Let the contract shine again, BIKING’s first DeFi product BKDEX chain contract trading platform starts internal testing
With the advent of the digital age, digital finance has gradually penetrated into all aspects of people’s lives, and the traditional financial system is facing challenges from the various advantages of DeFi.
DeFi’s exit from the circle will start in the midsummer of 2020. The liquidity mining project launched by Compound has achieved unprecedented success. Users can also harvest governance tokens while trading. This kind of gameplay has made other projects follow suit. Various DeFi projects emerged one after another, successfully kicking off the bull market that year.
The development in recent years has made the DeFi track more mature and stable, and the application scenarios are also tending to be diversified. With the recent news that Metaverse and Web3.0 are trying to integrate with DeFi, DeFi has once again ushered in its second development peak.
At the end of 2022, BIKING Coin King launched the plan to create a platform version of Web3.0, which is a brand-new BIKING2.0 multi-ecological platform, which includes DeFi into the BIKING ecosystem and is listed as the first batch of key research and development fields.
As we all know, BIKING is a global, safe and compliant centralized contract trading platform, and DeFi, as an important innovation in the field of decentralized finance, is mainly used in DEX. How can we perfectly connect with the DeFi ecosystem in the centralized platform? The BIKING team thought for a long time, and finally solved this problem unexpectedly during the discussion of a weekend conference call with the technical team. Named BKDEX, its appearance will perfectly fill the gap in the on-chain derivatives trading market in the Web3.0 ecosystem.
BKDEX will be funded by the BIKING Global Development Foundation and will be supported by the centralized BIKING contract trading platform. In the team’s vision, BKDEX is a new on-chain contract platform that focuses on the on-chain digital asset derivatives trading market track. In the future, it will focus on recreating the prosperity of the BIKING contract market and provide sufficient funds for on-chain digital derivative assets. Liquidity helps global users improve the utilization rate of their original idle funds and expand their on-chain financial application scenarios.
In the current plan, BKDEX will first serve all kinds of Metaverse and NFT assets in Web3.0 and provide automated contract trading pairs of mainstream tokens (BTC, DOGE, etc.) in the market.
Some old users may have doubts, why BIKING is already a well-known contract trading platform, but wants to rebuild a DEX contract platform, will it not affect the development of the main platform?
I believe that every user will ask this question when they see the news that BIKING is going to build a brand new on-chain BIKING, but BIKING has prepared a perfect answer. First of all, DeFi is a trend of the times, which will not be changed by any one’s will or platform. From the global TVL index report provided by the encryption community, it can be seen that it only took more than a year for the DeFi track to grow from the original 600 million US dollars to 180 billion US dollars, which is unmatched by any innovation sector in the financial field.
Secondly, the times have given opportunities for development. From the second half of 2021, the development momentum of DeFi has been affected by various unexpected events, resulting in a sluggish development. The panic in the encryption market has spread and the market funds have accelerated their flight, making the overall income of the track not optimistic. At this time, if you can “buy the bottom” and enter the game, you will achieve unprecedented success.
Finally, the most important point is that the DeFi market at this time coincides with the BIKING Coin King 2.0 plan, which makes the on-chain contract trading platform a reality.
As an on-chain contract trading platform in the Web3.0 field, BKDEX will surely lead to another advancement in the encryption world with its own unique and innovative mechanism.
BKDEX will build a set of contract trading mechanism completely driven by automated contract protocols based on BIKING Exchange’s years of experience in contract market operations to provide liquidity for users who open positions and improve the utilization rate of various funds . At the same time, BKDEX will be deployed in the sub-sections of the BIKING2.0 ecology, and will not launch an independent platform for the time being, so old users can experience the charm of brand new contract transactions on the chain with one account.
In the first internal test phase, the key internal test target of BKDEX is a brand-new automatic deep balance mechanism on the chain independently developed by the team, which specifically includes perpetual loans and time-limited loans. This agreement can achieve a simple and fast transaction experience like BIKING.
The contract trading platform on the chain under the Web3.0 ecology is still in a blank field. BKDEX relies on inheriting all the advantages of BIKING, the safest and most professional contract trading platform, and will quickly occupy the head traffic of this track after its launch, coupled with the low threshold created , high returns and various incentive mechanisms, BKDEX is bound to become popular in the global contract market, let us wait and see the future of the contract market!