What is XYM Finance – A Decentralized Exchange Protocol on BSC (XYMF)

XYM Finance is a decentralized exchange protocol on the Binance Smart Chain (BSC). It offers a comprehensive platform that includes spot trading, perpetuals, and an integrated money market—all seamlessly integrated into a single application.

Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (XYMF/USDT – Trade it here) on the Innovation Zone! Check it out now!

What is XYM Finance - A Decentralized Exchange Protocol on BSC (XYMF)
What is XYM Finance – A Decentralized Exchange Protocol on BSC (XYMF)

Understanding What is XYM FInance

XYM Finance is a fully integrated decentralized exchange (DEX) operating on the Binance Smart Chain (BSC). It provides users with access to spot, perpetual, and seamlessly integrated money markets. Experience the advantages of universal cross-margin functionality paired with high-speed performance, empowering users to reclaim control over their trading activities.

This decentralized exchange protocol operates on a hybrid model. It combines a unified central limit order book (CLOB) and an integrated automated market maker (AMM). Furthermore, the liquidity is bolstered by positions from pairwise liquidity provider (LP) markets populating the order book, effectively minimizing gas fees and mitigating Miner Extractable Value concerns.

XYM prioritizes non-custodial control, allowing users to maintain full control over their assets on-chain. Furthermore, with low-latency trading and efficient liquidity utilization across various DeFi assets, XYM’s hybrid order book-AMM design and off-chain sequencer architecture facilitate optimal trading conditions.

The integrated on-chain AMM is managed at the smart contract level, while the off-chain sequencer acts as an efficient off-chain node, boasting execution speeds between 10-30 milliseconds—comparable to centralized exchanges (CEXs). The combination of AMM liquidity and automated trader liquidity via the sequencer results in a unified source of liquidity.

How Does the Perpetual Market on XYM Finance Work?

XYM’s Perpetual Markets offer users a platform for trading perpetual futures contracts. In contrast to traditional futures contracts, XYM’s perpetual futures lack an expiration date, allowing them to be held indefinitely. Furthermore, the contract price in XYM is linked to the spot price of the underlying asset through funding rates. These rates play a crucial role in regulating trading incentives by imposing a positive or negative carry cost on specific perpetual positions.

In situations where the perpetual’s price surpasses the spot price, traders holding long positions (anticipating a price increase) must pay a funding fee to traders with short positions (anticipating a price decrease). This funding fee acts to realign the perpetual price with the spot price. Conversely, when the perpetual’s price is lower than the spot price, short traders are required to pay a funding fee to long traders, incentivizing counteractive behavior.

What Are The Use Cases of XYMF?

XYMF is a utility token in the XYM Protocol code. Within the XYM ecosystem, XYMF functions as a utility token, providing users with various advantages. Its utility is strategically designed to establish an incentive structure that promotes sustained engagement and contributes to the overall health and development of the ecosystem.

The primary objectives of XYMF include rewarding varying levels of commitment to the protocol. It also emphasizes the importance of net-positive contributions for the extended growth of the decentralized exchange (DEX) over short-term perspectives. The utility of XYMF within the DEX encompasses several key aspects:

  1. Staking XYMT: Users have the option to stake XYM, contributing to the security of the XYM ecosystem.
  2. Rewarding Contributions: Variable rewards are offered for different levels of contributions and long-term commitments to the protocol. These rewards aim to incentivize ongoing participation, covering contributions such as transactions or trades on the protocol, off-chain marketing activities, and referral initiatives.

Where to buy XYMF Token

You can find XYMF Tokens here at MEXC! We are listing XYMF/USDT in our Innovation Zone!

What is the Price of XYMF Tokens?

The XYMFToken is currently trading at MEXC with a live price of $0.232. You can check the live price of their token right here!

How to buy XYMF Tokens on MEXC

You can buy XYMF Tokens on MEXC by following the steps:

  1. Log in to your MEXC account. Click on [Spot].
  2. Search “XYMF” using the search bar to see the available trading pairs. Take XYMF/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of XYMF you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy XYMF] to confirm your order. You will find the purchased XYMF in your Spot Wallet.

You can find a detailed guide on how to buy XYMF Tokens here.

Get Free Airdrops with MEXC Launchpad!

Did you know MEXC gives out 20+ free airdrops weekly? Launchpad and Kickstarter events ensure that all our loyal MX token HODLers receive a ton of new tokens! Learn all about it at our MX Zone now!

Meanwhile, check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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Wilbur Kwok

Wilbur strives in two ecosystems – Sports and Blockchain. Hit him up now to talk about all things crypto related!

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Wilbur Kwok
Wilbur strives in two ecosystems – Sports and Blockchain. Hit him up now to talk about all things crypto related!