A DEX Platform, Logium, Announces Its Imminent Beta Launch

A DEX Platform, Logium, Announces Its Imminent Beta Launch

Logium, the first decentralized exchange (DEX) platform that allows users to trade and wager on any token listed on Uniswap or thousands of ERC-20 tokens, launched on 11th of July, 2022. 

Logium, the first decentralized exchange (DEX) platform that allows users to trade and wager on any token listed on Uniswap or thousands of ERC-20 tokens, launched on 11th of July, 2022. 

Logium users will be able to trade long and short bets with leverage, apply multipliers and attempt to forecast the future value of any token listed on Uniswap. Currently, not all Uniswap tokens are accessible for purchase. However, these tokens will be readily available once the official version has been launched. 

The platform eliminates the issue of decentralized finance and sets the derivatives market on a path toward freedom. Logium's mission is to build a well-known decentralized exchange (DEX) platform with numerous features that align with market demand and prioritize the requirements of its user base. 

Additionally, users are exempt from going through the KYC procedure. People can swiftly place their bets using this method; even if the exchange is hacked, the information will not get into the wrong hands.

Customers may trade directly from inside the app using their wallets when they use Logium. This is a significant step toward making sure your money is secure and moving in the right direction. However, when using leverage on other prominent centralized exchanges, users do not have complete control over their assets and thus do not have broad access to new tokens.

The act of placing or accepting a bet does not incur any expenses, other than Ethereum network fees. Logium only gets a small fee when a bet is settled, taken out of the prize pool and given to the winner.

Users can also place bets on any Uniswap token, regardless of how liquid the token is. This is an intriguing use of the platform's capabilities. Additionally, everyone can place bets with other users on shorting or lowering any token of their choice. If you don't believe in meme coins or think that 90 percent of the altcoin market is not worth the current prices, you can bet on it on app.logium.org

How Does Logium Function?

The P2P betting system lets users use leverage and trade any asset available on Uniswap. For example, using Logium, customers can trade long and short bets on leverage for more than 500 cryptocurrencies.

Users can only lose up to the amount they have already staked in a wager on Logium. Logium, much like the majority of other leveraged platforms, does not have a negative balance. It is impossible to lose more than you first invested. Additionally, placing bets does not cost anything at all.

The only person who can win and earn their opponent's stake back according to the rules is the one who correctly predicts the asset's price. Users are paid after a certain period, which may be one hour, six hours, one day, seven days, or thirty days.

Logium Is Contributing To the Solution of a Variety of Issues

More than 500 cryptocurrencies that are listed on Uniswap will be available for long (UP) and short (DOWN) bets, also known as options or positions. The dApp will provide these bets. Each bet is resolved after a certain length, ranging from one hour to one month.

During the beta testing phase, the platform is compatible with WETH, HEX, WBTC, APE, and SHIB. Logium wants to decentralize the process of listing additional assets in the future. This will make it feasible to place bets without trusting the other person and will put an end to censorship.

All bets are secured by USDC deposits made by the users.  Bettors may use a single deposit to place an unlimited number of bets; however, once a sufficient number of bets have been accepted to exhaust the funds in the deposit, all additional wagers are void. In addition, since bets are put in using Ethereum messages, there are no gas expenses.

Logium has the potential to perform well in both rising and falling market conditions. This enables users to profit from the volatility of crypto assets and pushes issuers and takers to do in-depth research on the asset on which they want to place a bet. The sooner the platform lists all of its currencies, the more comments and suggestions it will get from its customers.

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.

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