Decentralised margin trading and lending coming to Avalanche


Choose your language:
bZx will launch its flagship platforms – Fulcrum and Torque – on Avalanche to take advantage of the blockchain’s high capacity and low fees
Avalanche announced yesterday it was integrating the open finance protocol bZx to bring decentralised margin trading, borrowing and lending to the Avalanche DeFi (decentralised finance) ecosystem. The integration will allow bZx to leverage Avalanche’s low fees and high capacity to grow the protocol and launch its applications on Avalanche.
Avalanche’s infrastructure will enable better performance of bZx’s flagship platforms – Fulcrum and Torque. Users can enter into tokenised long or short positions at up to 5x leverage and lend their assets to collect interest with Fulcrum. Torque, on the other hand, is a DeFi platform for the instant borrowing of assets, with fixed interest rates and indefinite term loans.
The total value locked in bZx has risen by almost $3 million since the start of the new year to $17.74 million, with a total of $24.35 million deposited, according to data from OKLink. Fulcrum in particular has seen a surge in usage recently, with bZx tweeting yesterday: “Trading volumes on Fulcrum have gone past our previous ATH. $8.5M+ in the last 24 hours!”
Co-founder of bZx, Tom Bean, commented, “Our proliferation to other chains like Avalanche is an encouraging sign of the maturity of the protocol and growth of our developer community.”
Borrowing and lending are very popular DeFi solutions at the moment. In fact, the top three out of five DeFi apps ranked by total value locked are lending apps, according to data from DeFi Pulse. However, the high demand for these financial primitives is too much to handle for many blockchain platforms, leading to unsustainable transaction fees.
Transactions on Avalanche though are routinely finalised for fees of less than a cent in under a second. These qualities, along with Avalanche’s open-source architecture and decentralised nature, will enable a better user experience for the bZx platforms.
bZx stands out as the only lending protocol which calculates interest rates with the use of decentralised price feeds. The protocol has also ensured that gas fees don’t increase as it supports more assets by integrating the CHI gastoken, launched by 1inch last year.
Details of the integration are still being finalised, but it is expected to be completed in the first quarter of 2021.
Keep updated with our round the clock and in-depth cryptocurrency news.
Unsub anytime
No SPAM ever!
After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.
Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.
CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.
When trading in stocks your capital is at risk.
Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.


Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

LinkedIn study shows crypto jobs are well dispersed across the US

Next Post

Visa launches an NFT programme to attract digital artists

Related Posts