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BSXA New Chapter: BSX Joins RISE Labs to Build the Future of Onchain Trading
Announcing the BSX DEX wind down plan, the sunset of the BSX token, and the upcoming RISE token airdrop for all BSX holders. We are thrilled to announce a landmark moment for our community: BSX Labs has been acquired by RISE Labs. Our team and cutting-edge technology are integrating into the RISE ecosystem to accelerate the next era of onchain trading infrastructure. This milestone propels our shared vision forward, to build the first fully onchain, synchronously composable orderbook primitiv...
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BSXA New Chapter: BSX Joins RISE Labs to Build the Future of Onchain Trading
Announcing the BSX DEX wind down plan, the sunset of the BSX token, and the upcoming RISE token airdrop for all BSX holders. We are thrilled to announce a landmark moment for our community: BSX Labs has been acquired by RISE Labs. Our team and cutting-edge technology are integrating into the RISE ecosystem to accelerate the next era of onchain trading infrastructure. This milestone propels our shared vision forward, to build the first fully onchain, synchronously composable orderbook primitiv...
BSXBSX Season 3 - The Road to TGE and Beyond!
Recap: September 2nd marks the end of Season 2. Since its start, BSX trading volume has more than doubled to $4.3 billion, and our trader base has quadrupled to 14,000 users. We also announced the total 6.2M raise for pre-seed and seed round, led by Blockchain Capital with earlier investment from Base Ecosystem Fund. We are committed to build the core DeFi protocol for derivatives trading and beyond on top of Base. During this period, the BSX protocol generated over $1 million in revenue and ...
BSXBSX Security Incident: Root Cause Analysis & Post-Mortem
I. BSX Platform Security Update and Response to Recent IncidentBSX is committed to the security of our platform and the trust of our users. We are providing an update on a recent security incident that affected a specific component of our ecosystem. Our team, in collaboration with our external security partner ZeroShadow, has conducted an initial investigation and taken decisive action.II. Incident OverviewThe incident involved a sophisticated exploit targeting a specific aspect of the token ...
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In the world of DeFi, capital efficiency remains a significant challenge, often preventing traders from fully leveraging their holdings. At BSX, we’re addressing this issue head-on with the introduction of our multi-collateral feature for non-US users (subject to our applicable terms of service). This innovative addition allows such users to utilize a variety of assets, beyond just USDC, to gain leverage when trading perpetual contracts. By enabling multi-collateral, we’re empowering such users to maximize their asset potential on the Base platform, enhancing their trading experience and capital efficiency.
Multi-collateral empowers qualified non-US traders on BSX to use a variety of assets as margin, significantly enhancing their trading capabilities and capital efficiency. Unlike most DeFi perpetual exchanges that limit collateral to stablecoins like USDC, BSX’s multi-collateral feature allows qualified non-US traders to leverage additional tokens they hold, such as $USDT and $cbBTC on Base. This increased flexibility enables such traders to maximize their asset potential and trading power, with more assets to be added soon.
Pro tips:
Users can now purchase spot $cbBTC directly on the newly launched BSX spot aggregator page to use this multi-collateral feature! We’ve sourced the best prices from Base DEXes to ensure you get the most competitive rates. Learn more here: https://medium.com/@bsx/bsx-spot-expanding-your-trading-horizons-with-spot-markets-005f920b8b29
Asset Variety: BSX initially supports assets such as $cbBTC as collateral, with plans to include other highly liquid assets in the future. If you have an asset you’d like to use as collateral, let us know in Discord!
Risk Management: Each asset has a collateral haircut—a multiplier that reduces its notional value to account for market volatility. For instance, the risk factor for ETH at launch is conservatively set at 75%, ensuring the platform maintains a buffer against sudden market fluctuations.
Natively Cross-Margining: BSX features native cross-margining, allowing qualified non-US users to share their margin balances across multiple positions. This enhances portfolio management and capital efficiency, enabling such users to leverage their assets without needing to liquidate or convert them.
The multi-collateral feature on BSX offers several key advantages:
Enhanced Capital Efficiency: By allowing multiple assets as collateral, qualified non-US users can leverage their holdings more effectively without needing to convert to stablecoins. This flexibility enables such users to maintain exposure to appreciated assets while actively trading.
Broader Trading Strategies: Qualified non-US users can implement diverse trading strategies. For instance, using ETH to long ETH positions allows such users to capitalize on market conditions without liquidating their assets.
Seamless Onboarding and Risk Management: At launch, all deposited assets will automatically serve as collateral, reducing friction and boosting users' account equity and trading power. Additionally, such users can opt for isolated portfolios to manage specific risks. Each asset has a collateral haircut to account for market volatility, ensuring a buffer against sudden market fluctuations.
Effective Liquidation Strategies: In the event of unfavorable market movements, BSX will implement an off-chain liquidation process using Automated Market Makers (AMMs) like Aerodrome or Uniswap. Understanding these mechanics helps such users make informed decisions regarding their positions.
Pro tips:
Monitor Margin Health: Make sure your margin health stays above 0% to ensure that you don’t get liquidated. Monitoring your account equity to your portfolio maintenance margin is critical to trading when leveraging multiple assets.
Initial Setup:
Alice deposits 1 $cbBTC valued at $65,000 and $1,000 USDT. Here $cbBTC is weighted at 75%
Alice’s Account Equity: $49,750 ($65,000*0.75 + $1,000)
Trading Positions and Margin Requirements:
Alice opens a $10,000 long position on BTC making her Account leverage ~0.2x
Initial Margin Requirement (IMR): $500 (5% of total position size)
Maintenance Margin Requirement (MMR): $333 (3.3% of total position size)
In the above situation Alice needs to ensure that her account equity does not fall below $333, or she will be liquidated. To monitor her portfolio's health, she can monitor her liquidation risk which looks at her Maintenance Margin over her Account Equity. As this number approaches 100% her risk of liquidation goes up.
The multi-collateral feature on BSX significantly enhances qualified non-US user capabilities, allowing for greater flexibility, improved capital efficiency, and an expanded array of trading strategies. As the DeFi space continues to grow, such users can leverage these advancements to maximize their trading potential, maintain exposure to valued assets, and ultimately achieve better returns on their investments.
By embracing multi-collateral, such BSX users are not just trading—they're optimizing their entire portfolio for success in a dynamic market environment.
You can start trading with multi-collateral here: https://app.bsx.exchange/trade
In the world of DeFi, capital efficiency remains a significant challenge, often preventing traders from fully leveraging their holdings. At BSX, we’re addressing this issue head-on with the introduction of our multi-collateral feature for non-US users (subject to our applicable terms of service). This innovative addition allows such users to utilize a variety of assets, beyond just USDC, to gain leverage when trading perpetual contracts. By enabling multi-collateral, we’re empowering such users to maximize their asset potential on the Base platform, enhancing their trading experience and capital efficiency.
Multi-collateral empowers qualified non-US traders on BSX to use a variety of assets as margin, significantly enhancing their trading capabilities and capital efficiency. Unlike most DeFi perpetual exchanges that limit collateral to stablecoins like USDC, BSX’s multi-collateral feature allows qualified non-US traders to leverage additional tokens they hold, such as $USDT and $cbBTC on Base. This increased flexibility enables such traders to maximize their asset potential and trading power, with more assets to be added soon.
Pro tips:
Users can now purchase spot $cbBTC directly on the newly launched BSX spot aggregator page to use this multi-collateral feature! We’ve sourced the best prices from Base DEXes to ensure you get the most competitive rates. Learn more here: https://medium.com/@bsx/bsx-spot-expanding-your-trading-horizons-with-spot-markets-005f920b8b29
Asset Variety: BSX initially supports assets such as $cbBTC as collateral, with plans to include other highly liquid assets in the future. If you have an asset you’d like to use as collateral, let us know in Discord!
Risk Management: Each asset has a collateral haircut—a multiplier that reduces its notional value to account for market volatility. For instance, the risk factor for ETH at launch is conservatively set at 75%, ensuring the platform maintains a buffer against sudden market fluctuations.
Natively Cross-Margining: BSX features native cross-margining, allowing qualified non-US users to share their margin balances across multiple positions. This enhances portfolio management and capital efficiency, enabling such users to leverage their assets without needing to liquidate or convert them.
The multi-collateral feature on BSX offers several key advantages:
Enhanced Capital Efficiency: By allowing multiple assets as collateral, qualified non-US users can leverage their holdings more effectively without needing to convert to stablecoins. This flexibility enables such users to maintain exposure to appreciated assets while actively trading.
Broader Trading Strategies: Qualified non-US users can implement diverse trading strategies. For instance, using ETH to long ETH positions allows such users to capitalize on market conditions without liquidating their assets.
Seamless Onboarding and Risk Management: At launch, all deposited assets will automatically serve as collateral, reducing friction and boosting users' account equity and trading power. Additionally, such users can opt for isolated portfolios to manage specific risks. Each asset has a collateral haircut to account for market volatility, ensuring a buffer against sudden market fluctuations.
Effective Liquidation Strategies: In the event of unfavorable market movements, BSX will implement an off-chain liquidation process using Automated Market Makers (AMMs) like Aerodrome or Uniswap. Understanding these mechanics helps such users make informed decisions regarding their positions.
Pro tips:
Monitor Margin Health: Make sure your margin health stays above 0% to ensure that you don’t get liquidated. Monitoring your account equity to your portfolio maintenance margin is critical to trading when leveraging multiple assets.
Initial Setup:
Alice deposits 1 $cbBTC valued at $65,000 and $1,000 USDT. Here $cbBTC is weighted at 75%
Alice’s Account Equity: $49,750 ($65,000*0.75 + $1,000)
Trading Positions and Margin Requirements:
Alice opens a $10,000 long position on BTC making her Account leverage ~0.2x
Initial Margin Requirement (IMR): $500 (5% of total position size)
Maintenance Margin Requirement (MMR): $333 (3.3% of total position size)
In the above situation Alice needs to ensure that her account equity does not fall below $333, or she will be liquidated. To monitor her portfolio's health, she can monitor her liquidation risk which looks at her Maintenance Margin over her Account Equity. As this number approaches 100% her risk of liquidation goes up.
The multi-collateral feature on BSX significantly enhances qualified non-US user capabilities, allowing for greater flexibility, improved capital efficiency, and an expanded array of trading strategies. As the DeFi space continues to grow, such users can leverage these advancements to maximize their trading potential, maintain exposure to valued assets, and ultimately achieve better returns on their investments.
By embracing multi-collateral, such BSX users are not just trading—they're optimizing their entire portfolio for success in a dynamic market environment.
You can start trading with multi-collateral here: https://app.bsx.exchange/trade
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