YFX, the first decentralized exchange that offers 100x trading leverage on some derivatives, launched on BSC to help make the concept of De-Fi a reality.
BSC is among the world’s leading blockchain-based operating systems with less gas fee and high scalibility. Let’s take a look at the key features of the blockchain and the DEX that make the launch mutually beneficial.
YFX Help BSC Establish the Decentralized Internet
As a decentralized virtual machine, BSC entered the cryptocurrency market to help establish the decentralized internet. Dapp developers have relied on it over the years to create and use complex protocols through smart contracts.
However, decentralized futures have been performing worse than centralized ones, and this has been a major hindrance to its success. The launch of YFX on the public blockchains solves this since the DEX offers 100x trading leverage on perpetual contracts.
Centralized exchanges offer close to 100x leverage as well. However, most of the established DEXs like dYdX have been offering only 10x leverage. So, since the exchange offers an attractive package, it will complement BSC’s effort to help create the decentralized internet.
YFX’s Cross-Chain Trading Opens Up the Crypto Market
YFX has also introduced cross-chain trading that allows BSC to serve customers from other De-Fi platforms such as Heco Chain, BSC, BSC, and Ethereum.
BSC’s cheaper gas fees and faster transactions times could work in favor of the traders who take advantage of the cross-trading feature.
BSC’S transactions per second (TPS) is 4,000, meaning its throughput has surpassed Ethereum and Bitcoin.
YFX Ensures Easy Access and Privacy
YFX‘s easy access and privacy also indirectly contribute to the success of BSC. The exchange doesn’t require your personal identification details and trades 24/7. Besides, several renowned blockchain security institutions audit YFX.
BSC Increases the Value of YFX
Since BSC has a high throughput, users of YFX are assured of getting buying and selling their tokens on time.
BSC is a public blockchain, and, therefore, it offers unlimited access to all users. This transparent and decentralized nature of the platform is a catalyst for the adoption of YFX, as it has a similar mission. The users are guaranteed a better experience whenever they send and receive peer-to-peer payments.
BSC Improves the Adoption of YFX
BSC will highly likely help improve the functionality and increase the adoption of YFX. In the past, numerous limitations of blockchain have hindered many users from taking advantage of technology. The role of Ethereum as a token and Dapp platform showed scalability issues of public chains as seen in the December 2017 event when costs and transactions rose beyond expectation.
The good news is that BSC provides the required technical innovation. It uses technology like new consensus algorithms and sidechain, which has enabled it to achieve high scalability and throughput. YFX will benefit from this innovation.
BSC is a brand in the crypto industry that entered the market in about 4 years ago. Due to the launch, YFX team will reach out to many of the platforms customers and fans with much ease.
The Bottom Line
BSC is a popular public blockchain, while YFX is the first decentralized exchange that offers 100x trading leverage. So, the launch of YFX on BSC will most likely help each of them to help usher in the decentralized internet into new heights.