By Hannah Perez
Pangolin announced a partnership with the Marginswap platform that will allow users to trade with leverage over the Avalanche
network for the first time.
In a blog post, the Pangolin team announced a new partnership with Marginswap
, a decentralized trading protocol that natively supports spot and cross-margin asset trading on automated market makers (AMMs).
With Marginswap, users can trade a wide variety of tokens, as many other existing protocols already offer, but with the advantage of being able to trade with leverage. The partnership makes Pangolin the first DEX on Avalanche
to offer leveraged trading.
– Pangolin ???? (@pangolindex) August 24, 2021
It should be noted that, in simple terms, leverage means trading with borrowed capital, allowing traders to trade more money than they actually have available. Margin, on the other hand, is the amount of funds needed to open and maintain a leveraged trading position.
DEX Pangolin partners with Marginswap
With this partnership, Pangolin
(PNG) users can now trade on margin and leverage on selected digital assets.
According to the information, the Marginswap app is currently active and successfully integrated with the Pangolin
platform. As a result, users can deposit their PNG, USDT.e, WAVAX and WETH.e cryptocurrencies as collateral to get leverage on their trades.
Marginswap also announced that it will be integrating its native token, MFI, with <a href=”https://www.diariobitco
in.com/glossary/avalanche/” target=”_blank” rel=”noopener”>Avalanche to enable liquidity providers to earn MFIs. The platform will also accept PNG deposits as collateral, which will generate MFI tokens. For its part, Pangolin will add reward pools for the MFI-AVAX pair for 1x leverage and the MFI-PNG pair for 5x leverage.
Marginswap’s founder, known under the pseudonym Dronoms, commented on the partnership, “The Marginswap team has been excited about both Pangolin and the Avalancheecosystem in general since the inception of our project.
We couldn’t be more thrilled to see this partnership come to fruition, which further reinforces DeFi’s splendid momentum in the case of Avalanche by combining the powers of lending and leverage trading with Pangolin’s deep blockchain liquidity.
Other decentralized exchanges, such as YFX, based on the Huobi Heco Chain and Tron blockchains, and DexMex, based on the Huobi Heco Chain and Tron blockchain, also offer leveraged trading. Uniswapbased DexMex, also offer leveraged trading.
DeFi flourishes on Avalanche
These latest initiatives come amid the recent flourishing of the network’s DeFi ecosystem. Avalanche. As such, one of the main propositions of this network is precisely to offer high scalability and low transaction costs, which is why its model especially targets the Decentralized Financespace.
The development team of Avalanche AVA Labs development team has been working over the last few months to present innovative interoperability tools in the space to help generate momentum in the Decentralized Finance space. Blockchainthat help build momentum for DeFi. Among the developments, recently <a href=”https://www.diariobitcoin.com/tecnologia/otras_monedas/avalanche/ava-labs-anuncia-release-of-new-bridge-between-avalanche-and-ethereum/” target=”_blank” rel=”noopener”>deployed a connectivity bridge with Ethereum, which allows communication and transfer between protocols that make life in both networks.
Sources: PangolinDEX.Medium, archive
Article by Hannah Estefania Perez / DiarioBitcoin
Image by Unsplash