A few days ago, Permissionless Margin Trading Protocol OpenLeverage announced the V2 version of its test network.
In July this year, OpenLeverage announced closed an oversubscribed $1.8 million seed investment round, led by Signum Capital and LD Capital. The permissionless leverage trading platform’s funding round also saw participation from other notable investors including FBG Capital, Continue Capital and YBB Foundation.
According to the data released by the OpenLeverage team, there are currently more than 25,000 unique user addresses on the OpenLeverage Testnet.
This Testnet V2 upgrade focuses on the optimization of product functions and user experience.
Testnet V2 Key Upgrades
- Integrated with both Uniswap V2 and V3 liquidity pools. The protocol now automatically sources to the best liquidity pools of Uniswap V2 or V3 on market creation to make sure to have the smallest slippage for trading and risk management. A future release will allow to aggregate with more highly liquid DEX so trades to be routed to obtain better prices and the lowest possible fees.
- Introducing OnDemand Oracle to more effectively protect positions from price manipulation and flash loan attacks while enabling lending and margin trading for arbitrary pairs that have sufficient liquidity. OpenLeverage doesn’t rely on oracles that piping from off-chain prices. Instead, it makes use of TWAP prices provided by Uniswap (or its forks) to build reliable price feeds that are updated based on trading interest to avoid expensive or continual price feed maintenance.
- Lending market page is upgraded to provide market risk info. Calculated from the transactions data on-chain, you can now refer to 45-day price and liquidity volatility to understand market and liquidity risks while making trading and lending decisions.
- Real-time market data directly from the chain. We built real-time price feeds to be illustrated on the TradingView price chart to ensure the price authenticity and reflect the real-time risk. At the same time, the data loading speed is improved, results in a more smooth user experience.
OpenLeverage is a Permissionless Margin Trading Derivatives Protocol, which enables traders to long or short any trading pair on DEXs efficiently and securely. Peckshield and Certik will conduct smart contract code audit for OpenLeverage.