OIN Finance announced this Thursday, February 17, through its Twitter account, its new partnership with Spin DEX, which, according to the company, is building a DeFi derivatives infrastructure on the NEAR Protocol.
“Earlier this month, Spin announced the launch of its first DEX chain order book on the NEAR Protocol testnet which already has core order book functionality. Once the APIs and fees are integrated and the market makers are onboard, Spin will become the mainnet. After that, Spin plans to move forward with building an infrastructure for on-chain derivatives trading on the NEAR Protocol”, he said in an article posted on the Medium platform.
The Asociation
• OIN token will appear in Spin Spot DEX
• nUSDO will win pairs on the Spin Spot DEX
The firm explained that this partnership comprises future listings of OIN Finance and nUSDO tokens on Spin DEX, signaling to market makers, liquidity providers, traders and NEAR holders that they are ready to move into leveraged yield farming and earn massive rewards. Users thus gain more access to OIN and nUSDO tokens. In fact, a huge win for both communities!
Similarly, he commented that Spin’s spot DEX will serve as the basis for the eventual implementation of NEAR’s on-chain derivatives trading protocol on the NEAR platform in the future. The order book solution combined with stablecoin staking pools provides the optimal combination of security and speed for derivatives markets that never allow traders access to liquid assets.
In his view, Spin also allows users to profitably de-risk and hedge their positions with derivatives of underlying crypto assets, unlocking the potential of decentralized futures and options trading, allowing easy access to these strategies with the OIN and nUSDO tokens.
Also read: Zenlink announced partnership with Frax Finance
About OIN Finance
It is a decentralized multi-chain stablecoin issuance platform. With a robust set of features such as single vault liquidations and private label stablecoins, we provide turnkey stablecoin issuance solutions for everyone, including Tier 1 partners.
About Spin
It is a DeFi derivatives infrastructure based on the NEAR protocol. Spin’s on-chain orderbook solution is a reliable and scalable L1 solution that brings a competitive CEX experience to DeFi users.
