Logium goals to unravel the issue of decentralized finance and open the free market of derivatives. It claims to be the primary platform that permits customers to go lengthy or quick on any token on Uniswap.
With Logium, you’ll be able to wager with different customers on whether or not the token will go up or down in worth and use a multiplier to foretell the longer term worth. Logium at present provides new tokens every day from Uniswap, and you may keep up to date on new additions by following their official Twitter Profile.
The platform is absolutely clear and doesn’t maintain any consumer belongings; subsequently, you’ll be able to relaxation assured that your funds are safe. To learn additional on Logium’s safety audit, observe this hyperlink.
How does Logium work?
It’s fairly easy to take bets on Logium. The P2P betting system permits customers to make use of leverage and commerce over 500 belongings on Uniswap by taking each lengthy and quick bets on leverage.
To take part, you’d first want to attach your pockets with Logium. The present pockets supported is Metamask, however different wallets will probably be accessible quickly, similar to Pockets Join, Coinbase Pockets, Formatic, and Portis.
As soon as your pockets is linked, merely select any token you want to wager on; at present, customers can wager on ten tokens, together with ETH, BTC, SHIB, HEX, APE, and so on.
Customers can select a wager that already exists on the checklist or just create a brand new likelihood. Professionally known as “choice” or “place,” the “wager” is a peer-to-peer settlement between two customers in regards to the future value of any ERC20 asset.
Just one consumer that’s proper in regards to the value prediction will earn 100% of the opponent’s wager. These transactions are settled for a hard and fast period of time which could be as much as 1 hour, 6 hours, in the future, seven days, or 30 days.
All bets on the platform are secured by USDC deposits that the customers make. Logium has solely ten listed tokens on the beta part; nonetheless, they want to decentralize the method of itemizing extra belongings sooner or later. This may make give the customers the facility to determine which tokens are listed.
Putting bets doesn’t incur alternate charges, besides the same old Ethereum community charges. After the wager is settled and brought out of the prize pool to the winner, Logium will get a small charge.
Issues that Logium goals to unravel
Logium is contributing in direction of fixing many points at present in crypto. Customers can now bypass KYC and take quick and lengthy bets on any token outdoors of a centralized trade.
Liquidity is not a problem as customers can take singular bets for every token on Uniswap even when liquidity is low.
Customers can even quick any token of their alternative in the event that they don’t consider in the way forward for that token. Prime examples are individuals who don’t consider in the way forward for meme cash, similar to Shiba, Doge, and others. Now they will simply “take bets” and quick them utilizing Logium.org.
Novices and rookie merchants can even be capable to commerce with out committing actual cash on the platform.
At Logium, customers commerce immediately from their decentralized wallets, eliminating the “not your keys, not your cash” downside.
“When buying and selling on CEXs, you don’t have 100% management over belongings; with us, you do.”
Logium is lately partnered with StudentCoin (STC), a crypto platform that permits customers to design, create and handle private start-up NFT simply and Defi tokens. STC assists Logium with technical and enterprise improvement expertise and advertising and marketing help. Scholar Coin can have a share on Logium’s income, which can then be thrown into an STC token buy-back from the market.
How will Logium maintain up throughout market volatility?
Logium has the potential to carry out regardless of market circumstances. Customers can revenue from the volatility of crypto belongings, permitting customers to reap the benefits of crypto’s volatility.