Overview Spin (SPIN) – DeFi infrastructure platform on NEAR Protocol

Spin . project overview

What is Spin?

Spin is a DeFi derivative infrastructure built on top of NEAR Protocol, a trusted and scalable layer 1 solution. The on-chain order book solution developed by Spin will give DeFi users the same experience as using CEX.

Spin’s infrastructure is based on an order book model that opens the door to a wide variety of assets with varying degrees of complexity in the DeFi space including unlimited futures and perpetual futures. precious, but also other types of futures contracts.

Highlights of Spin

Spin is a tool for both experienced traders and newcomers to the markets. Spin is appreciated for its new user-friendly UI/UX interface and is a platform that meets the needs of professional traders.

The project allows users to trade derivatives such as futures and options on a decentralized exchange with an order book featuring proprietary risk management tools.

Users can easily access liquidity for trading. Besides, it is possible to profit from the market-making mechanism developed by the Spin team.

Users have access to a portfolio builder to project their profits and losses, and even perform simulations of futures positions allowing for safer trading and easier.

Features of Project Spin

Central Limit Order Book Model

Spin uses a private pool of assets, the liquidity will be brought from the market maker to the order book. Therefore, traders always have enough liquidity to easily trade and make profits based on the market formation mechanism developed by Spin.

Spot Trading – Spot trading

The current version of Spin spot DEX on NEAR is the first order book implementation that supports on-chain matching and NEAR wallet connectivity.

Spin also offers users the opportunity to do an instant token swap at market price with a single click. Spin boasts lower fees compared to other AMMs.

Perpetual – Perpetual Contract

Spin offers a decentralized way to trade perpetual futures contracts meaning traders do not need to depend on centralized exchanges and trust their coins to a single entity. best. Instead, funds are stored on the user’s wallet, e.g. NEAR Wallet. Spin perpetual contracts will support leveraged trading, cash payments, and multi-collateralized features.

Option – Option

Spin’s goal in developing options trading is to provide a decentralized platform for trading operations and to ensure a convenient and easy-to-use block base for proficient, expert traders. and also new traders. Spin will support partial reconciliation for options trades.

Basic information about the SPIN . token

Specifications of the SPIN . token

• Ticker: SPIN
• Blockchain: Near Protocol
• Token Standard: NEP-20
• Contract: Updating
• Token Type: Utility, governance token
• Total Supply: Updating
• Circulating Supply: Updating

Distribution of SPIN . tokens

Updating …

Uses of the SPIN . token

Administration

SPIN token holders can participate and direct the project development by voting, as well as making proposals.

The governing elements in the proposals that can be voted on are as follows:

• The use of insurance funds,
• Distribution of trading commissions

Functions of the SPIN . token

SPIN Stakeholders will get:

• Reduce costs when using services on the platform
• Raised the value of leverage
• Join incentive programs.
• It takes users 14 days to withdraw tokens from the staking platform.

Collateral

SPIN token holders can use their tokens as collateral for trading assets.

At the beginning of this period, only over-collateralized was allowed to guarantee invulnerability to market manipulation and protect user funds.

Where to buy, sell and own SPIN . tokens

Currently, the SPIN token is not open for sale at any CEX or DEX, users need to carefully check the information before buying the token to avoid being scammed.

Spin . project development roadmap

In 2022, the project has the following development plans:

Q1/2022:

• Spot Order Book DEX (Testnet)

Q2/2022:

• Spot Order Book DEX (Mainnet)
• Token Swap

Q3/2022:

• TGE
• Staking
• On-Chain Perpetual Futures – On-chain perpetual futures contract

Q4/2022:

• Multi-Collateral Perpetual Contracts – Multi-collateral perpetual contracts
• Liquidity Mining & Trading Rewards System – Liquidity Mining & Trading Rewards System
• Liquidity Pools

By 2023, the project has the following development plan

The 1st quarter:

• On-Chain Power Perpetuals
• On-Chain Everlasting Options

Q2:

• On-Chain Floor Perpetuals
• Spot Portfolio Management

Q3:

• Lending and Borrowing

Quarter 4:

Main development team

Updating …

Investors and development partners

Projection on GMX project, should invest GMX token or not?

Spin is the first leveraged and futures trading infrastructure development project on the NEAR Protocol ecosystem. This has the potential to expand a niche on NEAR’s ecosystem, as well as the potential to invest in an ecosystem-led platform. However, SPIN still has not completed the roadmap without tokens, and the contract trading functions are still incomplete, so investing in the project is also risky, users need to be careful before submitting make your investment decisions.Through this article, you have somewhat grasped the basic information about the project to make your own investment decisions. CHK is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.