market liquidity are indications of CoinFLEX’s fast adoption.
CoinFLEX’s repo quantity has additionally seen a major enhance, with whole buying and selling volumes surpassing $120 billion. The repo market is significant to the CoinFLEX ecosystem as its earnings gasoline flexUSD’s aggressive APRs.
On CoinFLEX and different futures exchanges, futures markets have quite a bit of buying and selling exercise, creating “foundation.” Basis is the worth differential between spot trades and futures contracts. flexUSD is deployed by means of the repo market to take benefit of the worth distinction.
For this cause, though flexUSD provides variable market-based rates of interest, present customers are experiencing excessive APRs. When there’s a dislocation between the spot and futures value, a buying and selling bot will arbitrage the worth distinction and pay flexUSD holders on-chain each 8 hours.
Last month, flexUSD skilled one 8-hour window of 70% APR and a median 16.58% 7-day APR. These charges are extraordinarily engaging in comparison with different DeFi lending platforms that see low single-digit APRs or, worse, saving accounts in conventional banks that see 0.01% APRs.
flexUSD Marketcap Hits $100M
With the aggressive APRs that flexUSD provides, it’s no shock customers have minted $100 million of the stablecoin as a protected and safe option to generate high-yielding passive earnings.
AMM+
While flexUSD is displaying rates of interest which are magnitudes greater than these generated by means of its DeFi and TradFi counterparts, customers of CoinFLEX’s AMM+ are reporting even greater charges.
AMM+ TVL hit $99 million. The market volatility was felt most importantly in AMM+ quantity, which soared to an unimaginable $933 million.
Although AMMs typically require extra energetic participation than managing stablecoin deposits corresponding to flexUSD, offering liquidity on the AMM+ requires far much less effort than operating conventional market-making operations. Instead of needing the talents of knowledgeable market maker and actively managing commerce positions, with the AMM+ anybody can placed on an AMM place and start buying and selling.
The AMM+ advantages the CoinFLEX ecosystem by offering liquidity to all CoinFLEX markets. This creates a much better buying and selling expertise for AMM+ customers, because it permits customers to execute trades extra precisely and successfully.
Thank you FLEXers
“Who can we thank for this unimaginable development? FLEXers, each outdated and new. August has seen our highest quantity of new customers, largely coming from the DeFi neighborhood due to our latest Metamask integration. This means signing up for a CoinFLEX account will be executed in just some clicks together with your Metamask pockets!”
CoinFLEX Pushes to Decentralization
Chainlink Partnership
CoinFLEX has partnered with Chainlink to combine decentralized value feeds to the system. This will function a further layer of reliability, changing into the default supply of value information within the unlikely occasion that our programs develop into unresponsive for a brief interval of time. This will give us a relentless, decentralized supply of value data.
Decentralized Custody
CoinFLEX can also be excited to announce its continued dedication to decentralization with the introduction of decentralized custody later this yr. CoinFLEX will likely be decentralizing non-public key possession of outgoing withdrawal transactions. This means CoinFLEX will be unable to have any management over their buyer’s account exercise, not like different centralized exchanges. This is the kind of buyer safety customers can expertise with a hybrid CEX-DEX mannequin.
In addition to decentralized custody, customers profit from CoinFLEX’s spectacular seven-year monitor file in custodying crypto property. This outlines how critically CoinFLEX takes safety and offers customers peace of thoughts that their property are safe from any risk from each inside and exterior elements.
SmartBCH
CoinFLEX is a significant participant within the Smart Bitcoin Cash, or smartBCH, ecosystem, serving as the first centralized bridge earlier than the decentralized “SHA Gate” answer is dwell.
smartBCH is a sidechain for Bitcoin Cash that’s designed to be quick and have cheap transactions. It can also be EVM suitable, so it could possibly bridge with the Ethereum community and supply excessive throughput for decentralized purposes in a quick, safe, and decentralized method. To additional discover how you can earn and commerce crypto within the CoinFLEX ecosystem, try www.coinflex.com.
To additional discover how you can earn and commerce crypto within the CoinFLEX ecosystem, try www.coinflex.com.
About CoinFLEX
Founded in 2019, CoinFLEX is the Home of Crypto Yield and is dedicated to offering institutional and retail traders an simply accessible platform to earn and commerce crypto.
CoinFLEX creates modern options to deliver traders and crypto markets collectively by means of intuitive yield merchandise corresponding to flexUSD, the world’s first interest-earning stablecoin, and AMM+, essentially the most capital-efficient automated market maker on the earth. CoinFLEX is backed by crypto heavyweights, together with Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.
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This is a press release. Readers ought to do their very own due diligence earlier than taking any actions associated to the promoted firm or any of its associates or companies. Bitcoin.com isn’t accountable, instantly or not directly, for any harm or loss brought on or alleged to be brought on by or in reference to the use of or reliance on any content material, items or companies talked about within the press release.
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https://news.bitcoin.com/coinflex-announces-its-major-milestones-of-2021/
