Degen Protocol To Launch New Customizable Margin Trading Platform

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Degen Protocol To Launch New Customizable Margin Trading Platform

May 10 2021

In brief

  • Degen protocol to launch a new intuitive and customizable platform for traders, stakers, lenders and pool creators for massive gains.
  • The platform will feature a pro charting solution, and an opportunity for traders to not only trade with leverage but place limit orders.
  • Users can earn $DGN and $BUSD dividends when they contribute to lending pools.

Centralized finance architecture has been causing a lot of issues for some time now. Blockchain arrived in the form of cryptocurrencies to potentially disrupt the financial system, but the volatile and unstable nature didn’t help in its wide adoption initially. However, a much more sustainable solution soon presented itself in DeFi, which took the world by storm in 2020. A solution to bring different financial instruments such as margin trading, derivatives, certificate of deposit, staking, loans and more to everyone, without a central entity (e.g. Banks) in control. 

A lot of protocols and platforms have since then sprung up with different permissionless solutions in the form of exchanges, dApps and more, solely on the Ethereum blockchain. These protocols are gaining attention rapidly, and have since become available on other chains as well. For example, Degen Protocol brings decentralized and customizable margin trading to the Binance Smart Chain. 

The New Degen Protocol Trading Platform 

Degen Protocol, onboarded by Unimex is set to release its new trading platform where users can easily trade, swap, stake and lend to get mouth-watering dividends. A place where users can trade $BUSD, $WBNB, and as well supply or lend $DGN, $BUSD to get divs. 

The interface will feature a pro charting solution where leverage traders will be able to enter long or short positions (with stop loss and take profit) up to 5x, and also create limit orders on their favorite pair. Traders will be able to easily check their open positions with all the relevant information such as asset, commitment, leverage, SL/TP, P&L, and total size available. 

The platform will not only be easy to use for leverage traders but stakers and lenders as well. Lending and staking on the platform will be seamless. The lending system will feature lots of pools with the ability to filter based on wallet balance, user-supplied, total balance and available pools. It will also be easy to deposit, withdraw and claim dividends from each pool on the same page. 

For stakers, there’ll be an option to purchase $DGN right there on the platform without having to navigate away from the platform. 

What’s Coming?

Degen has a clear roadmap ahead on how they plan to keep improving and creating even more opportunities for its community while sticking strictly to a decentralized model. After the release of its super trading platform slated for Q1-Q2 2021, governance will be added in Q2 to give $DGN holders and stakers full decision-making authority through voting. Additional AMM integration and synthetic derivatives will come in Q3 and Q4 respectively.

Wrapping Up

Degen protocol is a part of the Unimex ecosystem, where opportunities are not only created for experienced margin traders but everyone. With a new strategic marketing partnership with DeFiBoost, a new trading platform, and a lot of things to come, even HODLing the $DGN token should be rewarding.