Defi is an area of growing concern. The combination of Defi and the booming derivatives market is considered to be one of the most promising markets.
Defi derivatives market
From less than US $1 billion a year ago to US $63.3 billion today from DeFi Pulse, DeFi’s TVL has shown explosive growth and has become one of the most powerful engines of the cryptocurrency market since the second half of 2020.
According to the statistics of the bank for International Settlements which called BIS, the scale of the global financial derivatives market is beyond imagination. Its scale can reach more than 10 times of the global GDP and continues to maintain a rapid growth level.
According to a recent report of Messari, comparing the year to date returns of the decentralized exchange token and the centralized exchange token, Messari found that the performance of the DEX token was on average 500% higher than that of the latter. This is proof of the huge and inevitable growth of the trade in defi space and cryptocurrency. Given the large number of potential users in this field, it may be one of the best times to innovate in this field.
In the past year, the trading volume of the Defi derivatives market has increased from about $2.5 billion to more than $21 billion.
We are firmly optimistic about the defi derivatives industry, not only because of the short-term commercial perspective, the centralized derivatives agreement can share part of the profits from the centralized derivatives giants, such as Bitmex, Okex and Deribit. More importantly, from the perspective of creating long-term value, the decentralized derivatives market has great potential and is at the core of the entire defi ecosystem. It’s going to be the hardest industry to overcome and perfect in the defi industry, but it’s also the most profitable part. The vigorous development of decentralized derivatives agreements will break the island of the Defi agreement, and the combination of Defi and others can create more promising opportunities.
Leverage products are derivatives that appear earlier in crypto market, there are also the derivatives with the highest trading volume at present. Different from spot trading, leveraged products can profit from the falling price of underlying assets, and their leverage property enlarges the trading risk and profit, and can hedge the risk of spot positions and future cash.
At present, most of the contract products in the defi market are perpetual contracts, and the well-known players include Dydx, Perpetual protocol, Injective Protocol, etc. However, compared with the centralized exchange, the existing products in the market still have some shortcomings, such as insufficient liquidity, high gas fee, and still using the order book trading mode, which can’t bring fast and smooth trading experience to users.
In order to give full play to the potential of decentralized finance, we think these problems need to be solved.
This is our opportunity to enter the field. We are pleased to announce that Boostswap, the first fully decentralized leverage and NFT trading platform, unleashes the full potential of decentralized leverage, NFT and boundaryless defi.
Bootswap is the world’s first decentralized leverage and NFT trading platform initiated by overseas communities. It hopes to provide convenient, fast, high liquidity and safe one clicked leverage trading and NFT trading through a decentralized way, and support users to do long / short with one click leverage. Different from the traditional financial field, brokers are not required to act as trusted intermediaries.
For the lender, you can deposit spare digital assets to earn interest. For the trader or borrower, you can borrow digital assets to carry out leverage trading. Bootswap innovatively introduces Mdex, Pancake and other external AMM to provide unlimited liquidity for traders in the way of Defi.
Bootswap launches on Heco first and will launch on BSC, Okchain and Polkadot in the future. It integrates leverage trading, deposit to earn interest, staking, NFT traing,IDO auction and other functions. Also, it has the characteristics of decentralization, DAO community autonomy, AMM automatic market making, cross chain and multi chain, and low gas fee.
Redefine the new experience of defi leverage
Bootswap is essentially completely decentralized, allowing the creation of leveraged trading products without license. These leveraged markets operate on our decentralized point-to-point agreements.
Users participating in boost swap leverage trading do not need to be as cumbersome as the centralized exchange leverage trading. They can choose to be long and short according to their own needs. With one click of swap, they can be long and short with one click of leverage. If they close their positions, they can click close. Other procedures are executed on the smart contract chain, including borrowing, clearing, risk control, etc.
Bootswap innovatively introduces external AMM automatic market makers (such as Pancakeswap, Mdex, etc.), which does not require users or project parties to add liquidity to ensure that the platform has sufficient trading liquidity and lower sliding point. Traders can freely choose the size of long or short positions. In addition to the common USDT and ETH, Bootswap also supports other common bep20 token assets, such as UNI, DOT, and other assets supporting BSC.
In order to reduce the transaction cost, before layer 2 of Ethernet being launched, Bootswap did not choose the Ethernet with high gas cost. It will be launched on Heco chain and adopted the decentralized AMM automatic market making method for leverage trading. Compared with the traditional centralized exchange and order book trading method, it is more secure, free and convenient.
We hope to build a truly free, decentralized, convenient and efficient financial network for everyone. In order to achieve this goal, we will launch Heco intelligent chain, and then cross chain support BSC, Tron, Okchain and other public chains. Our goal is to develop our own public chain, so that users can freely choose any platform to trade.
BoostSwap is a decentralized project initiated by overseas communities. It is fair, open and transparent. It is all governed by the community chain. The voting governance function will be launched later. With BOST Token, you can pass proposals and put forward your own opinions on project optimization and major resolutions.
Here, there is no centralized exchange operator, access without permission, anti- censorship features, no one can close the exchange, there is no risk of counterparties, because users hold their own funds, there is no withdrawal limit or trading scale limit, there is no way to unilaterally change the rules of the exchange, and any asset with public price can be traded.
Defi is still young, but the industry is growing very fast. This technology offers real freedom and has the potential to disrupt the existing financial system. It will take time, of course, but believers are working tirelessly to make it a beautiful new reality. Follow us on our journey to make these dreams come true.
For boost swap, it’s still in its early stages, but we’re happy to be able to enter the trillion dollars derivatives market and create a more free and inclusive financial system through decentralization. Our ambition can be realized through defi: “all the people in the world who have access to the Internet can openly hold or trade any financial asset or transaction”
If you are interested in more information, please visit firstname.lastname@example.org Contact me, we will soon open the source code of the contract and launch a beta trading platform.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Pune journalist was involved in the writing and production of this article.