On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
PRESS RELEASE. Since early August, CoinFLEX has seen a tremendous increase in trading activity, climbing to a staggering high of $3 billion USD daily trading volume with Open Interest over $200 million dollars. The increase in trading volumes and market liquidity are indications of CoinFLEX’s rapid adoption.
CoinFLEX’s repo volume has also seen a significant increase, with total trading volumes surpassing $120 billion. The repo market is vital to the CoinFLEX ecosystem as its profits fuel flexUSD’s competitive APRs.
On CoinFLEX and other futures exchanges, futures markets have a lot of trading activity, creating “basis.” Basis is the price differential between spot trades and futures contracts. flexUSD is deployed through the repo market to take advantage of the price difference.
For this reason, although flexUSD offers variable market-based interest rates, current users are experiencing high APRs. When there’s a dislocation between the spot and futures price, a trading bot will arbitrage the price difference and pay flexUSD holders on-chain every 8 hours.
Last month, flexUSD experienced one 8-hour window of 70% APR and an average 16.58% 7-day APR. These rates are extremely attractive compared to other DeFi lending platforms that see low single-digit APRs or, worse, saving accounts in traditional banks that see 0.01% APRs.
flexUSD Marketcap Hits $100M
With the competitive APRs that flexUSD offers, it’s no surprise users have minted $100 million of the stablecoin as a safe and secure way to generate high-yielding passive income.
AMM+
While flexUSD is showing interest rates that are magnitudes higher than those generated through its DeFi and TradFi counterparts, users of CoinFLEX’s AMM+ are reporting even higher rates.
AMM+ TVL hit $99 million. The market volatility was felt most significantly in AMM+ volume, which soared to an incredible $933 million.
Although AMMs generally require more active participation than managing stablecoin deposits such as flexUSD, providing liquidity on the AMM+ requires far less effort than running traditional market-making operations. Instead of needing the skills of a professional market maker and actively managing trade positions, with the AMM+ anyone can put on an AMM position and begin trading.
The AMM+ benefits the CoinFLEX ecosystem by providing liquidity to all CoinFLEX markets. This creates a far better trading experience for AMM+ users, as it allows users to execute trades more accurately and effectively.
Thank you FLEXers
“Who can we thank for this incredible growth? FLEXers, both old and new. August has seen our highest number of new users, largely coming from the DeFi community thanks to our recent Metamask integration. This means signing up for a CoinFLEX account can be done in just a few clicks with your Metamask wallet!”
CoinFLEX Pushes to Decentralization
Chainlink Partnership
CoinFLEX has partnered with Chainlink to integrate decentralized price feeds to the system. This will serve as an additional layer of reliability, becoming the default source of price data in the unlikely event that our systems become unresponsive for a short period of time. This will give us a constant, decentralized source of price information.
Decentralized Custody
CoinFLEX is also excited to announce its continued commitment to decentralization with the introduction of decentralized custody later this year. CoinFLEX will be decentralizing private key ownership of outgoing withdrawal transactions. This means CoinFLEX will not be able to have any control over their customer’s account activity, unlike other centralized exchanges. This is the type of customer protection users can experience with a hybrid CEX-DEX model.
In addition to decentralized custody, users benefit from CoinFLEX’s impressive seven-year track record in custodying crypto assets. This outlines how seriously CoinFLEX takes security and gives users peace of mind that their assets are secure from any threat from both internal and external factors.
SmartBCH
CoinFLEX is a major participant in the Smart Bitcoin Cash, or smartBCH, ecosystem, serving as the primary centralized bridge before the decentralized “SHA Gate” solution is live.
smartBCH is a sidechain for Bitcoin Cash that is designed to be fast and have inexpensive transactions. It is also EVM compatible, so it can bridge with the Ethereum network and provide high throughput for decentralized applications in a fast, secure, and decentralized manner. To further explore how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.
To further explore how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.
About CoinFLEX
Founded in 2019, CoinFLEX is the Home of Crypto Yield and is committed to providing institutional and retail investors an easily accessible platform to earn and trade crypto.
CoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first interest-earning stablecoin, and AMM+, the most capital-efficient automated market maker in the world. CoinFLEX is backed by crypto heavyweights, including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.
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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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