PRESS RELEASE. Since early August, CoinFLEX has seen a huge increase in trading activity, reaching a record high of $ 3 billion in daily trading volume with open interest above $ 200 million. Increasing transaction volumes and market liquidity are indications of the rapid adoption of CoinFLEX.
CoinFLEX’s repo volume has also seen a significant increase, with total transaction volumes exceeding $ 120 billion. The repo market is vital to the CoinFLEX ecosystem as its profits fuel flexUSD Competitive APR.
On CoinFLEX and other futures exchanges, the futures markets have a lot of trading activity, creating a ‘base’. The basis is the price differential between spot transactions and futures contracts. flexUSD is deployed in the repo market to take advantage of the price difference.
For this reason, although flexUSD offers variable interest rates based on the market, current users are familiar with High APR. When there is a dislocation between the spot price and the futures price, a trading bot will arbitrate the price difference and pay the on-chain flexUSD holders every 8 hours.
Last month, flexUSD experienced an 8 hour window of 70% APR and a 7-day average APR of 16.58%. These rates are extremely attractive compared to other DeFi lending platforms that see low single digit APRs or, worse, savings accounts at traditional banks that see 0.01% APRs.
FlexUSD Market Cap Reaches $ 100 Million
With the competitive APRs offered by flexUSD, it is no surprise that users have struck $ 100 million in stablecoin as a safe and secure way to generate high yield passive income.
While flexUSD is posting higher interest rates than its DeFi and TradFi counterparts, CoinFLEX AMM + users are reporting even higher rates.
AMM + TVL reached $ 99 million. Market volatility was felt most significantly in AMM + volume, which climbed to $ 933 million.
Although AMMs generally require more active participation than managing stable deposits such as flexUSD, providing liquidity on AMM + requires much less effort than executing traditional market making operations. Instead of needing the skills of a professional market maker and actively managing trade positions, with AMM + anyone can advance to an AMM position. and start trading.
AMM + benefits the CoinFLEX ecosystem by providing liquidity to all CoinFLEX markets. This creates a much better trading experience for AMM + users as it allows users to execute trades more accurately and efficiently.
Thank you FLEXeurs
“Who can we thank for this incredible growth? FLEXers, old and new. August saw our largest number of new users, largely from the DeFi community thanks to our recent Metamask integration. This means create a CoinFLEX account can be done with just a few clicks with your Metamask wallet!
CoinFLEX pushes for decentralization
CoinFLEX has partnered with Chain link integrate decentralized price flows into 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 and decentralized source of price information.
CoinFLEX is also excited to announce its continued commitment to decentralization with the introduction of decentralized custody later this year. CoinFLEX will decentralize the ownership of the private keys of outgoing withdrawal transactions. This means that CoinFLEX will not be able to have any control over its client’s account activity, unlike other centralized exchanges. This is the type of client protection that users can experience with a CEX-DEX hybrid model.
In addition to decentralized custody, users benefit from CoinFLEX’s impressive seven-year record in custody of crypto assets. This shows how seriously CoinFLEX takes security and gives users the peace of mind that their assets are safe from any threats from internal and external factors.
CoinFLEX is a major player in the Smart Bitcoin Money, or smartBCH, ecosystem, serving as the main centralized bridge before the commissioning of the decentralized “SHA Gate” solution.
smartBCH is a Bitcoin Cash sidechain that is designed to be fast and have low cost transactions. It is also EVM compatible, so it can bridge the Ethereum network and provide high throughput for decentralized applications in a fast, secure and decentralized manner. To explore in more detail how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.
To explore in more detail how to earn and trade crypto in the CoinFLEX ecosystem, check out www.coinflex.com.
Founded in 2019, CoinFLEX is the home of crypto yield and is committed to providing institutional and retail investors with an easily accessible platform to earn and trade cryptos.
CoinFLEX Creates Innovative Solutions To Bring Investors And Crypto Markets Together With Intuitive Yield Products Such As flexUSD, the world’s first interest-bearing stablecoin, and AMM +, the world’s most capital efficient automated market maker. CoinFLEX is backed by crypto heavyweights including Roger Ver, Mike Komaransky, Polychain Capital, and Dragonfly Capital.
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