YFX Genesis Mining II Competition is Complete
The YFX Genesis Mining II competition is now complete and it was a stellar campaign to say the least. The event ran from April 6th-April 16th and was off to a great start on day one.
Within the first 24 hours of the competition YFX DEX did more volume than Uniswap and exceeded the amount of new liquidity added to Uniswap within the same duration. This was categorically a major success since YFX has just recently launched and this is only our second mining event. We’re proud of our team and the community growth in such an early stage of our operation.
For those that aren’t familiar with YFX yet, YFX is a cross-chain decentralized perpetual contract trading platform. We utilize four different blockchains right now and are adding two more soon to continue to serve our traders in an attempt to reach peak efficiency in an ongoing manner. Currently, YFX utilizes Ethereum [xDAI], Binance Smart Chain, Tron and Heco. Shortly, we will also have trading available on OKEx Chain and Polkadot. We’re the first decentralized perpetual contract trading platform with up to 100x leverage offered in the world.
Some of the most important data from the mining event has now been calculated and the numbers are impressive to say the least. Over the 10 day mining event YFX had a net trade volume of $3,880,432,628. The total number of transactions done during the competition was nearly a quarter million [230,012]. The total number of participants that took place in the most recent mining event was 24,875. $1,383,080,296 was the highest trading volume and we’re just getting started with these competitions.
Trading volume by chain during the competition saw Heco take the majority with ETH [xDai] finishing second and BSC finishing third.
The Top 3 Trading Pairs were as follows:
[1.] BTC_USDT (in USDT) [2.] BTC_USDT (in HPT) [3.] ETH_USD (USDC)
First prize in the competition: $45,073.83
Second prize in the competition: $33,048.83
Total Trading Hash Power: 4,299,677,344. Total Liquidity Hash Power 157,500,688,444. AVG $YFX (Mining1+Mining2) 217.08
YFX.COM is a cross-chain decentralized perpetual contract platform based on Ethereum, Binance Smart Chain, Huobi Ecological Chain, TRON,OKEx public chain, and Polkadot. It provides up to 100 times the perpetual contract trading BTC, ETH and other assets. Different from the common automatic market maker model (AMM), YFX.COM adopts the QIC-AMM market maker pool trading method to provide users with high liquidity and low trading slippage. YFX.COM has successfully supported layer2’s perpetual contract trading function. YFX.COM’s goal is to build a DEX that can compete with CEXs on the derivatives trading track.
YFX official contact information:
Website: https://www.yfx.com/
Twitter: https://twitter.com/YFX_Defi
Medium: https://yfxdefi.medium.com/
Telegram: https://t.me/YFX_EN
Discord: https://discord.gg/xwAtjpabC5
Media Contact: media@yfx.com
