1/ One thing that is missing from #DeFi is the possibility to long and short ERC-20 tokens 💹
The truth is that you can with Logium V1
Logium has created a secure, decentralized long/short bets marketplace 📈
Here's a deep-dive on @LogiumDEX 🔎
👇🧵
The truth is that you can with Logium V1
Logium has created a secure, decentralized long/short bets marketplace 📈
Here's a deep-dive on @LogiumDEX 🔎
👇🧵
@LogiumDEX 2/
TL;DR 🎙️
@LogiumDEX is a decentralized bets marketplace that allows its users to go long or short with up to 5x leverage on ERC-20 tokens
It works through a peer-to-peer decentralized PvP marketplace
Its only fee is a small one paid by the winners
TL;DR 🎙️
@LogiumDEX is a decentralized bets marketplace that allows its users to go long or short with up to 5x leverage on ERC-20 tokens
It works through a peer-to-peer decentralized PvP marketplace
Its only fee is a small one paid by the winners
@LogiumDEX 3/
What I'll cover in this thread:
🎰What is @LogiumDEX
🎰How it works: issuing a bet
🎰Taking a bet
🎰Logium V2
What I'll cover in this thread:
🎰What is @LogiumDEX
🎰How it works: issuing a bet
🎰Taking a bet
🎰Logium V2
@LogiumDEX 4/
What is @LogiumDEX?
Logium is a PvP, peer-to-peer protocol where you can short any ERC-20 token tradable on @Uniswap V3 ⚔️
Even the smallest and most illiquid
It is based on $ETH but has close to no fees but for some actions ⛽
What is @LogiumDEX?
Logium is a PvP, peer-to-peer protocol where you can short any ERC-20 token tradable on @Uniswap V3 ⚔️
Even the smallest and most illiquid
It is based on $ETH but has close to no fees but for some actions ⛽
@LogiumDEX @Uniswap 5/
It allows up to 5x leverage and no KYC is needed👁️
Of course, being 100% decentralized you have full custody of your money 🔐
Thanks to the self-custodiality you can avoid the risk you find when using a #CEX
It allows up to 5x leverage and no KYC is needed👁️
Of course, being 100% decentralized you have full custody of your money 🔐
Thanks to the self-custodiality you can avoid the risk you find when using a #CEX
@LogiumDEX @Uniswap 6/
The only risk you'll find in using @LogiumDEX is the Smart Contract's risk 🤖
You won't have to deposit crypto in here unless you want to issue a bet, but more on that later
This protocol's still in Beta, but once it's fully live you'll be able to trade +500 tokens on $ETH
The only risk you'll find in using @LogiumDEX is the Smart Contract's risk 🤖
You won't have to deposit crypto in here unless you want to issue a bet, but more on that later
This protocol's still in Beta, but once it's fully live you'll be able to trade +500 tokens on $ETH
@LogiumDEX @Uniswap 7/
How does it work? 🎲
On Logium there are bet issuers and bet takers
The first is the one opening the bet
Issuers make a capital deposit and then choose some parameters 👇
How does it work? 🎲
On Logium there are bet issuers and bet takers
The first is the one opening the bet
Issuers make a capital deposit and then choose some parameters 👇
@LogiumDEX @Uniswap 8/
They need to specify
◾The token
◾Direction, long or short
◾Strike Price
◾Multiplier (leverage)
◾ Period
◾Validity of the bet (how long till the bet expires)
They need to specify
◾The token
◾Direction, long or short
◾Strike Price
◾Multiplier (leverage)
◾ Period
◾Validity of the bet (how long till the bet expires)
@LogiumDEX @Uniswap 9/
The tokens can be chosen from any ERC-20 being tradeable on @Uniswap 🦄
Atm, the beta version offers a restricted selection, the official launch will gradually add tokens
The Validity avoids late betting to trick the chances 🎲
The tokens can be chosen from any ERC-20 being tradeable on @Uniswap 🦄
Atm, the beta version offers a restricted selection, the official launch will gradually add tokens
The Validity avoids late betting to trick the chances 🎲
@LogiumDEX @Uniswap 10/
About the leverage 👇
It's called Multiplier and it allows you to take/issue a bet with less capital than your opponent
0.2x for very probable bets
0.5x for probable bets
1x for bets with equal probability
2x for improbable bets
5x for very improbable bets
About the leverage 👇
It's called Multiplier and it allows you to take/issue a bet with less capital than your opponent
0.2x for very probable bets
0.5x for probable bets
1x for bets with equal probability
2x for improbable bets
5x for very improbable bets
@LogiumDEX @Uniswap 11/
The issuer pays no fees when issuing a bet, and it then goes to awaiting bets
Here, the takers can choose to take a bet and challenge the issuers
The only fee being paid on Logium is the gas for accepting a bet ⛽
The issuer pays no fees when issuing a bet, and it then goes to awaiting bets
Here, the takers can choose to take a bet and challenge the issuers
The only fee being paid on Logium is the gas for accepting a bet ⛽
@LogiumDEX @Uniswap 12/
At the end of the period, a winner is decreed and they take 100% of their stake from the opponent 💰
@LogiumDEX takes a small 5% fee from the winner, this ranges between 0.33% and 4.2% of the betting capital
The price checked to choose a winner is the one from Uniswap🦄
At the end of the period, a winner is decreed and they take 100% of their stake from the opponent 💰
@LogiumDEX takes a small 5% fee from the winner, this ranges between 0.33% and 4.2% of the betting capital
The price checked to choose a winner is the one from Uniswap🦄
@LogiumDEX @Uniswap 13/
Timeframes available for the periods ⏲️
1 or 6 hours
1 or 7 days
1 month
The validity frames ⏳
15m
1, or 6 hours
1, 3, 7, or 30 days
At any time the issuer can cancel the bet and pay nothing unless someone has taken a % of the bet before that moment ⚔️
Timeframes available for the periods ⏲️
1 or 6 hours
1 or 7 days
1 month
The validity frames ⏳
15m
1, or 6 hours
1, 3, 7, or 30 days
At any time the issuer can cancel the bet and pay nothing unless someone has taken a % of the bet before that moment ⚔️
@LogiumDEX @Uniswap 14/
The winning process is managed by Auto-exercise bots🤖
The exercising is done in the exercise window, a short timeframe at the end of the period, in case the takers wins
When not exercised, the issuers always win
The winning process is managed by Auto-exercise bots🤖
The exercising is done in the exercise window, a short timeframe at the end of the period, in case the takers wins
When not exercised, the issuers always win
@LogiumDEX @Uniswap 15/
Exercisers bots constantly scan the Ethereum mainnet in search of an exercisable bet
In these specific cases, the bots will give victory to the issuer 👇
▪️ Gas fees for exercise tx are higher than the value of the bet
▪️ There's an outage of all auto-exercise bots
Exercisers bots constantly scan the Ethereum mainnet in search of an exercisable bet
In these specific cases, the bots will give victory to the issuer 👇
▪️ Gas fees for exercise tx are higher than the value of the bet
▪️ There's an outage of all auto-exercise bots
@LogiumDEX @Uniswap 16/
There is a limited list of tradable tokens while Logium's still in Beta 👇
$FTX, $USDD, $UNI $MATIC, $USDT, $FTM, $LOOKS, $SHIB, $AAVE, $BIT, $BTT, $HEX, $FUN, $ETH, $ENS, $LINK, $APE, $BTC, $MKR, $COMP, $GNO
There is a limited list of tradable tokens while Logium's still in Beta 👇
$FTX, $USDD, $UNI $MATIC, $USDT, $FTM, $LOOKS, $SHIB, $AAVE, $BIT, $BTT, $HEX, $FUN, $ETH, $ENS, $LINK, $APE, $BTC, $MKR, $COMP, $GNO
@LogiumDEX @Uniswap 17/
The platform has been audited by @CertiK and Securing
Logium has hinted at rewards for early users
A nice Twitter feature allows you to share the bet and look for opponents 👀
The platform has been audited by @CertiK and Securing
Logium has hinted at rewards for early users
A nice Twitter feature allows you to share the bet and look for opponents 👀
https://twitter.com/LogiumDEX/status/1592265498162565120
@LogiumDEX @Uniswap @CertiK 18/
A Logium v2 version demo is live and you can test it out 🛠️
No real money, just the platform you had access to before, with some important changes
UI/UX changes were made for this version to be simple and fast 💻
A Logium v2 version demo is live and you can test it out 🛠️
No real money, just the platform you had access to before, with some important changes
UI/UX changes were made for this version to be simple and fast 💻
@LogiumDEX @Uniswap @CertiK 19/
It's live at v2.app.logium.org/bets/BTCUSDT and needs no KYC or wallet connection
There are only 3 pairs at the moment $BTC / $USD, $ETH / $USD, and $BTC / $ETH
The 2 version coexist and Logium is also having some contests ⚔️
It's live at v2.app.logium.org/bets/BTCUSDT and needs no KYC or wallet connection
There are only 3 pairs at the moment $BTC / $USD, $ETH / $USD, and $BTC / $ETH
The 2 version coexist and Logium is also having some contests ⚔️
https://twitter.com/LogiumDEX/status/1616078336694063106
@LogiumDEX @Uniswap @CertiK 20/
Users of this DEX are already loving the new version and despite having only 3 pairs it's used a lot
The main reason for its good performance it's how fast it is ⚡
The 15s to 3m timeframes makes everything a rush with the experience being 10x faster than V1 ⏲️
Users of this DEX are already loving the new version and despite having only 3 pairs it's used a lot
The main reason for its good performance it's how fast it is ⚡
The 15s to 3m timeframes makes everything a rush with the experience being 10x faster than V1 ⏲️
@LogiumDEX @Uniswap @CertiK Links 🌐
Twitter: @LogiumDEX
Discord: discord.com/invite/pdDFFfx…
Docs: docs.logium.org
Youtube: youtube.com/@logium9915
Defillama: defillama.com/protocol/logium
Site 👇
logium.org
Twitter: @LogiumDEX
Discord: discord.com/invite/pdDFFfx…
Docs: docs.logium.org
Youtube: youtube.com/@logium9915
Defillama: defillama.com/protocol/logium
Site 👇
logium.org
@LogiumDEX @Uniswap @CertiK That was it for this thread 🧵
You know the drill 🫡
Follow me @RiddlerDeFi for more alpha 🧠
Best way to support is to simply drop a RT + LIKE on the #1 tweet of this thread 🖤
You know the drill 🫡
Follow me @RiddlerDeFi for more alpha 🧠
Best way to support is to simply drop a RT + LIKE on the #1 tweet of this thread 🖤
https://twitter.com/RiddlerDeFi/status/1621124035659677697
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