By Guest Author
YFX.COM, a decentralized crypto trading platform, now offers traders with a 100X leverage to trade various digital assets including Bitcoin, and Ethereum across several blockchains. Some of the supported blockchain on the YFX.COM include the Binance Smart Chain, Polkadot, Ethereum, Tron, Heco, and OKex chain.
Notably, the YFX.COM platform does not use the KYC protocol, thus novice and new traders can onboard anytime. Besides, the platform combines the latest technologies to allow fast, secure, and cheap transactions.
YFX.COM enables traders to take profits at any time through its vast liquidity pool market. Furthermore, the low gas fees help traders minimize losses associated with high fees. The platform utilizes the layer 2 scaling solution to achieve nearly zero gas fees.
In a bid to remain competitive in the highly changing market, YFX.COM taps on the Quoted Index Price-automatic market maker (QIC-AMM) technology to provide high liquidity and low slippage to traders. “The depth of a transaction is correlated to the amount of liquidity of the market maker’s capital pool. This combination of protocols allows for YFX.COM to be an efficient leverage trading platform on the market,” the company noted in a press release.
YFX.COM trading platform is also the world’s first decentralized cross-chain perpetual contract exchange. Cryptocurrency traders seeking to tap into the growing DeFi market can use the YFX.COM platform to access different crypto markets. Moreover, the decentralized financial ecosystem has attracted institutional investors and grown to over $50 billion markets according to metrics provided by Defi Pulse.
The YFX.COM developers also tapped on the xDai Chain to enable cheap transactions. Notably, the xDai chain is an Ethereum side-chain that offers more efficiency without compromising the security aspects. Through the xDai chain, transactions in the YFX.COM are more convenient and the fees are a fraction of fees on ETH mainnet.
Having met the needs of most crypto traders, YFX.COM has received notable prizes from the Tron Foundation. Among them, the platform won the first prize at the Tron 2021 Global DeFi Hackathon. In addition, the platform also won the First Prize in the Tron 2021 Global DeFi Hackathon Developer Contest.
Currently, YFX.COM is holding the Genesis Mining II event that allows traders to compete against each other. The platform has seen its trading volume up to over $1 billion and its liquidity pool to over $10 million.