TripleFi today announced from Twitter that the new derivative DEX will launch on Polygon in 2 days. By deploying on this active chain, TripleFi will be available to more than 120 million unique addresses and 500 thousand daily active addresses on Polygon.
The initiative to launch on Polygon, which is the leading platform for Ethereum scaling and infrastructure development, is to enhance the performance of the new derivative DEX.
“With high-performance and low-cost nature of Polygon network, TripleFi is able to expand the boundaries of derivative DEX with price feed updating in seconds, ” says Hans, TripleFi Head of Product. “Derivative DEX needs price feed with low latency. Polygon is the suitable solution to increase the performance without sacrificing decentralization.”
Regarding to launching, the team seems to be optimistic about the growth of TripleFi, even though the cryptocurrency market remains lack of upward movement in price in the last 3 months.
“Derivative DEX market size has been in the spotlight in 2021 with a market growth of more than 100 times. We have to leverage the opportunity in this market with unbelievable potential,” says Gary Lau, TripleFi Head of Growth. “Derivative trading is demanding in both bull and bear market because traders can choose to long and short. When the volatility decreases, DEX with leverage will become even more popular. We also introduced new innovations including net position mechanism and automatic spread adjustments to enhance the trading experience and liquidity pool returns. The token distribution to the community will also serve as a key for market growth.”
The token plan is not yet disclosed by the team but the suggestion is to get subscribed and join the community to follow. Currently the derivative DEX market is dominated by dydx, on Ethereum chain, with nearly half of the market share. With the growth of derivative DEX markets, more builders like TripleFi will join the competition and the reward is remarkable.
Source : https://www.newswire.com/news/triplefi-a-new-derivative-dex-supporting-25x-leverage-to-launch-on-21636053
- United States