π Introducing One-Click Shorting on Tectonic Finance!
Did you know that you can now easily short crypto assets on Tectonic Finance?
π Shorting on Tectonic Finance empowers traders with a powerful strategy to profit from declining asset prices.
Gone are the days of complex processes if you wanted to short a crypto asset on Tectonic. In the past, you had to:
π Supply collateral (e.g $USDC)
π Borrow the desired token for shorting
π° Sell the borrowed token for $USDC
π¦ Add the $USDC as collateral
π Benefit from price drops and buy back at a lower cost
π Repay the borrowed token to close your position and realize profit
Now, a NEW update brings all of this under one button! The process is simplified, offering you a seamless path to capitalize on opportunities.
In addition, we have integrated with @WowmaxExchange, which is a DEX aggregator. Our aim is to find you the best swap rates, making shorts even more capital-efficient.
Now let's talk use cases:
π Use Cases:
1οΈβ£ Speculation: Leverage up to bet on tokens you predict will decline. Short against USDC, foresee a token's price drop, and swap it for more USDC.
2οΈβ£ Hedging: Safeguard against short-term volatility without selling assets. Minimize downside risk and manage potential opportunity costs by shorting tokens.
Tectonic's shorting feature unlocks efficiency and potential rewards.
It is the third tool in our leverage management series, and it will be available on September 14, 2023.
πon!
βNever share your secret phraseβ is the one rule echoing around the crypto space like a broken record. Day in, day out.
Why? Because doing so usually meant parting ways with your assets.
Can you imagine a world where this wasn't true?
#MultiversX and #xPortal made it happen.