Bitcoin News and Finance
CoinFLEX Announces Its Major Milestones of 2021 Skip to main content

CoinFLEX Announces Its Major Milestones of 2021

PRESS RELEASE. Since early August, CoinFLEX has seen a tremendous increase in trading activity, climbing to a staggering high of $3 billion USD daily trading volume with Open Interest over $200 million dollars. The increase in trading volumes and market liquidity are indications of CoinFLEX’s rapid adoption.

CoinFLEX’s repo volume has also seen a significant increase, with total trading volumes surpassing $120 billion. The repo market is vital to the CoinFLEX ecosystem as its profits fuel flexUSD’s competitive APRs.

On CoinFLEX and other futures exchanges, futures markets have a lot of trading activity, creating “basis.” Basis is the price differential between spot trades and futures contracts. flexUSD is deployed through the repo market to take advantage of the price difference.

For this reason, although flexUSD offers variable market-based interest rates, current users are experiencing high APRs. When there’s a dislocation between the spot and futures price, a trading bot will arbitrage the price difference and pay flexUSD holders on-chain every 8 hours.

Last month, flexUSD experienced one 8-hour window of 70% APR and an average 16.58% 7-day APR. These rates are extremely attractive compared to other DeFi lending platforms that see low single-digit APRs or, worse, saving accounts in traditional banks that see 0.01% APRs.

flexUSD Marketcap Hits $100M

With the competitive APRs that flexUSD offers, it’s no surprise users have minted $100 million of the stablecoin as a safe and secure way to generate high-yielding passive income.

AMM+

While flexUSD is showing interest rates that are magnitudes higher than those generated through its DeFi and TradFi counterparts, users of CoinFLEX’s AMM+ are reporting even higher rates.

AMM+ TVL hit $99 million. The market volatility was felt most significantly in AMM+ volume, which soared to an incredible $933 million.

Although AMMs generally require more active participation than managing stablecoin deposits such as flexUSD, providing liquidity on the AMM+ requires far less effort than running traditional market-making operations. Instead of needing the skills of a professional market maker and actively managing trade positions, with the AMM+ anyone can put on an AMM position and begin trading.

The AMM+ benefits the CoinFLEX ecosystem by providing liquidity to all CoinFLEX markets. This creates a far better trading experience for AMM+ users, as it allows users to execute trades more accurately and effectively.

Thank you FLEXers

“Who can we thank for this incredible growth? FLEXers, both old and new. August has seen our highest number of new users, largely coming from the DeFi community thanks to our recent Metamask integration. This means signing up for a CoinFLEX account can be done in just a few clicks with your Metamask wallet!”

CoinFLEX Pushes to Decentralization

Chainlink Partnership

CoinFLEX has partnered with Chainlink to integrate decentralized price feeds to the system. This will serve as an additional layer of reliability, becoming the default source of price data in the unlikely event that our systems become unresponsive for a short period of time. This will give us a constant, decentralized source of price information.

Decentralized Custody

CoinFLEX is also excited to announce its continued commitment to decentralization with the introduction of decentralized custody later this year. CoinFLEX will be decentralizing private key ownership of outgoing withdrawal transactions. This means CoinFLEX will not be able to have any control over their customer’s account activity, unlike other centralized exchanges. This is the type of customer protection users can experience with a hybrid CEX-DEX model.

In addition to decentralized custody, users benefit from CoinFLEX’s impressive seven-year track record in custodying crypto assets. This outlines how seriously CoinFLEX takes security and gives users peace of mind that their assets are secure from any threat from both internal and external factors.

SmartBCH

CoinFLEX is a major participant in the Smart Bitcoin Cash, or smartBCH, ecosystem, serving as the primary centralized bridge before the decentralized “SHA Gate” solution is live.

smartBCH is a sidechain for Bitcoin Cash that is designed to be fast and have inexpensive transactions. It is also EVM compatible, so it can bridge with the Ethereum network and provide high throughput for decentralized applications in a fast, secure, and decentralized manner. To further explore how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.

To further explore how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.

 

About CoinFLEX

Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.

CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.

Telegram | Twitter | LinkedIn | Facebook | Youtube | Reddit

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory