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Baymax Finance – The next level DEX on Avalanche.
Perpetual futures are immensely popular in the cryptocurrency market. They have become a favored product among traders, so much so that perps make up more than 90% of trade volume on exchanges and the majority of open interest.
What separates perpetual trading contracts from traditional calendar futures is that the former have no expiry date. Popularly known as perps or perpetual, they are similar to futures contracts except that they do not have an expiration date, meaning traders can hold a position open indefinitely and never have to worry about the contract rolling over or expiring.
Another reason for their popularity could be the less attractive cash-and-carry trade, where traders take advantage of the inefficiencies between the spot and futures markets.
When it comes to trading perpetual contracts, decentralized protocols are the future. Today, there are many decentralized DEXs where you can trade perpetual contracts, but they face problems in the form of high slippage, high costs, and inadequate tool support.
In that context, Baymax Finance was born.
Baymax Finance is a decentralized perpetual contract trading protocol that allows its users to trade with up to 30x leverage. In addition, the platform has a native token, BAY, to enable a robust ecosystem around governance, rewards, and staking to further drive future growth and decentralization of Baymax for a better user experience.
Baymax aims to become the best solution for traders who intend to stay in control of their funds at all times without sharing their data. Its simple but innovative design gives it many advantages over other DEXes.
- Minimal transaction fees
- No price impact, even for large order sizes
- Protection against liquidation events: the sudden changes in price that can commonly happen in one exchange ("scam wicks") are smoothed out by the pricing mechanism design
- All-in-one platform: spot and also leverage trading
Real yields: Huge revenue for our protocol will be generated, and it has always been our business to distribute this protocol revenue to our token holders. (Expect even larger revenue with more distribution).
Capital efficiency: Baymax doesn’t require a huge TVL to power all trading needs at optimal trading volume.
Better yields and low risk for liquidity providers: BLP is a really attractive token for liquidity providers simply because it represents and tracks the value of the largest cryptocurrencies. It provides a meaningful hedged position for liquidity providers, where the BLP token gains value (APR) from trading fees accrued. In addition, there will be nearly zero risk for holding BLP as you could redeem for any token in the pool asset anytime.