Flash Leverage – 100% Decentralized Leverage Trading Tool, Now Live on CHFRY

The DeFi ecosystem continues to develop at a rapid rate, with innovations ensuring that mainstream users can access and take advantage of novel financial solutions in the decentralized ecosystem. One such development is flash loans.

Flash loan is a type of DeFi loan that allows users to borrow funds and repay them via a single transaction without the need for collateral. To borrow a flash loan, you need to apply for the loan, create a logic of exchange to ensure that you make a profit from the loan.

Once the loan is granted and the transaction terms are executed, the smart contract removes the profit and a small service fee all within a single transaction. While this sounds enticing, the process of getting flash loans is highly technical and only those that have coding experience can leverage this unique financial tool.

CHFRY Finance, an emerging DeFi protocol, aims to leverage flash loan infrastructure and develop cheap, user-friendly and accessible tools for retail traders. The protocol has recently launched its very first flash loan powered application called Flash Leverage.

An innovative flash loan platform

Flash Leverage, now live on the Ethereum Mainnet, brings about a unique experience to users. DeFi enthusiasts can access the cheapest on-chain leverage trading tool that allows them to take long and short trades on various digital assets.

Flash Leverage combines flash loans (CHFRY Flash Fryer) with AMMs (Uniswap) and on-chain lending protocols (AAVE V2) to provide a leveraged solution at extremely low fees, and what’s more, the platform powers these complex interactions in a single click.

There are no funding rates, no platform fees and no custody of assets on Flash Leverage. It is a one-click solution for the most affordable, 100% decentralized leverage trading experience.

Trading Competition: 3,000 $CHEESE and 1,000 $USDT in Bi-Weekly Rewards

With the launch of Flash Leverage, CHFRY has also introduced an ever-going trading competition, and yes you got that right – there is no end date set for the trading competition.

Traders on Flash Leverage can earn and claim $USDT and $CHEESE in bi-weekly rewards. These rewards are allocated and distributed on a 14-day epoch basis and are not contingent on vesting.

At the end of each epoch, a total of 3,000 $CHEESE is distributed among all the Flash Leverage participants, proportional to their total scores. For more information on how the scores are calculated and rewards are allocated check out CHFRY Medium blog.

Apart from the $CHEESE rewards, a 1,000 $USDT reward pool is split among those three traders who can gain the biggest profits each epoch.

Other recent milestones by CHFRY

The launch of this novel leverage trading tool is not CHFRY’s first achievement. It has to be noted that the protocol has been live since the end of 2021, and its very first product is yet another innovative tool that automates the debt repayment process.

This lending platform – Fryer, allows users to take out self-repaying loans, without any risk of liquidation. What’s more the protocol charges 0 interest rate for such loans.

CHFRY protocol automates debt repayment through diversified high yield strategies, as it deploys the collateral in Yearn Finance and CHFRY flash loan pools to generate yield and fees, respectively, that then are directed towards maturing debt positions. You can learn more about this revolutionary tool and how to take out a self-repaying loan in CHFRY’s tutorial.

What to expect in the future

CHFRY has ambitious plans for the future – the team behind the project is actively working on building additional flash-loan powered applications in accordance with its mission to solve existing DeFi market challenges related to capital inefficiencies and underutilization of the flash loan services.

Additionally, having multi-chain operability is CHFRY’s ultimate goal, with BSC rolling out in a couple of weeks. So, stay tuned as CHFRY protocol offers more exciting tools in the near future.

Final Takeaways

The DeFi ecosystem has come to stay and continues to open the crypto community to lots of untapped opportunities. From all indications, CHFRY finance will continue to thrive in the decentralized finance space as the project team is dedicated to its mission and works around the clock to deliver value to the broader DeFi community.

The post has appeared first on thenewscrypto.com

Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M

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