After several months in beta testing, the XDFi Trading Protocol is finally live! XDFi is the world’s first compliant decentralized Futures Protocol and the most recent use case for Sceptre for Flare’s token sFLR.
What is XDFi?
In simple terms, XDFi is a decentralized Futures contract trading protocol on the Flare Network. If you’re not familiar with Futures contracts, they are agreements to buy or sell an asset on a specific date facilitated through a futures exchange, such as XDFi. In other words, XDFi pairs users predicting the price of one the assets available in opposite directions sometime in the future.
Built entirely on Flare, XDFi supports FLR and sFLR. A key advantage of using sFLR is that it continues accruing rewards even when used within the protocol and you’ll be contributing to the security of the Flare network. Currently, users can place Future contracts of 10,000 FLR or more on Bitcoin, Ethereum, XRP, Doge and TRUMP, with support for more tokens coming in the future.
Want to know more?
If you’re looking to know more about XDFi and Futures contracts, this week’s Flare Factor is the perfect place to start. We were thrilled to host Santiago Velez, co-founder of Sendric, the organization leading the XDFi protocol. Santiago provided a comprehensive overview of XDFi, detailing the protocol's architecture and demonstrated how to navigate its key features. Santiago also highlighted XDFi's innovative KYC token, which raises security and compliance in the blockchain space, and the upcoming unique decentralized dividend system, opening a new paradigm in tokenomics. You can find the episode here:
You should also check the How to Section on XDFi’s homepage for a simple step-by-step guide on how to get started with the platform.
We wish XDFi much success with their protocol!
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