Crypto exchange Bitwells announces 777 BTC giveaway

Bitwells, a leading crypto derivatives exchange, has launched a 100% deposit bonus for new signups in a program that will see the exchange give away a total of 777 bitcoins (BTC).

The promotion is geared toward rewarding those traders who deposit up to 10 BTC where a trader will be given a matching bonus equal to the amount he/she deposits.

If a user deposits, 1 BTC, for example, they will get a total of 2BTC credited to their account while a trader that deposits a maximum of 10 BTC will get 20 BTC credited to their account.

The move is aimed at establishing Bitwells as a leader in the field of crypto derivatives since the promotion is one of the most generous promotions within the industry.

Besides, it is an attractive opportunity for traders looking to benefit from intraday trades, especially at the moment when the crypto market is highly volatile.

How the deposit bonus works

Most importantly, the matching bonus is not withdrawable. However, it can be used as a margin to open bigger positions that entitle traders to higher profits if the market speculation is correct.

Any profit made when using the bonus as a margin is wholly withdrawable.

In essence, the bonus ensures the safety of the traders’ capital especially when the market goes against their speculation. Normally, without margin, the capital is easily wiped away if the market experiences large price swings.

Bitwells is a renowned crypto derivatives platform that offers 100X leverage on ETH, LTC, EOS, XRP, and BTC futures contracts and the matching bonus goes a long way in giving traders more exposure during trades.

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Equilibrium integrates Polygon for cross-chain DeFi solutions

Equilibrium has announced Polygon integration as it aims to offer cross-chain DeFi solutions to both projects and users of the Polygon Network ecosystem. Following the integration, Equilibrium will allow Polygon users to leverage the innovations and advantages of the Equilibrium DeFi 2.0 platform.

Developers will also be able to build scalable solutions that feature cross-chain interoperability and communities of both parties will leverage the advantages of the integration.

Equilibrium and Polygon integration uses cases

Polygon’s integration with Equilibrium offers unlimited benefits to both sides. MATIC holders, for example, will be able to use their tokens to borrow assets on Equilibrium and the borrowed assets can be moved through the ecosystem and even exchanged on the decentralized exchange of Equilibrium.

Borrowers will require low collateralization of 105%, which is 20X the leverage.

Additionally, users will have the advantage of diversifying the risk of the volatile market and also get payable interest at the lowest possible rates. Users will even have the opportunity to go short on their MATIC holding using the same amount of ETH.

Following the integration, Equilibrium is planning to expand its reward program to users. Users will be able to easily earn an average APY of 10% to 20 %. Users earn APY in Equilibrium depending on the provided liquidity. The higher the provision the higher the APY.

Users will also be able to earn interest from their holdings by providing insurance to the network. The insurance comes in handy when circumstances cause panic among the community members.

Following the integration Polygon will drive the transaction fees to a fraction of a cent for cheaper movement of both crypto assets and stablecoins between partners.

Aave, which runs of Polygon, will allow users to use its AAVE tokens as collateral to borrow funds from Equilibrium.

The integration will also see JellySwap and Dfyn Network protocols allow their users to move assets to Equilibrium for locking in pools to earn interest.

Currently, the assets borrowed on Equilibrium are moved across the Polkadot ecosystem using the XCM Communications between Polkadot parachain. However, in the future, Equilibrium plans to EQD liquidity and EQ to the Polygon Chain as ERC20 compatible smart contracts.

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