What is NFEX? NFEX is a decentralized NFT Perpetual exchange that enables users to leverage popular Blue Chip NFTs. Let’s find out what is special about this project with Weakhand in this article.
Before jumping into the article, everyone can learn about NFTPerp here to gain more perspective on the NFT Perpetual segment in the crypto market.
What is NFEX?
Overview of NFEX
NFEX is a Perpetual NFT exchange built on Ethereum. Users can open up to x20 leveraged positions with Blue Chip NFTs. Additionally, users can open Long/Short positions with Limit Orders for a specified price or Market Order at current market prices.
Currently, NFEX only supports trading pairs of some blue chip NFT collections such as: AZUKI/ETH, BAYC/ETH, MAYC/ETH, CLONEX/ETH.
NFT futures contracts on NFEX have some unique features such as:
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No expiration: NFT futures contracts on NFEX have no expiration date, allowing traders to hold their positions as long as they are not liquidated.
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Lever: NFEX offers up to x10 leverage, allowing traders to buy and sell NFT collectibles with only ETH as collateral.
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Funding Rate: NFEX uses Funding Rate to ensure that futures contract prices correspond to the floor price of NFTs by balancing supply and demand between buyers and sellers.
What is the NFEX Difference?
Trading strategies: Investors can short NFTs without holding them, which opens up a variety of trading strategies including hedging, speculation and arbitrage.
Low transaction fees: The majority of popular NFT marketplaces charge royalties of up to 10% and transaction fees of up to 2.5%. On the other hand, NFEX reduces trading fees to the lowest in the market. NFEX is stepping up NFT trading by establishing incentives for market makers who can receive a high percentage of trading fees to benefit from increased liquidity.
In addition, investors can also combine multiple positions in one trading pair. This helps them control risks as well as implement some of their strategies.
Core Team
Update…
Investor
February 15, 2023: NFEX announced the successful raising of $3M in Seed Round from investment funds ABCDE Capital, Amber Group and Finence.
Tokenomics
Update…
Information Channel of NFEX Project
- Website: https://nfex.io/
- Twitter: https://twitter.com/nfex_official
- Medium: https://medium.com/@nfex.official/
- Discord:
summary
NFEX is a decentralized NFT derivatives exchange that gives users access to derivative products that seem to only appear with tokens on Cex exchanges, now users can Long/Short with NFTs. Hopefully through this article, everyone will have useful knowledge about NFEX.