- CVI, a DeFi platform the place customers can commerce an index monitoring anticipated cryptocurrency market volatility, has enabled ETH deposits
- The CVI group additionally says that they’ve laid the groundwork for margin buying and selling
- Customers can earn CVI’s governance token GOVI by buying and selling on the platform or supplying liquidity
CVI now helps ETH deposits
Customers who assume that the anticipated volatility within the cryptocurrency market will improve (or need to hedge towards that chance) can now use ETH to purchase a place in CVI.
Alternatively, ETH can now even be used to provide liquidity to the CVI platform’s swimming pools – that is the choice for many who assume the anticipated volatility will both keep flat or drop. By doing so, customers can acquire a share of the premiums generated by the platform.
Each merchants and liqudity suppliers can even earn rewards within the type of the platform’s governance token GOVI. Every time a dealer buys a CVI place, they’re rewarded with GOVI tokens. In the meantime, liquidity suppliers can earn GOVI by staking their LP tokens.
Alongside the assist for ETH deposits, the CVI group additionally highlighted different key developments for the platform. The group expects to chop down gasoline prices related to utilizing CVI by an additional 18%, making the gasoline prices 60% cheaper than they had been at launch. The group additionally says they’ve laid the muse for margin buying and selling, which is able to make CVI much more versatile:
“One other main infrastructure enchancment achieved was including the groundwork for margin buying and selling, which might deepen potential use circumstances and commerce eventualities, and maximize the capital effectivity of place holders, for instance, those that open a place in search of safety from impermanent loss.”
In keeping with CVI’s roadmap for the primary half of 2021, the group plans to launch margin buying and selling in Q2. Among the different milestones that we are able to count on within the second quarter are integration with TradingView and Keep3r, in addition to the launch of a voting platform for GOVI token holders.
At present, the CVI platform has $3.3 million in complete worth locked (TVL). The CVI index has dropped from a peak of 133 on February 24 to 103 on the time of writing, displaying that anticipated volatility within the cryptocurrency market has declined.