FTX Debacle Has Wounding Users Outflow to Shorter Finance Amid TOKEN 2049 London – Press release Bitcoin News

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FTX Debacle Has Wounding Users Outflow to Shorter Finance Amid TOKEN 2049 London

PRESS RELEASE. Token 2049 London, a packed crypto event in Europe, continues to accept applications from foreseeable projects. Over the past two weeks, a large number of attendees have gathered here to hear the latest statements from Web3 leaders. Shorter Finance’s CPO, Stan Wells, was invited to speak at the conference.

Stan, who is regarded as a gifted trader, pushed the atmosphere to a climax with his powerful remarks. In contrast to other wordy presentations, Stan summarized what an orderly and healthy decentralized financial hierarchy should look like and what users should learn from the chaos caused by SBF’s infamous inappropriate use of deposits for irrational gambling.

Considering the collapse of FTX and the rise of the DeFi sector, Stan firmly stated, “The players’ desire for a transparent transaction process is inevitably leading this industry in the right direction.” It is antithetical to the nature of blockchain that users hand over their assets to someone. Blockchain originalism clarifies that users should only trust the code, which is the major premise to dictate their asset flows.” Add to that, he cited FTX-ish centralized exchanges, “the order of the financial markets on the blockchain hasn’t been erected for long enough, too many problems are blurred by noise when markets are spoiled.”

FTX’s string of pseudo moves is reportedly tearing the vast majority of projects stuck in this dilemma apart. Exploiting users’ unconditional trust to dispose of funds in a centralized manner is a common feature these projects share. It is difficult to gauge how many individuals and institutions were devastated to death in this financial crisis, watching helplessly as their assets tumbled to the ground.

Once a user’s assets enter blind spots, a thoroughly trackable process of transactions and disposition is essential to ensuring safety. That means all fund flows and reserves must be able to be identified in wallets or blockchain browsers.

Aiming to aid insecure investors in surviving this cruel bear market, Shorter Finance is constantly committed to sparing users’ exposure to threats from product design and the trading process.

Single-sided token farming

Using Shorter, users are able to stake up to one token in the protocol in one go and absorb interest earned by the auto-run procedure. Those who stake their coins can deposit their idle tokens directly for revenue without having to sacrifice their altcoin for a stablecoin. Blockchain-based infrastructures take over users’ funds, significantly improving financial efficiency. By being in users’ hands, funds will never be corrupted by unaccountable centralized entities, and the scheme can increase fund efficiency to new heights.

Trader-centric margin trading

Scandals involving users’ deposits repeatedly occurred between centralized exchanges. Shorter Finance grants users the ability to engage in a secure transaction process simply by interacting with a set of smart contracts via their wallets without losing transparency and flexibility. By using algorithms and unstoppable mechanisms, traders can be spontaneously motivated to mitigate potential risks, execute trading strategies, and contain unexpected risks in a small room.

Centralized exchanges’ unfair liquidation rules for margin trading, born with the flaws of high centralization and low transparency, have been doing traders’ financial disservices for years. In contrast, users can perform margin trading on Shorter entirely with the help of smart contracts. All of these decentralized mechanisms running on the Shorter protocol ensure that users maintain their right to dispose of their positions throughout the transaction process.

Continuing on the theme of the FTX tumble, Matt Huang, the Co-Founder of Paradigm, told reporters that one of the critical things for the company was to figure out what sort of partnership Shorter could offer. Huang emphasized with reporters again that decentralized derivatives trading products like Shorter will be the wave generators in the next mega-trend after experiencing a loss during the FTX saga.

Website: https://stanford-blockchain.com/

 

 


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