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Leveraged Tokens
brought to you by the X2 protocol by XVIX
Leverage Tokens are a quick and easy way to gain exposure to multiple markets with and without leverage. These tokens can resemble ETF's found in traditional markets like TQQQ which provides 3x the return of QQQ ( Nvesco QQQ Trust Series 1 ). Another great example can be SPXU ( ProShares UltraPro Short S&P 500 ETF ). The protocol is fully decentralized while having special characteristics such as front running protection and adjustable market demand leverage. Simple Scenario
The price of ETH/USD is 1000
  • Alice mints 20 10X BULL ETH/USD tokens for 20 ETH
  • Bob mints 20 10X BEAR ETH/USD tokens for 20 ETH
The price of ETH/USD increases by 1% to 1010
  • Alice would still have 20 10X BULL ETH/USD tokens
  • Bob would now have 18 10X BEAR ETH/USD tokens
Alice's position doesnt increase because of front running protection which requires 1 price update in order to sell and redeem the tokens back to ETH at a 1:1 ratio. To quote the xvix documentation page which can be found here on leverage decay " Similar to FTX's leveraged tokens, gains and losses are compounded. If you buy 20 10X BULL tokens and the price increases by 1%, your profit would be +10%. If the price increases by another 1% your profit would be +21%. The opposite would happen for losses where a sequence of two 1% decreases would lead to a loss of 21%.
Another case to consider would be if the price moves 1% in favour of your position and 1% against your position. On the first move your profit would be +10% and your position size would now be 110% of your initial capital. On the second move your loss would be 11% because of the increase in your position's size."

Leverage

UniDex aims to bring a wide range of assets onto the platform with or without high leverage. The X2 protocol uses a target leverage system that adjusts the leverage of bull and bear tokens based on the ratio of bull to bear tokens. This incentives traders to take positions against the trade while also being able to stake bull and bear tokens to receive payout to cover downside loss while in a minority position. ETF's tradable
UniDex aims to bridge the gap between traditional financial markets and centralized exchanges and provide a welcoming experience into DeFi. Here is a short list of tradeable ETF's on UniDex.
Crypto Fiat Pairs
ETH Pairs
Forex Pairs
Index's
Unique's
Stocks
Commodity
ETH/USD
DAI/ETH
EUR/USD
sDEFI/USD
30sec Gas Fees/ETH
APPL
WTI/USD
BTC/USD
USDC/ETH
AUD/USD
sCEX/USD
Top 10 MC/USD
TSLA
XAU/USD
LINK/USD
LINK/ETH
GBP/USD
TotalMC/USD
Top 11-100 MC/USD
AMZN
XAG/USD
SNX/USD
ZRX/ETH
JPY/USD
N225/JPY
COMP/USD
BTC/ETH
FTSE/GBP
Volatility Index/USD
DASH/USD
KNC/ETH
SPX/USD
LTC/USD
BAT/ETH
NJI/USD
ETC/USD
AAVE/ETH
BCH/USD
LRC/ETH
XRP/USD
MKR/ETH
EOS/USD
MANA/ETH
KNC/USD
REP/ETH
XMR/USD
SNX/ETH
BNT/USD
REN/ETH
SXP/USD
ENJ/ETH
TRX/USD
UNI/ETH
UNI/USD
ORN/ETH
XTZ/USD
CRV/ETH
DOT/USD
BNT/ETH
BNB/USD
YFI/ETH
OXT/USD
CRO/ETH
ADX/USD
DMG/ETH
YFI/USD
RCN/ETH
REN/USD
BZRX/ETH
FNX/USD
WOM/ETH
AAVE/USD
NANO/USD
SUSHI/USD
ADA/USD
DOGE/USD
Most if not all of these assets will be tradable when our X2 integration goes live while able to run effective inverse contracts. We are working with and together with ChainLink to provide a safe and reliable oracle for data feeds. Users can use snapshot to vote on pairs users want to see added. Uniswap pair support will be added eventually however with a larger deviation and delay to prevent liquidation attacks and manipulation.
Other integrations include protocols like tokensets, Reef baskets, and one other protocol we cant name just yet. These play by their own rules however play very similar with the same end goal and will have updated information when these integrations do go live.
Last modified 7mo ago
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