A New DeFi Product Simplifying Leveraged Margin Trading

Place/Date: - December 17th, 2021 at 12:23 pm UTC · 4 min read
Source: Ooki

A New DeFi Product Simplifying Leveraged Margin Trading
Photo: Ooki

With Ethereum prices recently reaching all time highs, many newcomers are being drawn to Ooki, the newest DeFi protocol, in search of new ways to maximize returns by utilizing margin trading with leverage.

What Is Ooki?

Ooki is a permissionless and multichain leveraged margin trading, borrowing, and lending platform that allows anyone to trade up to 15x leverage on certain stablecoin pairs. Ooki is not a centralized exchange like Binance, Coinbase or KuCoin. These centralized exchanges all require users to sign up, set a password, deposit funds, and even complete KYC.

Instead Ooki is a fully decentralized non-custodial protocol. Ooki users retain custody of their funds. Smart contract lending pools enable counterparties to be programmatically encoded reducing the risk for theft of funds. As a result anyone with a web3 enabled browser can self custody their funds and easily take advantage of web 3.0 and DeFi. Retail investors previously were restricted to using brokerage accounts or relying on individuals with specialized knowledge.

Below are a few unique features which set Ooki apart from other DeFi margin trading platforms.

Where Is Ooki Deployed?

Ooki is already deployed on Ethereum, Polygon, and Binance Smart Chain with plans to launch soon on Arbitrum and Optimism for low cost and fast confirmation layer 2 trading. Ooki relies on industry leading Chainlink oracles and Chainlink Keepers for accurate price data and liquidation executions. The fees on these L2 chains are a fraction of the fees on ETH mainnet and as a result trading can be more profitable for traders.

Simplifying Leveraged Margin Trading for the Masses

Leveraged margin trading can be intimidating for users who are new to DeFi and crypto more generally. Most DeFi trading products are geared towards advanced and professional traders. For most people, these interfaces are intimidating and confusing. With Ooki, DeFi is accessible through a simple and intuitive interface that anyone can understand and use.

Permissionless Listings

Most existing decentralized leverage trading protocols provide only minimal trading pairs, however when Ooki launches Permissionless Listings next year users will soon be able to add any trading pair to leverage trade on the platform. This important feature greatly expands the number of tokens available for users to trade.

Competitive Lending and Borrowing Rates

In addition to a powerful margin trading platform, Ooki also offers the ability for users to engage in non-custodial borrowing and lending pools to facilitate flexible and secure lending for leveraged trading. When lending out funds, lenders can earn a variable APY return in exchange for lending out to borrowers.

Ooki supports dynamic and competitive interest rates based on the pool of available lending assets and demand from borrowers. Additionally, anyone can participate in liquidation auctions to purchase liquidated collateral by calling the Liquidation function.

Limit Orders

Unlike most other DeFi margin trading platforms, Ooki is preparing to release a pro trading interface featuring a decentralized order book with limit orders and stop losses. Other DeFi margin trading platforms claim to offer decentralized orders, however in reality they are often not truly decentralized order books.

Deep Liquidity

Access to deep liquidy gives traders better rates, prices, and the ability to open larger trading positions. In order to ensure that users always have minimal slippage and access to the best liquidity pools, Ooki will be launching a Curve Factory Pool of wrapped stablecoins together with Votium Bribes in order to incentivize liquidity providers to add liquidity to the platform.

Ooki DAO

On Ooki, power is shared by all and incentives are aligned.This is because the protocol is community run through the Ooki DAO and community voting. Ooki token holders can stake their OOKI tokens and earn a portion of the fees generated by the platform as well as participating in network governance through the Ooki DAO, Forum and Snapshot voting interface. This results in anyone being able to give their input in order to shape the future direction of the platform. Various ecosystem parameters can be decided on by the community. As the governance process formalizes and evolves, these parameters will grow. A few examples:

  • Funding proposals
  • Fee proposals
  • Token proposals
  • Ecosystem parameters
  • Marketing initiatives to grow user base

Summary

Ooki is a fully decentralized, non-kyc and non-custodial margin trading platform. It offers a simple and powerful tool for DeFi newcomers and pro traders alike to perform DeFi margin trading, borrowing, and lending all from a simple user interface. It is continuing to improve with many new features planned to be released over the coming months to enhance user experience and to maintain a strong competitive position in the market.

About Ooki

Ooki is a powerful and fully decentralized margin trading, borrowing, and lending platform with a ton of features.

Ooki socials: Twitter, Blog, Telegram Announcements, Telegram Channel, Discord, Docs.

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