The FinNexus team is proud to announce a series of exciting new developments on Jan. 25, 2021:
While relying on a theme similar to the current FinNexus website, the new UX/UI greatly simplifies options trading & liquidity pool operations. It also integrates the new mining mechanism on both Ethereum and Wanchain.
You can enjoy the brand-new experience right here.
Two proposals - [FIP #03] and [FIP #04], respectively - have successfully passed the scrutiny of our community. This has paved the way for the launch of our new mining mechanism, which will be online at 12:00 UTC+0 Jan. 25, 2021, both on Ethereum and Wanchain.
The new mining mechanism will boost users’ returns, deepen the platform’s liquidity, and propel our project to its next stage of development.
At the heart of the system is the possibility of combining FNX and USDC/USDT, allowing users to reap larger rewards once tokens are locked.
The FinNexus team believes the new system will deliver significant results not just to individual users, but also to our overall ecosystem. On the one hand, it will boost liquidity, a serious issue in decentralized finance and beyond. On the other, by encouraging users to hold both FNX and USDC/USDT, we aim to strengthen our token and prevent a farm-and-dump scenario.
Please be aware that the old FPO mining mechanism will be terminated today. Users may still claim the old mining FNX rewards for a month, which is strongly encouraged.
USDT is a stable coin widely used in the cryptocurrency industry. By adding USDT as a collateral asset in the original USDC pool, the FinNexus team is turning the latter into a hybrid stable-coin pool that will accept both USDC and USDT as collaterals to write and settle options.
The benefits of this operation include:
Here is a graphic representation of the new liquidity pool mechanism:
Following a vote on proposal [FIP #04], a new pool with stablecoins - including wanUSDT, wanUSDC, and others - as collaterals has been created. The first tokens to be added will be wanUSDT.
Why creating a new pool on Wanchain:
Stay tuned for more good news from FinNexus!