YFX is thrilled to announce that YFX V3 Decentralized Perpetual Exchange is now available for trading on the Arbitrum blockchain. YFX V3 is the third upgraded version of the YFX protocol, bringing many new features and improvements to its old version.
The YFX team is firmly committed to the continuous development of the decentralized perpetual trading protocol. Each version of the YFX protocol is open source on Github and has completed the Certik audit. Since its launch on January 2021, there has been no security breach to YFX smart contracts.
Official Website: https://www.yfx.com/
Launch App: https://app.yfx.com/
Audit Report provided by Certik: https://skynet.certik.com/projects/yfx
GitHub Code: https://github.com/yfxcom
Mainnet Information
YFX V3 is deployed on Arbitrum.
Arbitrum Mainnet Parameters:
ChainID: 42161
Currency: ETH
RPC URL: https://arb1.arbitrum.io/rpc
Explorer: https://arbiscan.io/
To start trading & earning on YFX V3 decentralized perp exchange, users only need to go to https://app.yfx.com/ to launch the YFX app and connect their crypto wallets to the Arbitrum blockchain. To transfer assets from other chains to Arbitrum, please read this article from Arbitrum developers: https://developer.arbitrum.io/getting-started-users.
New Features
Based on users’ feedback and industry developments, YFX has made some important improvements to the YFX V3 protocol, making it more decentralized and in line with user habits.
YFX V3
- Uses Chainlink Oracles for pricing
- Utilizes multiple single-asset fund pools based on the risk of the underlying assets
- Adds borrowing & funding fees
- Introduces a new Referral program that offers up to 30% transaction fee rebate for inviters
- Supports both one-way mode and hedge mode for position modes
- Establishes a new Earn system for liquidity providers
Perpetual Contracts
As of now, users can trade the following perpetual contracts on YFX. YFX will add more contracts in the near future.
*BTC_USD and ETH_USD markets will share a USDC pool (USDC1 Pool), and ARB_USD market will use a USDC pool (USDC2 Pool) alone.
Notes:
YFX V3 only supports USDC tokens officially released by Circle, not USDC.e tokens of the Arbitrum cross-chain bridge.
USDC contract address: 0xaf88d065e77c8cC2239327C5EDb3A432268e5831
Users can buy USDC tokens officially released by Circle at centralized exchanges like Binance, Bybit, and Kraken or swap tokens at DEXs like Uniswap.
Referrals
YFX V3 introduces a new referral program that allows invitees to enjoy a transaction fee discount and inviters to earn transaction fee rebates whenever invitees trade on YFX. The maximum rebate rate is 30%, while the maximum discount rate is 10%.
The transaction fee rebate is credited to the inviter’s wallet in real time after each invitee’s transaction is confirmed on the chain. The inviter can get 1 URP token (Referrals Proof) for every 1 USD traded by the invitees. There are five tiers of transaction fee rebates and discounts. When the inviter’s URP accumulates to a certain amount, users can burn all URP tokens and move up a tier level.
YFX provides an additional business affiliate program for KOLs, community leaders, media organizations, and data navigation websites. If you are interested, please contact us at contact@yfx.com. Our team will get in touch with you soon.
Earn
The new Earn system will be introduced very soon. It will allow users to stake YFX, YLP, or other tokens to earn YFX tokens and transaction fees in ETH / WETH as rewards. Follow our official Twitter account and join our Telegram channel for the latest update on YFX Earn.
