Hello guys,
Wanna share this idea for xExchange,
Ok so we have now Ashperp live for ashswap who is generating big volumes and PNL for traders, big APR for USDC vault depositors and veAsh stakers.
The thing is when you have USDC only deposited in ashPerp but aren’t in a trade, your USDC isn’t subject to volatility and thus can’t earn you anything.
What if xExchange could built xPerps or whatever you wanna call it and instead of depositing only USDC like ashperp, user can deposit broader volatile assets like EGLD/ETH/BTC/MEX/USDC and receive a MEXLP token for it wich has the underlying USD value associated with the assets provided (it’s always good to have stable exposure in your underlying assets provided for liquidity).
So when you enter xPerp even if you aren’t in a trade, your position is subject to volatility of the MEXLP token and earn you rewards stream according to traders Loss/borrowing FEES/Spread/entering/closing positions.
Then you take the same mechanism like on Jupiter exchange to rewards MEXLP providers and can even redirect a percentage to XMEX holders :
https://station.jup.ag/labs/perpetual-exchange/jlp-pool
And for the perpetual exchange you can choose to create a complementary road to ashperp strengthening each other by taping into each of your reserves of assets (MEXLP underlying assets and APUSDC underlying assets in case of a black swan event or liquidation cascade).
This would enhance trading possibility, fees, leverage and liquidity available for traders.
Its like everybody win in this situation.
I don’t know how you could build this of course in terms of smart contract as i’m not a technical guy but feels like this idea should be shared and researched.
Have a good day to all.
Regards