BracketX is a program that provides structured products for non-standard DeFi users as a standalone application.

BracketX simplifies leveraged strategies in DeFi by turning them into simple and straightforward win multipliers that can be purchased in a few clicks.

Bracket

Bracket is a product where the buyer receives a profit if the spot price of an asset falls within a specified range during the contract term. Bracket gives the buyer the opportunity to receive a fixed payout due to leverage without having to open a margin account or fulfill other requirements.

Brackets work well in high volatility environments when buyers believe the price will move up or down during the term. Buyers can take long or short positions and pay premiums for the contract.

Bracket order management

The Bracket protocol manages orders in the chain and determines which of the offers with the lowest price will be executed based on the following rules:

Filter orders by size: The minimum size must be greater than or equal to the maximum requirement amount needed to fulfill the purchase order.

Sort by time: FIFO based on the time of the last order (price) update.

• Order data is stored in the chain

• Displaying the order based on their GraphQL server and BracketX front-end, which will lag behind the smart contract by a few seconds

• The smart contract has no order management logic and needs to specify a specific Funder to be used for the match. This determination is made by our interface

BracketX NFTs

The Bracket Protocol mints ERC-721 NFTs for contracts purchased by Brackets and channel buyers. The NFT is a claim on the corresponding contract and is therefore non-transferable until claimed or expired.

Bracket Protocol uses the following NFT tokens:

• BXNFT (ERC-721)—each breakout contract has unique associations with an NFT, confirms ownership upon claim, and allows for peer-to-peer trading of NFTs after expiration

• CNFT (ERC-721)—each channel contract is uniquely linked to an NFT, confirms ownership during claims, and allows for peer-to-peer trading of NFTs after expiration

• ENFT (ERC-721) – Each channel contract is specifically tied to an NFT, confirms ownership when requested, and allows for peer-to-peer trading of the NFT upon expiration

Why choose Bracket?

Brackets have been specifically designed to have features that optimize them for the blockchain as the underlying infrastructure. TradFi, have features compared to DeFi which are as follows:

• Financial accountability

• Slow and intermittent communication

• Price manipulation

Bracket Labs believes that innovation is needed to address each of these challenges and has addressed them in the following ways:

• Provides a return on investment

• Reduces the need for constant price updates

• Does not require ownership of the underlying asset

Conclusion

BracketX is a program for DeFi users that provides structured leveraged products, turning them into simple win multipliers. It uses special NFT tokens for each contract, which become tradable upon expiration. BracketX offers innovative solutions to ensure financial accountability, speed, and ease of use for DeFi users.