BLEX AMA Content Review: BLEX will expand to more layer2 solutions
On the evening of December 1st, 2023, BLEX community ambassador Liam Bacon participated in a Twitter space titled “Exploring the Future of LSDFi: Challenges and Opportunities” organized by Klein Labs. Some questions about BLEX and Liam’s answers in this Twitter space are organized below, so read on!
In the first section, Liam has BLEX introduced to the subscribers.
BLEX is a decentralized perpetual contract trading platform, aiming to provide a secure, transparent, and trustless digital asset trading environment. Currently, BLEX supports Metamask, Tokenpocket, Coinbase, and other mainstream web3 wallets. Its core features include decentralized trading, self-hosted wallets for asset security, anonymous trading, and liquidity provision. We are proud that users can directly control their assets and trade them on BLEX without having to trust them on BLEX.
Q: What are your BLEX’s most prominent features and competitive advantages in the crowded DeFi landscape?
A: Our products include:
- Feed Mechanism: BLEX uses an index feed model to ensure the accuracy and stability of the trading price.
- Stablecoin LP Pool: Users can use USDT to provide liquidity to the platform and earn the corresponding protocol revenue and additional team rewards.
- PC and Mobile APP: BLEX provides cross-platform access for users to trade on any device.
- Trader to LP Trading Mechanism: This mechanism increases the incentive for users and LPs to participate in the BLEX platform, making trading more attractive.
- Complete economic system: The BLEX ecosystem includes 4 tokens and 1 NFT, building a comprehensive economic system.
- Protocol Revenue Distribution: 100% of the protocol revenue goes to BLE token holders, providing potential revenue opportunities for participants.
Q: Liquidity is crucial for exchanges. How does BLEX provide liquidity? What is the Trader to LP trading mechanism, and what benefits does it offer to both users and LPs?
A: It is important to note that while market makers and liquidity providers bring significant benefits to the DeFi ecosystem, their activities can also carry risks. Market manipulation, front-running, and impermanent loss are among the challenges that both market makers and liquidity providers need to consider and manage effectively.
Liquidity is crucial for a decentralized perpetual exchange. BLEX employs a decentralized liquidity provision mechanism that allows users to participate in trades by providing assets as Liquidity Providers (LPs). These LPs can deposit funds into a liquidity pool, thus providing sufficient liquidity to traders. In the initial phase of the project, the BLEX team provided initial liquidity to enhance the trading experience of the users. Users can use USDT to provide liquidity to BLEX into the stablecoin LP pool. By providing liquidity to the platform, users can earn protocol revenue, additional team token rewards, etc. BLEX’s liquidity pool is made up entirely of stablecoins, which avoids the risk of impermanent losses in the DeFi program. BLEX provides more opportunities for liquidity providers through the Stablecoin LP Pool, while at the same time guaranteeing the stability of liquidity.
Stablecoin LP Pool: Users can use USDT to provide liquidity to the platform and earn the corresponding protocol revenue and additional team rewards.
Q: How do you view the future development of LSDFi? What do you believe will be the next major narrative in the DeFi sector?
A: LSD has become the standard for PoS ecosystems and has emerged as one of the major trends in DeFi. LSD generates stable and low-risk passive income, contributing to the stability of the blockchain. LSDfi is a logical extension of LSD, creating a complete economic system that not only generates substantial income but also simplifies interactions with the LSD project.
LSDfi will continue to evolve and witness the increasing complexity and uniqueness of the project. Let us look forward to its future development together.
DeFi is a rapidly evolving sector, and predicting its exact future development is challenging. However, there are several potential trends that may shape the next steps in DeFi’s evolution:
- Cross-Chain Interoperability: Currently, most DeFi applications are built on a single blockchain network. However, there is a growing need for interoperability between different blockchain platforms. Cross-chain solutions, such as bridges and interoperability protocols, could facilitate seamless asset transfers and interactions between different DeFi ecosystems. The perspective on multi-chain and cross-chain development in the DeFi space will also be applied to BLEX. Currently, we have only launched the main net on Arbitrum, but in the near future, BLEX will continue to expand to as many other blockchain networks as possible.
- Layer 2 Scaling Solutions: Scalability has been a challenge for many blockchain networks, leading to congestion and high transaction fees during periods of high demand. Layer 2 scaling solutions, such as sidechains and rollups, aim to address these issues by processing transactions off-chain or in a more efficient manner, reducing costs and improving scalability.
- Expansion of DeFi Use Cases: DeFi started with lending and borrowing protocols, but we are now witnessing the emergence of various other DeFi use cases, such as decentralized insurance, synthetic assets, decentralized derivatives, and decentralized identity solutions. The next wave of DeFi development may involve the expansion and innovation of these use cases, unlocking new opportunities and attracting a wider range of users.
What are the most exciting things going on right now with BLEX?
- A trading competition with a total prize pool of $50,000 USD:
Participate in the trading contest now 👉 https://app.blex.io/#/more/competitions
The Trading Competition is currently in full swing and the winner will walk away with a grand prize of up to $7,500 USD, and the top 50 rankings will be awarded with a total prize pool of up to $50,000 USD! Adhering to the principle of openness and transparency of blockchain, the data of all traders participating in the Trading Competition will be updated in real-time on the official website!
- BLEX Trading Partner Hot Recruitment 🔥:
BLEX is recruiting professional perpetual contract traders for the whole market, BLEX will provide the initial capital, losses will not be counted, but you will take away up to 100% of the profits!
Learn more about BLEX’s program progress and activities. Please stay tuned:
Website: https://blex.io/
Twitter: https://twitter.com/Blex_io
Telegram: https://t.me/bestblex
Medium: https://blex.medium.com/
Whitepaper: https://blex.gitbook.io/blex/whitepaper/abstract
