Shield Launches on Binance Smart Chain (BSC) Testnet

Dear Shielders, we’re incredibly excited to share that Shield on Binance Smart Chain (BSC) testnet is now live. We would like to take this chance to walk you through why we made this decision and the plethora of new features now available on the Binance Smart Chain (BSC). A lot of the work has been done during this period and now we’re one step closer to the upcoming milestone- the mainnet launch.

Why Binance Smart Chain (BSC)

Key features of Shield on BSC

In comparison to Ethereum, where the average gas fee for a transaction is more than 100 Gwei, the average gas fee on BSC is 5 times lesser and mostly under 20 Gwei. As a result, the gas cost to open/close positions on Shield is now ten times lowered, decreasing from $30 to $3.

-Lower funding fee

BSC essentially allows for greater gas limits, subsequently allowing for more transactions to be executed in each BSC transaction block. With decreased funding fees, this certainly allows for a premium user experience.

-Dual liquidity pool optimization

The dual liquidity pools on Shield by well-hedged private pools and retail-focused public pools ensure that traders have access to solid liquidity. Liquidity on a private pool can be withdrawn at any time. Additionally, 30% of the liquidity on a public pool can be withdrawn at any time as well. As a result, Shield users can customize their risk management when involved with liquidity mining. This allows traders to improve capital efficiency and profit opportunities since they don’t have to pay for position loss.

-Broker competition based on game theory

Broker competition is implemented to better incentivize the brokers on different levels. Different levels of Brokers have different commission rates. Leveraging this decentralized brokerage system, Shield will create a positive feedback loop and momentum. This helps in solving the transparency problem in the traditional brokerage system.

-Liquidation competition based on game theory

To incentivize the community’s participation and fairness in liquidation, at the end of each week, the top 3 liquidators with the highest gas expenses will be rewarded with SLD tokens in the amount of gas expense*7%/0.05, gas expense*5%/0.05, and gas expense*3%/0.05 respectively.

Looking forward

To move forward, to facilitate the growth and trading volume on Shield Ex, we will gradually roll out various incentive programs such as bug bounty programs and trading competitions soon. Shielders, stay tuned! Go to https://shieldex.io and trade now!

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