Palmswap v2 provides a liquidity-efficient, powerful and user-friendly decentralized leveraged trading platform.
While legacy decentralized applications and exchanges continue to deal with high execution costs, low performance, and other trade inefficiencies, Palmswap v2 was built as a 'next gen' platform to overcome familiar DEX issues including front-running, slippage, asset limitations, and lack of risk management features.
Our unique synthetic architecture makes Palmswap more capital-efficient than any existing platform, allows for low trading fees and a wide range of levers and pairs.
All trades are on-chain, and all contracts are viewable with all their functions. The contracts have been audited by Zokyo.
All contract upgrades are publicly announced in advance, audited, and contain time locks so that users can see the code base before they become active.
All contracts can be easily viewed on bscscan to confirm the functions of the platform, addresses to which can be found under Coming soon
In short, if you close in profit you will always be paid out. You are paid out from the vault which bears the risk as the main counterparty to traders. If the trade is closed at a loss, you are paid out the remaining portion of your collateral from the contract and the portion which is your loss goes to the vault. Unless you have been liquidated - in which case all collateral goes to the vault. The portion of the collateral which was your loss remains in the PLP vault to be used to pay out other traders. To best understand this please refer to Liquidity Providing.
Trade 2 earn Program is about compensation of traders. Traders get Trading Points with every trade they place, these Trading Points can be converted to PALM tokens on a daily basis.
With every 1$ trader gets 1 trading point.
Traders on V2 enjoy zero price impact, this is made possible by our unique synthetic architecture. The PLP vault is used as a counterparty for traders, while the mark price comes from a price feed keeper. This keeper calculates prices using the median price of Binance, Bitfinex and Coinbase. This means that traders always have the best prices from the largest exchanges and can trade without price impact no matter how large the Trade is.
No, you cannot go into debt. You can only lose the collateral you deposit. Naturally, if your position has reached a price where it must be liquidated (-90%) your loss will be all of your collateral. Otherwise, your gain or loss will be what is returned to you. Do not put up more collateral than you could afford to lose. Stop Losses and Take Profits can be used to help ensure you close your position where you like.
Slippage refers to the amount you would be satisfied with the price moving when opening your position. For instance, if the price were to move more than 1% while awaiting the oracle to return the price - you may be unsatisfied with that open. You can set slippage to ensure you open within the price range you are happy with; if the price deviates from this, the trade will not open.
The entire protocol revenue flows back into the ecosystem, in the following way:
- 30% of the trading fees go to PALM stakers
- 60% of the trading fees go to Liquidity Providers
- 10% of the trading fees are used to buy back PALM and burn them.
PLP is the liquidity provider token for the Palmswap exchange platform. It consists of an index of USDT assets that are used for leverage trading. PLP can be minted with USDT and burned back against USDT. The price for minting and re-burning is calculated based on (the total worth of assets in the index including profits and losses of open positions) / (PLP supply).
If you want to add liquidity the only thing you need to do is to buy PLP.