Unimex, a Uniswap-Based Borrowing Platform, Partners With Murtha and Burke Marketing
Murtha & Burke marketing has added UniMex to its growing list of partners.
NEW YORK, USA, December 7, 2020 /EINPresswire.com/ — The decentralized and algorithmic market trading mechanism, UniMex has been confirmed as the official trading partner to Murtha and Burke Marketing. With Uniswap facilitating the margin trading of native Uniswap tokens, its partnership with Murtha and Burke marketing promises to create much-needed attention to the public.
UniMex is a Uniswap based DeFi protocol (Decentralized finance) which promotes the margin trading of native Uniswap tokens. Presently, there is no simple way to short or long these tokens despite the hundreds of millions of dollars of aggregated daily trading volumes that those projects attract and the $2 billion liquidity pooled in the protocol. UniMex plans to solve this problem.
UniMex has smart contracts (lending pool contracts) that permit the lending of specific ERC-20 tokens so that margin traders can borrow them for leveraged trading. However, UnimMex only enables the creation of lending pools that are trading within an ERC-20 — ETH Uniswap pair. i.e trading pairs within ERC-20 — ERC-20 will not have lending pools.
Asides from the lending pool contracts, UniMex also offers its users margin trading. Every trader must stake ETH denominated collateral in a central account before they can begin margin trading. When the appropriate collateral (No other asset beyond ETH) has been staked, the margin trader will be able to borrow ETH and ERC20 tokens from suitable lending pools.
The decentralized finance protocol provides generous leverage over a range of 1x-5x depending on the liquidity of the ERC20-ETH Uniswap trading pair and the soundness of the project defined by the ERC20 token. Therefore, a trader would be allowed to borrow a multiple of the value of his ETH collateral in the related asset up to the maximum leverage multiplier available for the particular asset.
In a recent tweet, the platform has announced that it is set to go live before the 13th of December. Also, Its UMEX token is already listed on CoinMarketCap and CoinGecko.
All UMEX tokens are under team control including the 250k swap and 250k YIELDX airdrops. All were sent to its team wallet and locked up till the 15th of December, which is after the platform release. This was done solely to just prove that the team will be delivering tokens before then, and investors are safeguarded.
Decentralization is a principle which UniMex endeavors to uphold. So after the deployment of the platform, users will have the option to either stake UMEX or to burn YIELDX to affect key protocol changes such as endorsing the creation of new lending pools.
For more info about UniMex including airdrops, listing, and UMEX price, join our Telegram group.
About UniMex: UniMex is an innovative on-chain margin-trading platform entirely contained within Uniswap. This means that shorts/longs are directly executed on Uniswap, rather than through an off-chain approach e.g. through a 0x relayer. Margin traders are charged fees that are disbursed to lenders as a reward for supplying liquidity to lending pools.