Know Your Crypto Archives • SynQ

Category: Know Your Crypto

DeFi – FTX Exchange

FTX Exchange

Introduction

FTX is a crypto derivative exchange offering scalable futures, leveraged tokens and OTC trading for the DeFi market. The Hong Kong-based exchange was only launched in May 2019, but has grown to be one of the top five exchanges in traded volume and is quickly outpacing most competitors.

This growth could be attributed to the solid reputation the company has established for itself, even before its adoption of DeFi projects. As interests and competition in DeFi grew, FTX stood out from the competition due to their adaptability and innovation.

Alameda Research, the exchange’s primary market maker, is also a investor in the DeFi project, mStable, a stable assets swapping protocol. The company is also an active participant in the Defi ecosystem. Alameda has proposed and voted on several Compound governance proposals, in addition to playing a crucial role in enhancing the Balancer‘s protocol distribution mechanics.

FTX operates by tokenizing leveraged futures positions using a generated ERC20 token as representation, which can then be traded as a spot token. The token could additionally also be listed on other exchanges, allowing users to take on a leveraged position without personally managing the collateral themselves. But the appeal for users is the unique products available on FTX such as the MOVE indices, FTX leveraged tokens, or the Bitcoin Perpetual Futures.

The platform’s utility token is known as FTT, and holders receive additional benefits such as lowered FTX trading fees, OTC rebates, collateral for futures trading, and socialized gains from the insurance fund.

Source: The FTX Team is also developing the SERUM Exchange.

FTX Services are available globally, except in restricted countries such as the United States, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Antigua or Barbuda.

Fundamentals

FTT is currently trading at $3.45, with a marketcap of $329,344,002. The current circulating supply is 95,434,860 out of a total supply of 344,446,952 FTT.


Source: https://ftx.com/en/ftt

DeFi – Uniswap

Uniswap

Introduction

Without a reserve of capital, decentralized exchanges cannot be utilized to their full potential. Uniswap aims to provide this service by regulating token exchanges on the Ethereum chain using liquidity pools rather than traditional order books.

Liquidity providers who invested value into a pool will earn interests in proportion to their shares from the 0.3% trading fee that the pool generates. Anyone can contribute to an existing pool, or create a new one by supplying an equal value of both ETH and an ERC20 token. Funds can be deposited or withdrawn at any time.

Image

Source: https://twitter.com/UniswapProtocol/

The creator of the pool can set the exchange rate, which will be shifted through Uniswap’s “constant product market maker” mechanism for trading. When one side of the pair’s liquidity is reduced relative to the other, the price is automatically adjusted. This is designed to “create arbitrage opportunities, in order to encourage more trading”.

Fundamentals

Uniswap does not have a native token, but each liquidity pair is represented by a unique, transferable ERC20 “pool” token which users can use to swap between ETH and any ERC20 token. These tokens are created when funds are deposited into the pool and represents user’s share of the pool’s total assets. When funds are reclaimed, the associated pool tokens are burned.

Source: https://defipulse.com/

Source: https://uniswap.info/home

s01e03 – TAP Network’s Lin Dai in the Hot Seat!

Bitcoin selling down, Cardano fundamentals look strong, LINK is doing things, Nick Mancini sat down with Lin Dai from TAP Network, and more… on this week’s episode of Know Your Crypto!

s01e02 – Quantreq’s Alex Mascioli in the Hot Seat!

Enrique went to CIS, eToro partnered with TheTie, Nick Mancini sat down with Alex Mascioli from Quantreq, and more… on this week’s episode of Know Your Crypto!

[Pilot] – Featuring Cointelligence’s On Yavin

Welcome to the first of a few brand new shows from SynQ I/O! Know Your Crypto will introduce various players in the cryptocurrency market in the KYC:Hot Seat, discuss trending topics, and dip into what makes this space tick.