San Francisco, California, September 11th, 2024, Chainwire
Boba Network, a top multichain layer-2 scaling solution, partners with Lynx, a cutting-edge Perpetuals Decentralized Exchange (DEX), on Boba Network. This collaboration revolutionizes the decentralized finance (DeFi) landscape, introducing advanced trading solutions and cross-chain functionality to a growing ecosystem.
In celebration of Lynx’s debut on Boba-Ethereum, Lynx hosts a trading competition featuring its gasless Perpetuals DEX with the potential for up to 100x leverage. Traders can use $BOBA and $USDC as collateral to compete in weekly rounds for a prize pool of 5,000 $BOBA. This competition showcases the advanced features of Lynx on the Boba platform, engaging the community in demonstrating their trading skills and offering new winning opportunities each Monday.
Lynx incorporates an intent-based order system that eliminates gas costs, allowing users to submit signed messages expressing their trading intentions. These messages are processed onchain by a network of bots. Additionally, Lynx provides a white-label solution for protocols to seamlessly integrate its high-leverage trading platform into their systems, with Lynx handling all technical support and maintenance.
Oren De Lange, Co-founder and CEO of Lynx: "Partnering with Boba Network enables us to offer an omnichain trading experience that removes barriers and reduces costs for our users. This collaboration allows seamless interaction with our platform across different blockchains, leveraging Boba's advanced infrastructure to benefit both our user bases."
Alan Chiu, Co-founder and CEO of Boba Network, added: "We are thrilled to integrate Lynx into Boba Network. This partnership utilizes our scaling solutions, enabling users on various blockchains to engage in flexible and efficient trading, enhancing capabilities within the DeFi sector."
Boba Network remains dedicated to advancing blockchain technology, with features such as HybridCompute™ technology, decentralized verifiable random function (DVRF), and account abstraction enhancing decentralized applications' functionality and reinforcing Boba Network's role in supporting the digital economy's infrastructure.
About Lynx
Lynx is a gasless Perpetuals DEX that allows trading crypto, forex, and commodity perpetuals using any token as collateral. By removing price volatility risk from the collateral asset, Lynx empowers traders to collateralize any token effectively, from governance tokens to meme coins. Currently, Lynx supports over 23 unique collateral options across 8 chains and is actively partnering to bring new utility to all tokens in the crypto space.
About Boba Network
Boba Network is an optimistic-based multichain layer-2 scaling solution that seeks to unlock the potential of roll-up technology and enable more flexible blockchain communication. The protocol is fully compatible with EVM-based tools and has deployed multichain support for Ethereum and BNB, offering lightning-fast transactions and significantly reduced fees compared to layer-1. Boba Network is powered by HybridCompute™ technology, bringing Web2 capabilities on-chain, allowing developers to build hybrid dapps that connect people to the future of blockchain applications.
Contact Marketing Manager Gian Kim Enya Labs marketing@enya.ai
Read the original article on Chainwire for more information.
Analysis:
In this groundbreaking partnership between Boba Network and Lynx, the integration of Lynx's Perpetuals DEX on Boba Network brings advanced trading solutions and cross-chain functionality to the DeFi sector. The trading competition with up to 100x leverage provides an exciting opportunity for traders to showcase their skills and win prizes. The gasless trading system and white-label solution offered by Lynx demonstrate innovative approaches to decentralized finance, while Boba Network's commitment to advancing blockchain technology solidifies its position in supporting the digital economy's infrastructure. Overall, this collaboration opens up new possibilities for users across various blockchains, enhancing trading capabilities and efficiency within the decentralized finance ecosystem.