OpenLeverage AMA recap hosts an AMA with OpenLeverage. #OpenLeverage #BNBChain #BSCDaily #AMA

Cryptodaily Admin: Hello everyone Welcome back to another AMA with BSCDaily! I’m your host Daley, thank you all for joining today’s AMA with OpenLeverage

I’m joined by Mr. Jackie – CEO and Co-Founder of OpenLeverage Hello there Jackie, why don’t you say Hi to the community!

Jackie: Hey guys~ Hello everyone here, it’s my honor to be invited here. Let’s start

Cryptodaily Admin: Alright! Whatever you need during the AMA, let me know!

Jackie: Thanks, all good, bro

Q1. Can you please introduce OpenLeverage and the problems you want to solve?

Jackie: Definitely. OpenLeverage is a permissionless margin trading protocol with aggregated DEX liquidity, enabling traders to long or short any trading pair on DEXs efficiently and securely. It allows anyone to create lending pools and margin trading markets, offer funds to borrow, and connect to decentralized exchanges to serve unmet needs in the unsatisfied market.

The problem we would like to solve:

Existing centralized exchanges and decentralized protocols are permissioned markets with substantial entry barriers and are very costly to use, while only providing minimal pairs and market depth. The permissionless nature of decentralized exchanges altered the landscape by allowing token listings at the cost of an on-chain transaction. These days, while many pairs are appearing on DEXs with promising liquidity and volume, it has been observed that a permissioned structure wouldn’t be able to serve this fast-growing and long-tail market.

Compared to other leveraged trading protocols that provide 20-30 mainstream pairs supported by a traditional order book model, we aim to support thousands of pairs across many DEXs and blockchains to help projects and DEXs improve volume and liquidity by providing lending and margin trading support.

Q2. Could you also give our community some recent updates on OpenLeverage?

Jackie: Yeah, sure. OpenLeverage launched on Ethereum in December 2021, onto the BNB Chain in February 2022, and most recently onto KCC this month. Since our BNB Chain launch, protocol adoption has been growing tremendously. We have surpassed milestones of more than $12 million TVL in 2 months and over $166 million trading volume. More importantly, we’ve been recently selected to participate in Binance’s MVB IV Incubation Program. You can check it out here:

Apart from this, we’ve instituted two community-based programs – our Invitation League and Referral Program – to reward community members. You can generate a referral link to invite your friends to join and trade, and you can get 25% of the reward your friends earn. Check it out here:

We’re also doing weekly trading contests and campaigns, along with introducing different projects to our communities through AMAs and collaborations that mutually benefit our projects and theirs.

Our online event, “Trade More For CAKE Holders” is an amazing opportunity to have fun while earning OLE tokens. We’re inviting PancakeSwap CAKE holders to try out margin trading and lending on OpenLeverage. Web3 addresses with any amount of $CAKE (snapshot taken on April 11, 2022 @ 12PM UTC) can enjoy the “Trade More for $CAKE Holders” Campaign:

Cryptodaily Admin: You are non-stop with these events There’s also an event called “trading and lending rewards”. Is that still in the running?

Jackie: Yes, it’s still running, all cake holders are welcome to try it and get rewards. We welcome 1million+ cake holder addresses to join us. We will launch other activities later on.

Q3. Security is the most important thing to consider when wanting to start a project, how safe is this project for users and investors?

Jackie: Security has always been our top priority throughout our product and technical design, and it can be a challenge to be completely open and safe at the same time. We finely define the boundary of risk, liquidity, and trading flow so we can have an open, safe, and optimal user experience at the same time. We have followed secure development best practices throughout our development. Our security review process includes a full-length audit from Certik and Peckshield. Check it out:

Besides that, We’ve most recently completed our 4th security audit with community-based auditing DAO-Code4rena.

So far, all security audits have returned with no critical vulnerabilities.

Cryptodaily Admin: And also! You’re having a Bug Bounty

Jackie: Yes, we do!

Our bug bounty

Q4. Could you please share your tokenomics with us?

Jackie: Yeah, of course. Firstly, I need to highlight that there’s no $OLE token sale yet, so please stay tuned to our official social channels. Add us on Discord, Twitter, and Telegram to stay updated.

We have a dual-token tokenomics design: $OLE is the native token that incentivizes protocol usage such as lending, trading, facilitating liquidations, and staking.Holders of $OLE tokens are encouraged to lock $OLE into time-weighted vote escrow in exchange for xOLE tokens.n xOLE holders have the power to vote or submit proposals in the OpenLeverage DAO governance process, boost earnings on incentivized lending pools, and have discounted fees on margin trades. Learn more from our blog post:

Q5. Would you share with us the future development plan of OpenLeverage?

Jackie: Sure. As the multichain permissionless lending and margin trading protocol! OpenLeverage will continue executing our multi chain strategy to deploy on Avalanche, Polygon, Fantom, and many other EVM-compatible chains, connecting to many decentralized exchanges like Uniswap, SushiSwap, PancakeSwap, MojitoSwap, and more, supporting thousands of pairs out there. From the product side, we will also extend our product offering, such as limit order for both spot and margin trading, to support any pair on any DEX and EVM-compatible chains.

Cryptodaily Admin: Thank you Jackie!

Cryptodaily Admin: With this we are now at the end of our AMA session with OpenLeverage

Time for wrapping up, any last words you would like to say to our community?

Jackie: Thanks for everyone’s time. Thank you Daley

Cryptodaily Admin: My pleasure! Thank you Jackie for this AMA with OpenLeverage! Check them out if you’re into trading Take care man!

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