SINGAPORE, Sept. 28, 2020 /PRNewswire/ – Active crypto prediction marketplace HedgeTrade launches decentralized exchange and DeFi token for liquidity providers and yield farming earning opportunities.
HedgeTrade is pleased to announce a closed-loop DeFi initiative to add new ways to earn tokens in conjunction with its leading crypto social trading platform.
“Steaks Finance is the realization of everything about DeFi done right — no pre-mine, no investors, and no advisory tokens. Like other DeFi platforms, Steaks is designed to exist in perpetuity on its own, but by integrating with HedgeTrade, we create a closed-loop ecosystem and create a practical application for STEAK tokens,” David Waslen, CEO & Co-Founder of HedgeTrade and Steaks Finance said. “By layering in DeFi models, we will be creating a community-driven ecosystem where you can farm, stake, use, trade, govern, and earn STEAK and HEDG tokens.”
Steaks Finance addresses the need for proper long-term use cases for DeFi tokens — allowing users to do more than provide liquidity and earn a portion of the swap trading fees. With Steaks, users can yield farm STEAK tokens and will eventually yield HedgeTrade commissions as well as vote on how the protocol evolves. Combining these models will make this an unprecedented all-in-one ecosystem.
“With Steaks, HedgeTrade is answering the gaps left by other DeFi initiatives — allowing you to earn beyond farming and trading fees which is by integrating with an already viable platform that allows you to earn both STEAK and HEDG tokens in multiple ways,” Waslen said.
Steaks will distribute future fees from various HedgeTrade business lines into the Steaks platform. For example, commissions generated on HedgeTrade will be distributed to STEAK holders via the Steaks “SteakBar” pool. In that way, the STEAK yield farming will not end, even when STEAK genesis distributions end.
Over the next six months, the team will also focus on expanding the HedgeTrade/Steaks Finance ecosystem, and work towards:
Integrating HedgeTrade with exchanges and our SteakSwap DEX to enable frictionless trading after unlocking predictions
Enabling HedgeTrade users to not only unlock (purchase) another trader’s prediction but also stake against other traders or stake alongside the trader (i.e., modified binary options)
Utilizing Steaks infrastructure and HedgeTrade trading data to build an automated robo-advisor and launching a decentralized index fund and high-frequency trading pool
Fully examining the viability of decentralizing HedgeTrade entirely
Evaluating the HEDG token economics, including burning significant supply
Introducing predictions on publicly traded assets (stocks, forex, commodities)
Expanding HedgeTrade’s universe of predictions beyond trading (sports, eSports, etc.)
The launch of Steaks Finance is a natural fit and evolution for HedgeTrade. It enables a fair opportunity for people to earn a new token which can be swapped for HEDG tokens to be used on HedgeTrade. The goal is to create value for the HedgeTrade ecosystem — and bring the entire platform one step closer to being fully decentralized.
About Steaks Finance
Steaks Finance is a decentralized exchange and Fair Launch DeFi Token that can only be yield-farmed on steaks.finance.
To learn more, visit Steaks.Finance or @SteaksFinance.
HedgeTrade is a blockchain-driven social trading platform where the world’s best traders share their knowledge. Traders post predictions into a smart contract-powered Blueprint that users can purchase or unlock in order to access. When the Blueprints are correct, traders are rewarded, otherwise, the user’s purchase is refunded.
To learn more, visit HedgeTrade.com or @HedgeTradeHQ.
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