GM UniDex traders!

We have officially deployed the leverage protocol and its supporting functionality on Optimism. Traders right away can access their favorite pairs they’ve enjoyed on other platforms, but now in a single place on Optimism.

How does this differ from the Fantom deployment? Well, Optimism is an L2 for ETH. Generally, this will mean the speed at which our keeper network is able to confirm transactions should be significantly faster. Fantom is plagued with intense gas wars between other users, but Optimism sees consistent transaction confirmation speeds regardless of activity on-chain. This means faster trade settlements, the same low fee costs, and an overall better trading experience.

Optimism Deployment

Starting off, we’re opening up a DAI vault for stakers to pool money to serve as the counterparty to all trades on the platform. At a later date, we’ll also open up a USDC & sUSD 3pool to allow users to pool any of these 3 stables & allow trades to execute against any of these stables.

Pooling is not risk free and is subject to negative APR through net positive trader PnL. However, as platforms like GMX, GNS, SNX, and many others have shown. We believe the model is good for the short and long term. We’ve also been live on the Fantom network for over 8 months and have generated more than 500m in volume. We’re excited to bring this to Optimism users to show what our platform is capable of compared to others in the ecosystem.

Traders will have access to quite a wide range of trading pairs including forex, crypto, ETFs, and commodities like metals. Each pair has its own dynamic spread that you can see on the UI & variable interest rate for taking on positions. We’re always open to suggestions on new trading pairs so make sure you stop by our discord and let us know what you want to see!

Spot platform

Of course, we cannot forget about our superior meta-aggregator which is also deployed on Optimism. We aggregate other aggregators on the market to ensure you are swapping at the best rate 100% of the time. You can see here you can save more than 0.03% over your other favorite aggregators and you wouldn’t know! Maybe 1inch isn’t going to have a better route in the next minute, but UniDex has you covered!

Our initial deployment will support aggregation through 1inch, Kyberswap, Paraswap, 0x, and OpenOcean. More will be added into routing as more enter the Optimism ecosystem.

Misc updates

Our trading competition dashboard got a makeover + multiple highly requested features.

We now show positions much more clearly and show the current uPnL for each position. We hope this can allow people to judge how they want to play the market while also giving more transparency to poolers. This information is fetched directly from our subgraph which anyone can deploy themselves and verify.

We also now show ENS names for users that have set one over on the Ethereum network. Hovering will let you see the address and copy either address as well.

Trading Competitions & Wrap up

We’ll be doing our first 14-day rolling trading competition on both Optimism and Fantom. Traders need just to use the platform, and the trader with the largest PnL (viewable by the dashboard) will be rewarded 2.5k USDC for the best trader on FTM & 2.5k DAI for the best trader on Optimism. We’ll be a lot more “loud” with this announcement shortly after this post to get some engagement going.

We hope you enjoyed this short update & will enjoy using the protocol on Optimism! We have a lot more stuff releasing in the short term like new limit order functionality and cross-chain trading. For those that made it to the bottom, keep being sexy 😎.

Quick Links

Discord invite link — https://discord.gg/unidex
Twitter — https://twitter.com/UniDexFinance
Telegram Group — https://t.me/unidexfinance
Telegram Announcement channel — https://t.me/unidexapp
Website -https://www.unidex.exchange/
Leverage Terminal — https://www.leverage.unidex.exchange/
Business Inquiries — marketing@unidex.finance