Spin — a DeFi exchange infrastructure, built on the NEAR protocol, a robust and scalable L1 solution. The on-chain order book solution, offered by Spin, provides DeFi users with the ability to compete with CEX.
About Spin project
Founded in June 2021, Spin is the first product to offer an online order book solution, using the NEAR protocol. The advantages of the order book model include a better user experience, compared to AMM, flexible liquidity, easy access for institutional traders, secure and transparent on-chain verification, the ability to evaluate different types of instruments and trading robot compatibility.
The order book-based infrastructure opens up the possibility of changing different types of assets with different levels of complexity in the DeFi space. Including perpetual and quarterly futures, perpetual assets, perpetual options, options, exotic options, perpetual options, option stores, underlying trading, fixed income, structured products and RFQ.
Other features:
| 1 | Spin aims to provide NEAR Protocol users and projects with a comprehensive infrastructure for creating and trading spot assets and derivatives online. It also provides a competitive user experience at CEX. |
| 2 | Thus, the mission - to expand the DeFi services, offered on the NEAR protocol and other blockchains, and to attract the CeFi audience to on-chain trading and investment. |
The project uses a single pool of assets, the liquidity of which is sent for market making to the order book. Thus, traders will always have enough liquidity for comfortable trading, and investors will be able to profit from the well-thought-out market-making mechanism, developed by the Spin team. The current version of the Spin Spot DEX on NEAR - the first orderbook implementation that supports on-chain order matching and connection to the NEAR wallet. The DEX Spin Spot is currently available on the testnet. Later, it will provide users with the ability to make instant token exchanges at a market price in one click.
More about defi app
Spin offers a decentralized way to trade perpetual futures contracts. This means that traders do not need to rely on centralized exchanges and trust their funds to one person. Instead, funds are stored in users' wallets.
Spin's goal in terms of options trading - to provide a decentralized platform for their operation and to provide a convenient and easy to use fundamental block for well-versed, experienced traders as well as new traders. Spin will support partial selection of options.