All these centralized exchanges is banning people from their platforms. Houbi banning chinese citizens from their derivatives, Binance is not allowed in several countries, All these events are making these exchanges slowly squeze users out of their own platforms, And where will all these people go to margin trade, lend, borrow and other features they wanted to use?
Some will quit, others will move to decentralised platforms for sure, but which ones?
The ones that are most competent and well-know for being decentralised and feature rich.
We, Sovryns, have to take intitaives to put our platform out there in the best way possible. We need to ensure that everything is working correctly from our part.
So far, I see these improvements to be taken seriously and performed urgently.
- Staking rewards to be industry standard or above : Which will ensure for future onbarding users that system is well balanced, rewarded and will continue to do so.
To improve this part i suggest to also include swap fees to be shared among the stakers not just spot trade fees, where the former is large in transaction size in the Sovryn platform.
What differentiates us should be working properly: We are Bitcoin Defi which allows for margin trading, lending and borrowing Bitcoin. But margin trading is one of our uniqueness, recently we had liquidity issues which made people unable to close their positions. We should solve this and make sure never to happen again.
Oracles/Arbitrage/Instrument : We also need to employ some measures to make sure the prices of tradables in the Sovryn platform is similar to general market price.
We need to facilitate the arbitrage opportunities to be exhausted quickly by rewarding those whome performs Arbitrage or by making it an new yieldable financial instrument in the platform, where people can deposit their assets and those assets will be used by the platform to perform arbitrage and share the weighted profit among those who deposited.
Uniqueness : More features that are not available anywhere else other than in the Sovryn platform.
Synergy : Reach out and help.