Decentralized Finance popularly knows as DeFi is a financing system that uses sets of protocols utilizing blockchain technology to develop a financial platform that is non-custodial and open for everybody to access. The main focus on Decentralized Finance (DeFi) is to build an ecosystem that will not be under any central control, void from any influence by a higher authority or government body, and at the same time transparent. With this, users are in the center control of their assets and they interact with the DeFi platform through what’s called dApps (decentralized Applications).
Interfinex dismantled the above approach further by turning a complex solution into the simplex form. 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.
Early farmers have started enjoying amazing benefits as the block reward has been decreased by 50% to accommodate the inflation schedule. You can yield farm on Interfinex by visiting https://interfinex.io/app/swap. Interfinex v0.9 Beta has been released and the token (IFEX) has been listed on 3 exchanges: Finebox, Interfinex and Uniswap
The contracts details are as provided below:
- Interfinex Bills: 0xA891CF72AEDa692570928eFe1A832342e9783CDC
- Factory: 0xc317d9398520b85141f2DaFD2F48B070bD7a5047
- Exchange Template: 0xDc7E9e31506D3910000a3c67132A0caf7Ad6f503
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 liquidity for this margin is derived from the funding pool. You can deposit funds into the funding pool which users borrow from whenever they open a margin trade. Whenever a user closes the position, he/she will pay back the amount borrowed and this will bring an end to the loan as it will be terminated automatically. There is an interest rate to reward the liquidity providers who supply funding into the pool and this is dynamically calculated depending on the amount borrowed
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
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