Demex Partners With Secret Network: Demex Launches The SCRT Trading League
Demex and Secret Network have forged a powerful partnership aimed at revolutionizing trading opportunities for the Secret Network. Demex has launched the first fully on-chain derivatives markets for SCRT, opening doors for traders to go long on the token with leverage. Moreover, Demex has introduced a perpetual pool supporting the SCRT-PERP market, allowing liquidity providers to become market makers and earn lucrative liquidity incentives. To celebrate these milestones, Demex is hosting the SCRT Trading League, offering traders enticing prizes.
Demex Pioneers SCRT-PERP Market
Demex, a cross-chain derivative DEX catering to traders, is making waves by introducing the SCRT-PERP market. This innovative move positions Secret Network's community to leverage their portfolios and trade perpetual contracts without creating sell pressure on the SCRT token. Demex's prowess in launching diverse perpetual markets, including pre-launch markets, grants traders unique advantages, enabling them to stay ahead of market movements and capitalize on early opportunities.
Demex Perp Pools: Revolutionizing Liquidity Management
Demex introduces the SCRT Perp Pool, a groundbreaking liquidity pool designed to act as an automated market-maker for the perpetual markets it supports. This pool allows anyone to become a liquidity provider by offering stablecoins as collateral, with the added incentive of earning from traders' profits, funding fees, maker and taker fees, and more.
To sweeten the deal, the SCRT-PERP pool comes with an additional incentive of 3,000 SCRT tokens, distributed proportionally to liquidity providers based on their contribution! The incentives will be paid out manually.
The SCRT Trading League
To celebrate the launch, Demex and Secret Network are co-hosting the SCRT Trading League, an exciting competition where traders can win from a prize pool of 12,000 $SCRT tokens. Liquidity providers, too, can get in on the action, earning from a dedicated incentive pool of 3,000 $SCRT tokens. With a grand total of 15,000 SCRT tokens up for grabs, participants are encouraged to register, connect their wallets, and start trading SCRT or other perpetual markets to secure their spot in the race!
Promising Future Prospects
This partnership marks just the beginning of a strategic alliance between Demex and Secret Network. Future plans include listing SCRT on Nitron, hosting collaborative events, and the potential for exciting surprises on the horizon.
Bridging axlUSDC: Your Gateway to Demex Trading
For Secret Community members new to Demex, accessing perpetuals trading requires obtaining USD(G), Carbon's stablecoin. Follow these steps to bridge and deposit your native axlUSDC on Demex:
1. Bridge over your USDC.axl from Secret Network to Osmosis using the Shade App’s bridge.
2. Once bridged to Osmosis, deposit the USDC.axl to Demex after connecting your Keplr or Leap wallet.
3. Your USDC.axl will be auto-converted at a 1:1 ratio to USD(G). Withdraw USD(G) to USDC.axl at any time.
4. Congratulations! You are now ready to trade on the SCRT-PERP market or provide liquidity to the SCRT Perp Pool.
About Secret Network
Secret Network stands out as a blockchain platform offering privacy-preserving smart contracts, enabling decentralized applications without compromising user data. Built on the Cosmos SDK and Tendermint consensus engine, Secret Network prioritizes interoperability and scalability. The community, known as "Secret Agents," actively tests and enjoys new applications while advocating for web3 privacy online and at events, putting users in control of their sensitive data.
About SCRT
SCRT serves as the native cryptocurrency of Secret Network, playing roles in gas fees, governance, and staking for network security. Represented by the symbol 𝕊, enclosed within a circle, the Secret 𝕊 symbolizes the duality of secrets: privacy and transparency. Users benefit from private interactions with "Secret Tokens," enabling activities like NFT transactions, DeFi participation, private payments, data/content escrow, and maintaining financial privacy.
The TLDR
Demex and Secret Network partner to introduce the SCRT-PERP market and SCRT Perp Pool, creating exciting trading opportunities. The SCRT Trading League offers a chance to win from a pool of 15,000 SCRT tokens. Secret Community members can seamlessly access Demex by bridging axlUSDC. The strategic partnership promises more collaborations and surprises in the future!