As per the latest reports, OpenLeverage has made an announcement in regards to the successful conclusion of a funding round. The firm has announced that as a result of the recent funding round, it has managed to generate $1.8 million. The firm has revealed that it has managed to generate $1.8 million as a result of a seed investment round.
OpenLeverage team has announced that the particular private funding round had ended up getting oversubscribed. There were many more investors wanting to invest in the particular funding round but could not do it due to the cap.
OpenLeverage is going to be a margin trading protocol that is going to be decentralized in nature and is set to start soon. The firm has revealed that it is a funding round was led by LD Capital and Signum Capital.
The platform even observed the participation of several other major investors. Names of some of the major firms include YBB Foundation, Continue Capital, and FBG Capital.
OpenLeverage is set to be launched as a decentralized finance protocol. Any user who wishes to launch a trading market for leverage can use the OpenLeverage protocol in order to set up and launch a market for leverage trading.
The trading markets that the users get to set up are for arbitrary trading pairs. These trading pairs are known for providing liquidity that can be used on decentralized exchanges. One of the major examples of such decentralized exchanges is Uniswap.
OpenLeverage has also revealed one of the prominent advantages of using their protocol. If someone is using the protocol offered by OpenLeverage, then they do not have to rely upon the Chainlink oracle. This is something that has been offered for the very first time in the decentralized network.
In the past, the majority of the trading protocols were known for relying upon the Chainlink oracle. This is something that had been observed with the majority of the decentralized finance derivative protocols. However, the OpenLeverage platform is here to make a difference and change the tradition for the users for good.
When it comes to the pricing of the assets, OpenLeverage’s protocol uses the automated market maker (AMM). The automated market maker helps users go through the risks with the help of calculations.
Furthermore, the platform offers a two-phase liquidation process as well as lending pools. The lending pools are risk-isolated. With the help of these two components, the leveraged trading process gets facilitated with the help of secure and flexible lending.
The OpenLeverage team has announced that they are planning to launch the protocol by August of 2021. They have also confirmed that the protocol will be launched through the Ethereum network.