NEX Market

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Decentralised Perpetual Trading Platforms like $GMX & $GNS have had a lot of success since they're situated on popular chains like #Arbitrum, #Avalanche, and #Polygon respectively. However, there hasn't been much talk about Perps platforms on #Aurora & #Optimism.. 🧵

Disclaimer __ This thread is sponsored by @nex_market, I have been paid to test & review their platform. In return, I have promised to give honest feedback on my findings. I do not hold their native token $NIT at the time of writing. Please DYOR after reading this thread.

NEX is a Decentralised Perps Platform that supports leveraged trading of $BTC, $ETH, $OP and $NEAR. You can employ a leverage of 1.1x up to a maximum of 50x. Similar to $GMX on #Arbitrum, NEX uses the same model for pricing & liquidity.

NIT __ Liquidity Providers can earn #RealYield by depositing $BTC, $ETH, $OP or $USDC. In return, they will mint $NIT (Nex Index Token) which accrues 70% of protocol fees ( ~69% APR at the time of writing). This is paid weekly in $USDC. NIT is weighted 20-20-20-40 respectively.

NIT holders act as the counterparty of traders, profiting when traders lose. Naturally, this means that they will lose when traders profit. However, the 90/90/90 rule of the industry dictates that 90% of traders lose 90% of their capital within the first 90 days.

This means that $NIT could be a great hold if you're optimistic about the general landscape of Crypto (i.e. you expect $BTC, $ETH and $OP) to appreciate whilst capturing yield generated by the protocol.

NEX Bridge __ After a successful launch on #Aurora, NEX have recently deployed on #Optimism. They're building the NEX Bridge which aims to maximize the utilization of the NIT Pool by facilitating the management of liquidity of multiple chains from one vault. #Arbitrum soon? 👀

FX __ Alongside the NEX Bridge, they're looking to support FX Trading soon too. The Foreign Exchange Market is the largest financial market on the globe that turns over trillions of dollars per day. By tapping into this market, they open doors to many FX Traders like myself.

Hybrid Perpetual Platform __ NEX seeks to build a Hybrid Perpetual Platform by combining & integrating the advantages of liquidity provided by NIT and an Orderbook. This synergy unites the advantages provided by CEXs & DEXs, improving the user experience for all traders.

Links __ Twitter: twitter.com/nex_market @nex_market Website: nex.market/ Docs: docs.nex.market/nex/ Audit: docs.nex.market/nex/ecosystem/audit