Stablecoins Becoming Margin Asset of Choice A big change is coming about in BTC market structure....The vast majority of futures open interest was margined by actual BTC as collateral....positions (BTC) to cash margined positions (stablecoins)....At the same time, coin margined open interest has been trending downwards since Apr. 2021. ...

What started as an experiment in synthetic pricing and margin trading is now one of the biggest success...Getting back to the point at hand, it’s really difficult to ignore this growing trend of synthetic margin...Source: Dune Analytics / @DrEthereum Overall, it’s clear synthetic margin trading is exhibiting strong...

Synthetic margin trading encompasses protocols like GMX, Gains Network, MUX Network, and Mycelium....uninitiated, these are DEXs that import pricing from more liquid trading venues to facilitate a UX-friendly margin...swapping functionality, volume composition on the DEX shows us that the vast majority of volume comes from margin...

(00:00:16): Full time in crypto four years, but I’ve been looking at it and kind of dabbling at the margins...And then, second is that decentralization has declining marginal utility....It’s marginal, modern improvement. Okay. Improvement, slight improvement, small improvement....I agree with you on the declining marginal utility of decentralization, too.

Chart of The Day: GMX Users Increase Through Integrations  GMX is a DEX and margin trading platform...Chart of The Day: GMX Users Increase Through Integrations  GMX is a DEX and margin trading platform that...

Yet Maker’s native governance token, MKR, underperformed the so-called blue chips by a wide margin during...cheaper than borrowing DAI, but secondary money markets have a wider range of assets to lend/borrow and marginally...DeFi protocol by TVL, Maker's governance token, MKR, has underperformed fellow blue chips by a wide margin...

Yearn’s sustainable liquidity incentives derive from Yearn’s ability to capture the marginal risk-adjusted...Yearn’s decision to optimize for security makes marginal AUM more likely to flow to Yearn....Therefore, it is most likely the protocol that can innovate on the Strategy margin to capture long-term...

Aevo’s Margin System Aevo incorporates a three-part margin system that allows them to facilitate margin...The portfolio margin is derived using the sum of two other margin methods: scenario margin and floor...margin....The combined margins are then used to calculate the initial and maintenance margin of the portfolio.

Introduction  Level Finance is an oracle-based margin and spot trading decentralized exchange (DEX)...Level Finance is an oracle-based margin and spot trading decentralized exchange (DEX) that emerged following...

Binance’s Cash Margined OI Back to Pre-Correction Binance’s BTC open interest took a hit with the recent...sell-off, and cash-margined positions have led to the recovery in OI....Cash margined OI recovered to pre-correction levels, while crypto margined OI is relatively flat.

...in its margin lending pools continues to increase....Under cross-margin, a trader can use a single pool of capital as margin for all of their positions....The other method of margin is isolated margin, where a trader must post their initial margin (5-10% on...

Margin traders are affected by OI skews....Cross-margin is extremely difficult to implement on-chain....Cross-margin brings much-needed capital efficiency to DeFi....Vertex Strengths: Vertex is the first cross-margin perps exchange in DeFi....Feature-wise, Vertex is only lacking isolated margin and limit orders.

A native margin system enables undercollateralized and leveraged trading on Zeta....The margin system used by Zeta introduces a feature called “strategy accounts.”...Mark price serves an important role in the margin system as it is used to manage a user’s margin account...margin check.

...on large portfolios without the need to create separate margin pools for spot, perps, and options....vs coin-margined perps), which was capital-inefficient and a headache....This should equate to roughly 80-90% less margin required for a basis trade....This is similar to what Robinhood (or banks) do with client cash, net interest margin.

The risk parameters include things like initial margin, and help gauge the appropriate maintenance margin...When collateral margined is more than initial margin, the position is safe and will continue to be active...When margin dips below initial margin but is higher than maintenance margin, the collateral manager will...

Summary dYdX is a decentralized derivatives exchange for perpetual swaps and margin trading....popular decentralized trading protocol with over $300M in total trading volume already on its cross margined...

There are two types of margined contracts available to market participants: coin margined and stablecoin...margined....Stablecoin-margined contracts use stablecoins as collateral for these same positions....When prices start to decrease is when issues arise for coin-margined collateral.

...out by the launch of further meme farming initiatives (see $PASTA and $HAM). dYdX, the decentralized margin...So these oracle performance improvements allow for lower margin requirements, which means higher maximum...This will also enable cross-margin where users can trade multiple perpetual contracts from the same margin...

A shift in preferred margin assets in the derivatives market is also causing a change in market dynamics...With more traders using cash as margin, and less using the coin itself (BTC or ETH) as margin, this means...The shift from coin-margin to cash-margin has also spelled trouble at BitMEX.

Their profit margins are close to 100%. Imagine if they had a token....DEX Aggregator Wars 1inch is still the leading DEX aggregator by a large margin.