BZX REVIEW:BzX NETWORK DECENTRALIZED MARGIN LENDING AND MARGIN TRADING PLATFORM

elvisdika1 (34)in #blockchain • 6 years ago (edited)

Introduction:
This isn't really an exchange, but a protocol that can be unified into the present exchange platform. Exchanges and relays are stimulated by stipend designated in the BzX protocol token (BZX) to tender decentralized margin lending and margin trading services. Assets are valued and reimbursed by competing oracle providers. BZx is built on Ethereum and combined with the 0x protocol. It is the first fully decentralized, peer to peer margin funding and trading protocol.
Though decentralized exchanges are a lot better than centralized exchanges, they still have a lot of challenges such as low liquidity and large spreads. These exchanges often face problems in finding the buyers and sellers. It can result in poor prices and complications associated with filling large orders. The large spreads occur when there are large gaps between asks and bids.

The BZX platform acts as a bridge between the centralized and decentralized liquidity pools. These pools make use of the tokenized margin loans. The participants can access the whole margin lending market by using BZX’s universal liquidity that ensures there are tighter spreads and less slippage.
THERE ARE THREE MAIN COMPONENTS OF BZX
. bZx.js Library : the JavaScript library is used to integrate b0x to extant relays and exchanges, and procreate the front end interface for users to access funding on decentralized Exchanges.
. bZx Portal : is a web based dApp, Through this portal, lenders and traders can make and take orders and manage their loans.
The bZx portal is a decentralized web application that also serves as a front end for the b0x protocol.
. b0x Smart Contracts : it is the smart contract protocols responsible for managing funds, orders, and furthering the platform.
. The Oracle layer. This is a service that monitors and manages the situation of funds in margin accounts, liquidating funds when necessary.
Benefits of using the BZX platform:
The most important benefits of the BZX platform includes the following:
. Minimizing the risk: Whether you want to borrow the money or lend the money, you should be in control. The BZX platform offers a complete control and you don’t need to panic if the exchange gets hacked and funds are stolen because BZX will protect your funds.
. Low fees: All traders that are connected with the centralized exchanges pay a hefty amount as fees for using their services. They also pay expensive interest rates for the loans on centralized exchanges. The danger of getting hacked is always associated with the centralized exchange, but there is no such issue with BZX. The platform charges very low interest rates and it is decentralized.
. Passive income: The BZX helps its holders in making more money by using your wallet’s assets. It will prevent you from surrendering the full control of your assets. The interest rates on margin loans would be higher than the traditional loans and these margin loans would be much safer.

The bZx token
The primary function of the bZx tokens is to correlate networks of rational economic agents around a protocol. All of this is done in a hope to facilitate the addition of continuous, decentralized updates to the protocol. Nonetheless, the developers of the b0x token have made a commitment to seek out feedback from the community, information regarding the governance plans for the b0x token will be released to potential investors before the crowdsale.
There will be 1 billion tokens available. Five hundred million of those tokens will be available at the presale. The presale hard cap will be $7.3 million, and the hard cap at the crowdsale is $29.22 million.