The platform claims to be the first of its kind on BNB Chain, offering users a slew of benefits and innovations.
MOR Perps, More Perks
Growth DeFi has announced that it will launch MOR Perps, a new perpetual futures contract trading platform on BNB Chain. With a launch date of August 31, 2022, MOR Perps claims it will be the first platform to offer users a platform with no slippage to allow for zero price impact, in addition to other benefits. Assets available upon launch include BTC, ETH, and BNB, with commodities such as gold and silver soon to follow.
In addition to being slippage-free, MOR Perps trades happen instantly because it is LP/Protocol-based, as opposed to order book based. This will provide users a seamless experience by allowing trades to be executed instantly, instead of only when a matching order is placed and the other side of the trade is fulfilled. Other incentives include VIP levels for holding partner tokens and trading competitions to reward users for using the platform.
What MOR Perps Brings for Users
MOR Perps aims to benefit cryptocurrency traders who would use MOR Perps to trade and hedge, and passive LPers who would deposit stables (BUSD or MOR Stablecoin) into the counterparty pool in order to act as market makers. Acting as the counterparty earns users swap fees from all the trade volume happening on the platform.
Currently the only other perpetual futures contracts trading platform on BNB Chain is Apollo X, for which PancakeSwap is a frontend. In comparison, an overview of the benefits of using MOR Perps can be seen in the following chart.“Growth DeFi is about innovation and filling the needs of users and protocols. It fits naturally within our core values to build a perpetual futures platform on BNB Chain that offers users features that don’t currently exist,” Ghost, the Co-Founder of Growth DeFi, shared. “We are excited to offer this better user experience not only to existing MOR users, but as a vehicle to onboard new users as they discover a better way to transact and trade.”
“Growth DeFi is about innovation and filling the needs of users and protocols. It fits naturally within our core values to build a perpetual futures platform on BNB Chain that offers users features that don’t currently exist,” Ghost, the Co-Founder of Growth DeFi, shared. “We are excited to offer this better user experience not only to existing MOR users, but as a vehicle to onboard new users as they discover a better way to transact and trade.”
MOR Perps will use the prices for contract assets using decentralized Chainlink oracles. Chainlink is the leader in oracle price feeds due to their record of consistency and uptime.
What is Growth DeFi:
Founded in 2020, Growth DeFi provides an advanced suite of products to blockchain protocols and investors, helping to increase their capital efficiency. It created the first overcollateralized stablecoin, MOR, which is a fork of DAI that could be used to leverage yield farming positions in 2021. Later, Growth DeFi built a wrapped derivative of LiquidDriver’s token LQDR, called cLQDR, which became the #1 holder of locked LQDR only 3 months after it launched.
For more information on MOR Perps, visit the official website.
For further inquiries, please contact:
- Ghost, Co-Founder of Growth DeFi
- perps@growthdefi.com
