The permissionless protocol enables margin trading opportunities for users and creates opportunities for projects and long-tail tokens on the KCC Chain.
OpenLeverage, a permissionless lending and margin trading protocol, is now live on the KuCoin Community Chain (KCC). The permissionless design of OpenLeverage will promote KCC Chain’s long tail to be used as a margin for hedging, trading, and speculation. This announcement marks another milestone completion in OpenLeverage’s strategic roadmap and its third successful deployment in five months.
Unleashing Growth Potential
Since its launch in June 2021, the KCC has shown enormous growth and potential as a new chain. Created by the community and supporters of Kucoin, KCC is a high-performance decentralized project and is fully compatible with EVM and ERC-20 smart contracts. KCC has extremely low costs in migration and a healthy ecosystem. KCC Chain utilizes Proof of Stake Authority (PoSA), which provides an efficient, secure, and robust ecosystem for users and projects.
These potentials lay a solid groundwork for greater collaboration and encourage growth between OpenLeverage and the KCC Chain. With OpenLeverage’s deployment, users will now have more access to decentralized exchanges on the KCC Chain, such as MojitoSwap and KuSwap, and create any pair that has depth as well as long or short it. Projects and long-tail tokens on the KCC Chain can now have increased avenues to get liquidity.
The collaboration with KCC, a developing ecosystem with strong mechanics and effective product design, and OpenLeverage is indicative of their philosophies to encourage community-based decentralization and unleash growth on the KCC Chain.
Bringing Margin Trading to KCC
As the KCC Chain is still a new ecosystem, users are just limited to spot trading tokens with no leveraging. OpenLeverage’s deployment will enable margin trading on the KCC Chain, which will allow more users to familiarize themselves with the OpenLeverage protocol and experience how easy it is to create any specific pair on lending markets, execute trades, and provide liquidity in a permissionless margin trading market. The deployment will enable margin trading and lending for hundreds of new and existing specific token pairs on the KCC Chain. New projects on KCC can create lending pools with single on-chain transactions to support margin trading and boost trading volume from day one of launch.
Margin trading can magnify trading volume for KCC users and projects alike while providing trading strategies and added risk management tools. Unlike traditional leveraging devices offered by centralized exchanges (CEXs), OpenLeverage allows anyone to create any token pair without permission by accessing depth from DEXs – anyone on KCC can create a margin trading market as easily as creating a liquidity pool on a DEX. No permission is required to create a margin trading market for any specific pair with isolated and market-adjusted risk control.
Silence, marketing manager for OpenLeverage states, “We believe that KCC will be very successful in the public chain race due to their great potential and user base. They have a great ecosystem with a lot of development and community involvement. Deploying OpenLeverage onto KCC will benefit users and projects immensely and our communities can grow with each other.”
About OpenLeverage
OpenLeverage, a permissionless lending, and margin trading protocol, is deployed on Ethereum and the BNB Chain, with future multi-chain deployments planned. The permissionless design of the protocol allows users to launch a leverage trading market for arbitrary trading pairs, integrating with the liquidity provided on decentralized exchanges. OpenLeverage provides a permissionless, decentralized, scalable, and secure leveraged trading facility that serves the long tail and fast-growing DeFi market. OpenLeverage has surpassed its milestones of US $150 million trading volume and US$ 10 million in TVL, with thousands of active users.
OpenLeverage has completed its fourth security audit with community-based Code4rena, along with audits with Certik and Peckshield.
Learn More
Website: https://OpenLeverage.finance
Twitter: https://twitter.com/OpenLeverage
Discord: https://discord.gg/openleverage
GitHub: https://github.com/OpenLeverageDev/openleverage-contracts
Disclaimer: This is a paid post and should not be treated as news/advice.
Source: https://ambcrypto.com/openleverage-live-on-the-kucoin-community-chain/