Ooki is live on Binance Smart Chain
Announcements

Ooki is live on Binance Smart Chain

Community Contributor
Community Contributor

Ooki is pleased to announce that decentralized margin trading, borrowing and lending products are now available on Binance Smart Chain.

Ooki is bringing DeFi to Binance Smart Chain (BSC) starting with Ooki’s margin trading, borrowing, and lending.

💰What is Binance Smart Chain?

Ooki will remain primarily an Ethereum focused protocol. However it is expanding its product offering to products and services on Binance Smart Chain. Users on Binance Smart Chain will now have access to Ooki products, while also benefiting from BSC’s low fees and fast transactions.

Binance chain is a centralized blockchain, built on a similar foundation to the ethereum blockchain. However compared to ethereum, BSC modified critical parameters which favor transaction speed and decreased costs at the expense of decentralization. BSC uses a consensus mechanism called Proof of Staked Authority (PoSA), which is governed by merely 21 validators, making it relatively centralized compared to Ethereum, with thousands of nodes. By reducing the number of nodes, BSC is able to process a greater number of transactions every second, and reduce transaction fees and gas costs compared to the ethereum network.

🥞Trade With Leverage On PancakeSwap

PancakeSwap is a decentralized automated market maker (AMM) exchange running on Binance Smart Chain that allows two tokens to be exchanged on the Binance Smart Chain. PancakeSwap gives users a simple way to trade one BEP-20 token for another via automated liquidity pools. The liquidity provided to the exchange comes from Liquidity Providers (“LPs”) who stake their tokens in “Pools”. In exchange, they get FLIP (PancakeSwap Liquidity Provider) tokens, which can also be staked to earn CAKE tokens in the “farm”.

Ooki is pleased to announce that it is the first and only platform enabling margin trading to occur over PancakeSwap using intelligent routing, so users are always given the best possible rate.