bZx to Bring Decentralized Margin Trading & Lending to Avalanche
bZx will launch its flagship platforms on Avalanche, leveraging its low fees and high capacity
bZx is integrating Avalanche to bring decentralized margin trading, borrowing, and lending to Avalanche’s DeFi ecosystem. Upon completion (set for Q1 2021), bZx applications will work seamlessly on Avalanche, enabling a new wave of growth for the bZx protocol by taking advantage of Avalanche’s low fees and high capacity.
DeFi solutions like borrowing and lending are highly sought after functions of finance. According to DeFi Pulse, the top 3 out of 5 DeFi apps ranked by total value locked are lending apps. It’s clear that these financial primitives are in demand. Unfortunately on many blockchain platforms, this demand is too much to handle leading to unsustainable transaction fees.
bZx: New Opportunities for 2021
In the coming weeks, bZx will unveil a rebrand and refreshed vision. Its flagship platforms, Fulcrum and Torque, will launch on Avalanche, enabling a better user experience and performance enabled by Avalanche’s infrastructure.
Fulcrum enables users to collect interest by lending assets and enter into tokenized long or short positions at up to 5x leverage. Torque is a DeFi platform for borrowing assets instantly, with indefinite-term loans and fixed interest rates.
bZx is currently the only lending protocol to use decentralized price feeds for calculating interest rates. The integration of CHI ensures bZX gas fees on the platform don’t increase as more assets are supported.
The expansion to Avalanche will enable bZx to take advantage of Avalanche’s decentralization, open-source architecture, high-performance, and low fees. Avalanche consistently finalizes transactions in less than a second, for fees under a cent.
“Our proliferation to other chains like Avalanche is an encouraging sign of the maturity of the protocol and growth of our developer community,” says Tom Bean, the Co-founder of bZx.
We’re finalizing details for an Ava Labs team member to join an upcoming bZx governance call to discuss the integration further. Stay tuned for more updates on that call, bZx’s new brand, and the upcoming launch on Twitter @AvalancheAVAX & @bZxHQ.
Additional Resources on bZx
- Margin Trading with Fulcrum
- Step-by-step guide to Torque
- What does BZRX do?
- Staking with BZRX
- Security of the protocol
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
bZx to Bring Decentralized Margin Trading & Lending to Avalanche was originally published in Avalanche on Medium, where people are continuing the conversation by highlighting and responding to this story.