Part 1: Introduction
1. Would you introduce yourself to the GTA Trading Community? Your background and why do you create OpenLeverage?
Hi there! I’m John, Marketing Manager for OpenLeverage and have worked in marketing for the past 4 years. I got into the crypto space a few years ago, and since then my interests have grown in DeFi and I’m proud to say that I’m a part of the OpenLeverage family today.
The background of the founding team came from traditional finance and crypto backgrounds. They are experienced entrepreneurs and specialists with many years of experience in derivatives trading, risk management, and blockchain-based financial systems. They have worked with major institutions, including HSBC, Goldman Sachs, and Louis Dreyfus.
The reason why OpenLeverage came into existence was that the founding team took a look at the current situation of crypto and realized it can be improved.
Current centralized exchanges and decentralized protocols are permissioned markets with substantial barriers to entry and are very costly, providing minimal pairs and market depth.
The permissionless nature of decentralized exchanges changed the landscape by allowing token listing at the cost of an on-chain transaction. Many pairs have appeared on DEXs with promising liquidity and volume, and it is evident that as a fast-growing and long-tail market, a permissioned structure wouldn’t serve.
Compared to other leveraged trading protocols that provide 20–30 mainstream pairs supported by a traditional order book model, we aim to support thousands of pairs across many DEX and blockchains and help projects and DEX improve volume and liquidity by providing lending and margin trading support.
2. Can you describe what OpenLeverage is in a few sentences? What special things in the OpenLeverage project?
OpenLeverage is a permissionless margin trading protocol with aggregated DEX liquidity, enabling traders to long or short any trading pair on DEXs efficiently and securely.
It allows anyone to create lending pools and margin trading markets, offer funds to borrow, and connect to decentralized exchanges to serve unmet needs in the unsatisfied market.
3. Currently on the market are there any competitors?
Good question — currently we’re not directly competing with any other protocol.
The biggest reason is that all of these different protocols are running Offchain and Oracle, so they can only support minimal sets of trading pairs for market, where there are hundreds and thousands of different trading pairs on different DEXs. OpenLeverage is trading on DEXs on different chains. They might be able to serve 30–40 trading pairs, maximum maybe even 100.
We’re competing on different segments. We’re not competing with them. We’re contributing to a segment of the market that’s not satisfied and have unmet needs.
4. Could you tell more about OpenLeverage’s roadmap?
OpenLeverage will continue executing our multi chain strategy to deploy on Avalanche, Polygon, Fantom, and many other EVM-compatible chains, connecting to decentralized exchanges like Uniswap, SushiSwap, PancakeSwap, MojitoSwap, and more, supporting thousands of pairs out there.
We will also extend our product offering, such as limit order for both spot and margin trading, to support any pair on any DEX and EVM-compatible chains.
Part 2: Questions Form
Guest selected 5 best questions to answer sent before beginning of AMA:
- How many partnerships do you have?
I’m glad you asked! It’s quite a big list at this point.
We’ve been involved with a lot of partnerships that mutually benefit our project while helping our partners.
There’s been a lot of integration with DEXs and partnerships with Uniswap, SushiSwap, PancakeSwap, BabySwap, Biswap, MojitoSwap, Mdex, and Kuswap have been established.
We’ve been integrating with different projects so OpenLeverage can be used directly in our partner’s interface so we have partnerships with Huobi Wallet, Coinbase Wallet, Coin98 Wallet, BitKeep, SafePal, and ONTO wallet.
Other key projects we’re working with: Multichain, XY Finance, InfinityPAD, Solv Protocol, Berry Data, FLOKI and the Fuse Network.
Overall, we’ve had a number of successes with our strong partnerships and hope to add more to grow and strengthen our ecosystem.
2. Do you have any plan for the community to better understand your project?
We have ambassadors from all over the world and multi-language channels on Discord to provide local community support. We’re also always on the lookout for talented individuals. If you’re a Growth Hacker and specialists in Content Marketing, feel free to connect with us! You can apply here: https://forms.gle/4tfCTamZTyvsEuoH9
3.The most important aspects that users notice on a platform are security and user interface. How has your project dealt with this?
Security has always been our Number 1 priority throughout our product and technical design.
It’s always a challenge to be completely open and safe at the same time. We finely define the boundary of risk and liquidity and trading flow so we can have an open, safe, and good user experience at the same time.
We have followed secure development best practices throughout OpenLeverage’s development. Our security review process includes a full-length audit from Certik and Peckshield. Check it out: https://github.com/OpenLeverageDev/openleverage-contracts/tree/main/audits
We partnered with Code4rena for a 1-week audit contest to finer tuned security settings and gas optimization.
You can read more here: https://medium.com/code-423n4/the-ones-in-the-arena-openleverage-661e219cc58.
4. Can you briefly tell us what your mission is all about? What problems are you trying to solve?
OpenLeverage aims to provide an infrastructure to enable a permissionless margin trading market, allowing anyone to create markets, lend and borrow, and connect to trading venues to serve the unsatisfied market.
No permission is needed to create a margin trading market for any pair with isolated lending pools and market-adjusted risk controls.
OpenLeverage can support margin trading for thousands of different trading pairs by accessing the DEX’s depth; more pairs mean more opportunities for traders and lenders.
Traders can long and short any pair on DEXs with sufficient liquidity.
OpenLeverage was born from the perceived potential and limitations of trading cryptocurrencies. There is a lot of DeFi growth mixed in with the permissionless nature of finance. Users might find it very difficult to find permissionless markets when looking for leverage trading.
The current situation is that decentralized leverage trading protocols provide limited pairs and market depth and cannot scale to meet demand from rapid market development. The need exists for a secure and permissionless leverage trading facility that serves the fast-growing DeFi market.
The basic premise of the project is that OpenLeverage wants to enhance the trading experience for the user.
It is the vision of the team to build a permissionless lending and margin trading protocol with aggregated DEX liquidity, which would enable traders to long and short any trading pair on DEXs efficiently and securely.
5. Can you explain more about the features of OpenLeverage?
OpenLeverage is a permissionless lending margin trading protocol that enables traders or other applications to long or short on any trading pair on DEXs efficiently and securely.
Key features include:
Margin trading with liquidity on DEXs, connecting traders to trade with the most liquid decentralized markets like Uniswap, PancakeSwap, SushiSwap, and more.
Risk isolation lending pools, having two separated pools for each pair, and different risk and interest rate parameters, allow lenders to invest according to the risk-reward ratio.
Risk calculation with real-time AMM price, calculating collateral ratio with real-time AMM price for any pair available from a DEX.
OnDemand Oracle uses TWAP prices provided by the DEX to detect price manipulation and force price updates to make it valid for trading and liquidation.
LToken is an interest rate-bearing token for each lending pool, allowing the third-party to incentivize their community to provide liquidity into the lending pools into support margin trading for their token pairs.
OLE token is the protocol native token, minted by protocol usage, and staked to get rewards and protocol privileges.
Very intuitive and user-friendly UI
Part 3: Community Interaction
- How can I buy this tokens? Is it available on any exchange?
Thank you for this question!
Firstly, I need to highlight that there’s no $OLE token sale yet, so please stay tuned to our official social channels. Add us on Discord discord.gg/openleverage, Twitter https://twitter.com/OpenLeverage, and Telegram https://t.me/openleverage to stay updated.
We have a dual-token tokenomics design: $OLE is the native token that incentivizes protocol usage such as lending, trading, facilitating liquidations, and staking. Holders of $OLE tokens are encouraged to lock $OLE into time-weighted vote escrow in exchange for xOLE tokens.
xOLE holders have the power to vote or submit proposals in the OpenLeverage DAO governance process, boost earnings on incentivized lending pools, and have discounted fees on margin trades.
Learn more from our blog post: https://openleverage.medium.com/the-principle-of-openleverage-tokenomics-3e9e598932fa
2.What is your strongest advantage that you think will make your team leading the market?
I think the strongest advantage we might have is that we’re an experienced team with a lot of experience in this sector. The founding team came from traditional finance and crypto backgrounds and are very experienced entrepreneurs and specialists with many years of experience in derivatives trading, risk management, and blockchain-based financial systems. They have worked with major institutions, including HSBC, Goldman Sachs, and Louis Dreyfus.
3. How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?
Thanks for your question 🙂 We have awesome ambassadors from all over the world and try our best to provide multi-language channels on Discord to provide local community support. Plus, we’re always on the lookout for talented individuals to come join our project!
4. Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Of course! There are numerous videos on YouTube you can check out. Just search for “OpenLeverage” for more information. https://www.youtube.com/results?search_query=openleverage
5. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
Thanks for asking this! Of course, you can always add us on our social channels here: Discord discord.gg/openleverage, Twitter https://twitter.com/OpenLeverage, and Telegram https://t.me/openleverage to stay updated.