OpenLeverage Launches Mainnet on Ethereum

OpenLeverage has introduced that it’s going to retroactively reward the neighborhood primarily based on protocol utilization to encourage neighborhood participation. The reward will likely be in OpenLeverage’s native $OLE token.

OpenLeverage permits anybody to create a pair of lending swimming pools that helps margin buying and selling for particular pairs on DEXs. It really works by introducing OnDemand Oracle, which depends on time-weighted common value (TWAP) offered from DEXs to guard positions from value manipulation and flash mortgage assaults whereas enabling lending and margin buying and selling for arbitrary pairs with adequate liquidity. The lending swimming pools are remoted between markets and additional protected with built-in insurance coverage, compensating lenders if insolvency happens.

AMM-based DEXs are thriving ecosystems which have supplied permissionless spot buying and selling for communities and have been rising steadily, even throughout non-EVM-compatible chains like SOL. On the identical time, a whole lot, if not 1000’s of pairs natively traded on DEXs are nonetheless lacking help for margin buying and selling and lending. With the introduction of the OpenLeverage protocol, communities will entry margin buying and selling and lending help for his or her token pairs and improve the buying and selling quantity and depth of the liquidity swimming pools on DEXs.

At launch, the OpenLeverage protocol will likely be deployed on the Ethereum mainnet, integrating with Uniswap V2 and V3. In response to the crew, “OpenLeverage will quickly have multi-chain and layer-2 deployments to BSC, Avalanche, Polygon, Solana through Neon Lab, and Arbitrum, integrating to DEXs, together with Pancakeswap, Sushiswap, Dealer Joe, together with extra choices sooner or later.”

At press time, over 57,000 distinctive addresses have accessed OpenLeverage’s Testnet, with over 173,000 transactions processed from 260 markets and greater than 36,700 lively positions.

Earlier this yr, OpenLeverage closed an oversubscribed seed funding spherical led by Signum Capital and LD Capital. The seed spherical additionally noticed participation from different notable buyers, together with FBG Capital, Proceed Capital, and YBB Basis.

OpenLeverage has accomplished audits with PeckShield and CertiK. 

To study extra about OpenLeverage, please go to https://openleverage.finance.