Interfinex — simple and innovative way to swap any ERC20 token into another and pay a negligible fee on all trades
By: Victor Osibajo
Tags: Defi, Interfinex, Swap, Eth

Interfinex — simple and innovative way to swap any ERC20 token into another and pay a negligible fee on all trades Victor Osibajo Dec 6, 2020·4 min read

The fate of cryptocurrency exchanges appears to be moving towards decentralized exchanges gradually and it is suggested that it might replace the centralized exchanges one day based on the belief of the crypto family. The daily and monthly trading volume of one of the decentralized exchanged uniswap has exceeded one of the popular pioneers centralized exchanges Coinbase Pro since September year 2020 and still maintaining the momentum.

One major shortcoming about the centralized exchanges is that once they take away your coin’s custody, you are no longer in control and remember the popular saying, not your key, not your money and once a hacker gets hold of the private key to any exchange or able to hack there way into the administrative privilege, they can wipe out users’ funds. Billions of dollars have been lost since the inception of blockchain revolution through this medium. Other areas are as enumerated below:

Insecurity: Due to the nature of centralized control, there is a high risk of fund loss and thefts since they are custodial of users’ funds.

Due to the nature of centralized control, there is a high risk of fund loss and thefts since they are custodial of users’ funds. High risk: market manipulation, latency problem and other problems when it comes to dealing with large volumes are characterized as a deficiency to centralized exchanges.

market manipulation, latency problem and other problems when it comes to dealing with large volumes are characterized as a deficiency to centralized exchanges. Lack of transparency: Centralized exchanges can perform illegal activities such as front-run orders, volume manipulation and liquidate users based on the orders submitted.

The Decentralized Exchange

The decentralized exchanges are designing the real future of cryptocurrencies platforms and they aim to tackle the problems that impede centralized structures by building a peer to peer marketplace that give privilege to users to be custodial of their assets which makes it to be trustless where security and privacy are well preserved.

InterFinex Approach

With Interfinex — you can convert any ERC20 token into any other ERC20 token and pay a fee of 0.1% on all trades — Or provide a referral and receive a 51% discount (0.049% fee). Not only that, you can deposit an equivalent amount of ERC20 tokens into the pool and start yield farming. The amount you earn will be dependent on the fees paid and the amount of liquidity deposited. Earn ERC20 tokens and Interfinex Bill tokens in every liquidity pool. It does not end there when we say it is simple and convenient, that is what it is. In continuation, 10% of the trading fees will be converted to Interfinex Bills and paid out to Liquidity Providers. In addition to this, 80% of the fees will be paid out in the ERC20 token that was sold during the trade.

Recently, the Interfinex team have introduced a 500x leveraged margin on their platform. It is very simple to use, all that is required to do is to enter the amount and drag the slider to the number of leverage the user intends to use. Close of positions is just at a tap of the button, all users have to do is to tap on the “Close long position” or “Close short position” button and the position will be closed. Any profits acquired will automatically be transferred to the user’s account.

The team as part of the token distribution is introducing yield farming to support the pool on the platform. This is the right time as 30% of the supply will be distributed via yield farming over the next 6 months, the time is ticking. All that is necessary to do is to deposit some liquidity into one of the supported pools. After this has been done, you will automatically start earning yield. The reward is dependent on the amount you deposit relative to the pool size.

The APR of your favorite pool is accessible via the blue card above or on the yield farming page as shown below:

Interfinex distribution strategies are listed below

30% of tokens will go for exchanges.

10% will be channeled towards marketing,

30% will be used as community incentives,

20% was allocated for team members

The remaining 10% is reserved for founders.

There are more to Interfinex and other details are obtainable via any of these links

#ETF #Ethereum #bitcoin #eth #uniswap #defi #gem #investing #altcoins #exchange #money #cryptocurrency #trading #investment #decentralized.