bZx is a decentralized lending and trading protocol built on Ethereum. Essentially a series of smart contracts, the protocol allows for completely decentralized margin/leverage trading using the protocol’s native assets: iTokens, pTokens, and BZRX tokens.
bZx was founded in August 2017 by Tom Bean and Kyle J Kistner, who respectively serve as the company’s CEO and CVO. The entire team consists of 10 members. Following the release of the whitepaper in February 2018, the development team debuted the smart contracts onto the Ropsten Testnet in April 2018.
2019 saw considerable growth after the team then launched the platform’s first decentralized application (dapp), Fulcrum, in June the same year. October 2019 saw the release of the platform’s second dapp, Torque, which also boosted the total value locked on bZx.
As a margin trading platform, bZx limits liquidation penalties to 200% of the gas cost for submitting the transaction. Traders can take a long position by swapping one asset for the other, depending on the profit potential. For example, ETH can be swapped for DAI if it proves prudent. It offers a maximum leverage of 100x. Traders can also earn passive income on held assets.
To facilitate these features, bZx uses 3 tokens: the BZRX governance token, iTokens and pTokens. The first is a governance token that can be used to govern the network and is used by relays to collect trading fees. The latter two are used as economic incentives, with iTokens being interest-accruing tokens and pTokens representing long and short positions. The platform currently supports the following assets: Ethereum (ETH), DAI, USD Coin (USDC), Kyber Network (KNC), Chainlink (LINK), Augur (REP), Wrapped Bitcoin and 0x (ZRX).
The two aforementioned products built on bZx, Fulcrum and Torque, are accompanied by many other products that have been integrated into the ecosystem. Fulcrum is the margin trading platform, while Torque offers loans with fixed interest rates for indefinite periods. Products that have been integrated include Eidoo, DeFi Saver, Staked, Dexwallet, DeFi Portfolio and several others.
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Official Site: https://bzx.network/
Twitter Profile: https://twitter.com/bzxhq