It has been two months after we participate Heco’s “WE MAKE FUTURE” project, but we have not released any information about it since we are under security audit by Certik, which have finished by now, and we start testing our system on Heco test net soon after launched on TRON. Now it is the time to announce that YFX released on Huobi Heco Chain. Also, we are the one and only derivative DeFi project on Heco.
We have received a lot of questions on twitter or in our community to ask why YFX not launched on Ethereum, I know everyone is looking for new DeFi project on Ethereum and to trade their token at Uniswap. The reason for that is expensive gas fee and low TPS. To open a position on Ethereum will cost you 10 bucks and it can’t guarantee you can open a position in time. If you really want to use YFX on Ethereum, we may release a version on test net before our layer 2 solution released.
Heco is a faster and cost-efficient public chain, with HPOS, it allows extremely low gas fee to using smart contract. It has not only been developer friendly but also user friendly. What’s more, there are lots of traders on Heco, being the first and only derivatives trading DeFi project, we are confident to attract traders. These users could also benefit YFX to improve user experience.
Since we finished our develop on TRON, it’s not been hard to migrate our code to other public blockchain. Our first principle is to keep everyone’s assets could safely stay in smart contract, not hacked by someone else. After we received Certik’s security auditing report, we made some improvements on our code and test it for weeks. We are confident about our trading design and code safety, it’s time to move to the next stage.
YFX never be an isolated DeFi project, the value of derivatives trading DEX is to work with other DeFi projects. There’s lot of active DeFi projects on Heco, like Mdex, Basis Gold, it’s a good opportunity for us to build DeFi Legos on top of these project. Just like Uniswap not just benefit for themselves but also benefit the whole DeFi industry.
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