If you have lingered about in the cryptocurrency space for a while, you will be familiar with some of the problems associated with Decentralized Exchanges (DEXs).
Decentralization is unquestionably a prominent trend in global financial systems. The introduction of DeFi has altered how people and institutions view finance. We have seen many significant developments in financial technology, from the advent of cryptocurrencies to the entrance of decentralized exchanges.
There is no disputing the fact that decentralized exchanges are a welcome solution in the very imperfect financial system of today’s world, but they have been associated with some faults. There has been the problem of security risks, lagging and delays in placing orders when the market is big, liability risks, and credit trouble. Understanding the dangers involved with decentralized exchanges might help identify areas where improvements can be made. This is why a top-notch project called Oval Exchange is putting together a beautiful DEX; one that is reliable and super-efficient.
Oval Exchange: The Next-Gen Cross-Chain Protocol Decentralized Exchange
With the crypto community’s increasing use and trade volume in Decentralized Exchanges (DEXs), the clamor for dependable DEXs has attained an all-time high.
The number of exchanges available in the crypto-asset market has indeed significantly increased. Unfortunately, existing exchanges are still unable to meet the needs of traders. To fulfill the demand for derivatives trading, the trading industry requires a more competent, fair, and transparent decentralized exchange — this is where the Oval Exchangecomes in!
Oval Exchange is the future of crypto exchanges. It has created a system that satisfies the demands of traders in all areas, fits the demands of cross-chain DeFi, and totally and utterly surpasses CEX, thereby assisting the trading industry to develop more equitably.
The Oval Exchange places a high value on fairness and ensuring that data asset positions are visible on the chain, rather than just visible to a select few and used to exploit the market. Oval Exchange’s primary goal is to assist in providing users with a faster and more efficient trading
experience. To accomplish this, Oval Exchange intends to build the most powerful decentralized derivatives exchange on Binance Smart Chain to address issues such as high transaction fees and low trading efficiency that plague ETH networks.
Oval Exchange’s Working Mechanism
Oval Exchange has a distinct structure that it hopes will set it apart from other exchanges. It runs on the BSC network, which was chosen specifically to provide a low enough threshold for regular users to actively engage easily regardless of capital. Choosing the BSC network was also a strategy to save money on the expensive Ethernet GAS. This was a conscious strategy, as the Oval Exchange team conducted a detailed analysis of the Layer 2 mechanism before wrapping up the exploration of the order mechanism on the BSC network.
Congratulations to the Oval Exchange team for developing a millisecond-level order market. Oval Exchange has indeed been able to satisfy the needs for prompt aggregation of the least slippage at market price by utilizing the off-chain and on-chain aggregation mechanisms on the BSC network.
Recognizing the importance of liquidity, Oval Exchange has collaborated with a plethora of the cryptocurrency industry’s foremost API market makers to offer liquidity support on par with any exchange. To provide the finest trading experience for both traditional financial and general users, the Oval Exchange employs the order book method and limits order functions. It is a truly revolutionary exchange.
Rules Guiding the Oval Exchange Platform
● Taker: 0.0700%
When a user places an order that is instantly filled in its entirety (for example a market or stop order) that user is referred to as a “taker,” and must pay a “taker” fee for this.
● Maker: 0.0200%
When a user places an order that does not fill instantly (like a limit order), that user is referred to as a “maker”. Makers usually pay a discounted “maker” fee for this.
Quarterly futures lapse, whilst the perpetual futures receive funding payments every eight hours.
Long positions pay funding to short positions if indeed the perpetual is trading at a premium to the underpinning index.
Short positions pay funding to long positions if the perpetual so far has been trading at a reduced rate to the underlying index.
Oval Exchange’s Team
Chief Executive Officer- Owen
Chief Marketing Officer — Angel
Chief Operations Officer — Leonard
Chief Technical Officer — Sousa
Oval Exchange’s developed plan is straightforward. It entails the addition of new features as well as the availability of as many trading pairs as possible. Here is the Oval’s roadmap, according to oval.exchange:
● Oval V1 Launch
● Users can trade perpetual contracts in Oval Exchange V1 at Binance Smart Chain
● Oval V2 Launch
● Support Ethereum network
● 10+ trading pairs online
● Oval V2 provides extreme capital efficiency by supporting several key new features, such as stop loss, take profit, and liquidity-providing.
● Layer 2 — Polygon integration
● Oval will expand to Polygon to scale up our implementation and provide users with a real DeFi derivative solution without burdening users with high fees or long confirmation times.
● Provide secure futures trading services with up to 120x leverage.
● 20+ trading pairs online
● Avalanche network support
● 50+ trading pairs online.
● The function of merge and split position modes
● Support Isolated Margin Mode and Cross Margin Mode
The primary token of the Oval Exchange is $OVAL. A total of 10,000,000,000 OVAL will be minted. The allocation of the total supply of OVAL is as follows:
● 80% will be allocated to the Oval community; unlocked for over 2 years. (25% for oval staking rewards);
● 10% will be allocated to the treasury and developers; unlocked for over 2 years; ● 5% will be set aside primarily for Marketing & Partnerships (including KOLs, exchanges, and media)
● 5% will be allocated to the Initial Farm Offering (IFO)
Oval Exchange’s Website
Read up all you need to know about Oval Protocol, get started with this amazing tool just by visiting the Oval Exchange’s website.
Oval Exchange’s Telegram Community
Join the discussion and connect with more Oval Exchange users on the Oval Exchange’s Telegram page.
Oval Exchange’s Medium Page
Read up all you need to know about Oval Exchange on Oval Exchange’s Medium Page.
Oval Exchange’s Twitter Page
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