It's Alt Season!
*NOT INVESTMENT ADVISE ETC ETC*
Charting today the $L2 token on Uniswap.
$L2 is the governance token which powers Leverj.io DeFi Derivatives exchange and its amazing Gluon.Network Layer 2 solution.
Uniswap link: info.uniswap.org/pai...4fde19c8c580f5e7ac63
Technical commentary is in the chart itself.
Fundamentals:
- Leverj spent 3 years building and testing Layer 2 scalability before all the DeFi script kiddies showed up 6 months ago.
- Currently they are wrapping up soft launch (Spot markets and DAI based perpetuals) and preparing for USDt Perpetual swaps for BTC and ETH around 15th Dec launch. Lot's of partners. New MM/liquidity will be live same time.
- $L2 by classification (BNC Taxonomy) is an "exchange token", a "DeFi Governance token" as well as a "Layer 2 Scalability Infrastructure token".
- Staking of $L2 tokens is scheduled for "Early Q1" but might come before xmas - devs will release when finished and audited.
-- As an analogue; if you trade on Bitmex, deribit etc, the founders/equity holders get all the trading fees (which is in the billions per year!). With Leverj/Gluon, ONLY staked $L2 holders get those tasty fees (and will be able to vote on many key governance items in the future).
- Yesterday one of the founders (Shashank) was demoing the ecosystem/platform on the "MakerDAO Collateral Onboarding Call" - a zoom anybody could attend. It was well presented and received amidst the community - worth a watch: youtu.be/s-snD7yZVnE
- Self-Custody. Even if the exchange gets 'hacked' you still hold your private keys.
- Super Fast. Like really fast! Feels like a centralized exchange but security and benefits of a DEX.
In the context of everyone moaning about gas-fees and slow speed of Ethereum trading, there's been a very obvious need for layer 2 based exchanges and scaling solutions. Rollups take almost a week to withdraw back to your wallet (Leverj is about 30min!). Leverj is the only account-based Layer 2 solution with no interoperability and composability issues. The closest alternative is Starkware who has not been developing for nearly as long.
Therefore $L2 represents partial Ethereum scalability in general. We will include L2 when it qualifies in our upcoming "scalability index".
Lastly - liquidity rewards will come once staking goes live. This could be similar to UniSwap where months after, users get an airdrop simply for using the product previously OR some flavor of tokens paid over a curve (early users get best rewards) for trading on the platform.
The only thing Leverj/Gluon needs is more things to trade on the platform (listings/products coming as per above) and some better exposure/content which too has been improving the past 2 months.
Exciting stuff. I've wanted to see decentralized derivatives since discovering bitcoin in 2010 and here it finally is.
Go check out Leverj.io
Twitter: twitter.com/Leverj_io
Gluon.Network
Twitter: twitter.com/GluonNetwork
*NOT INVESTMENT ADVISE ETC ETC*
Charting today the $L2 token on Uniswap.
$L2 is the governance token which powers Leverj.io DeFi Derivatives exchange and its amazing Gluon.Network Layer 2 solution.
Uniswap link: info.uniswap.org/pai...4fde19c8c580f5e7ac63
Technical commentary is in the chart itself.
Fundamentals:
- Leverj spent 3 years building and testing Layer 2 scalability before all the DeFi script kiddies showed up 6 months ago.
- Currently they are wrapping up soft launch (Spot markets and DAI based perpetuals) and preparing for USDt Perpetual swaps for BTC and ETH around 15th Dec launch. Lot's of partners. New MM/liquidity will be live same time.
- $L2 by classification (BNC Taxonomy) is an "exchange token", a "DeFi Governance token" as well as a "Layer 2 Scalability Infrastructure token".
- Staking of $L2 tokens is scheduled for "Early Q1" but might come before xmas - devs will release when finished and audited.
-- As an analogue; if you trade on Bitmex, deribit etc, the founders/equity holders get all the trading fees (which is in the billions per year!). With Leverj/Gluon, ONLY staked $L2 holders get those tasty fees (and will be able to vote on many key governance items in the future).
- Yesterday one of the founders (Shashank) was demoing the ecosystem/platform on the "MakerDAO Collateral Onboarding Call" - a zoom anybody could attend. It was well presented and received amidst the community - worth a watch: youtu.be/s-snD7yZVnE
- Self-Custody. Even if the exchange gets 'hacked' you still hold your private keys.
- Super Fast. Like really fast! Feels like a centralized exchange but security and benefits of a DEX.
In the context of everyone moaning about gas-fees and slow speed of Ethereum trading, there's been a very obvious need for layer 2 based exchanges and scaling solutions. Rollups take almost a week to withdraw back to your wallet (Leverj is about 30min!). Leverj is the only account-based Layer 2 solution with no interoperability and composability issues. The closest alternative is Starkware who has not been developing for nearly as long.
Therefore $L2 represents partial Ethereum scalability in general. We will include L2 when it qualifies in our upcoming "scalability index".
Lastly - liquidity rewards will come once staking goes live. This could be similar to UniSwap where months after, users get an airdrop simply for using the product previously OR some flavor of tokens paid over a curve (early users get best rewards) for trading on the platform.
The only thing Leverj/Gluon needs is more things to trade on the platform (listings/products coming as per above) and some better exposure/content which too has been improving the past 2 months.
Exciting stuff. I've wanted to see decentralized derivatives since discovering bitcoin in 2010 and here it finally is.
Go check out Leverj.io
Twitter: twitter.com/Leverj_io
Gluon.Network
Twitter: twitter.com/GluonNetwork