Month: November 2023

This post is a recap of the entire session held with CryptoWhale Institute and Bora Bora DEX on Oct 17,2023. From Bora Bora’s features and security, to the new incentive model of bomb blocks, heading the program was COO Kaji from Bora Bora, who provided plenty of insight on the topic.

Highlights & Milestones

– Release Trading Incentive Model Version (Bomb Blocks)

– List and Swap of the exBora Token

– 0% trading fee for opening positions

– 50% of Revenue Dividend for LP

aggregated liquidity

– Expectation of Multi-Chain Liquidity Aggregation Model

The highly anticipated Borabora V2.0 was recently launched, offering a new experience with the incentive token of exBora, as well as the BOMB BLOCK Game for DeFi derivative traders. The new version of Borabora DEX has garnered significant media coverage since its launch. Check out more news here:

https://www.bsc.news/post/borabora-dex-redefining-the-derivatives-sector-in-defi

https://coinwire.com/embarking-on-an-epic-journey-with-bora-where-bombblock-game-and-exbora-tokens-shine/

https://coinmarketleague.com/magazine/borabora-dex-exbora-token-bombblock-game

AMA Question Set

1.As a decentralized derivatives protocol, how to ensure the security and reliability while offering zero price impact, the lower gas fee, up to 50x leverage, and counterparty risk control?

2.How to offer optimal trading cost for traders on Borabora? How do you see the role of Borabora in shaping the future of Web3.0?

3.How do liquidity providers earn profits from BFLP token and share the protocol revenue on Borabora? Do you think this equal reward opportunity will get more users?

4.As a pioneer, Borabora has been successfully deployed on the BNB Chain. What are the plans and roadmap for deploying on more chains? What are the potential challenges and difficulties?

5.In today’s DeFi ecosystem, how would you use Borabora’s properties to stay attractive and active? How to get existing web3.0 users to accept and join into Borabora’s ecosystem?

Q&A Recap

Question1: As a decentralized derivatives protocol, how to ensure the security and reliability while offering zero price impact, the lower gas fee, up to 50x leverage, and counterparty risk control?

Kaji:

First and foremost, Borabora has achieved nearly perfect zero price impact, up to 50x contract leverage and premium liquidity from AMM’s automated market maker. We aim to provide our users with a nice trading experience and a decent return on investment, which is not in conflict with the platform’s safety and dependability. It absolutely requires strong technical abilities, attractive marketing strategies, devoted user communities, trustworthy partners, and an innovative team spirit!

Since Bora’s birth in 2021, we have immediately submitted our smart contracts to Certik and Eocene to pass the security audits, ensured that there are no security breaches or data threats. And that’s not all – other cyber security, physical security, operational security and application security are also involved.

Of course, users might still be worried about security issues since, let’s face it, even some of the biggest platforms have been lost or stolen occasionally. In response to the possibility of this improbable event, Borabora is actually the independently DEX platform developed by Tritium Research, which has already collaborated closely with many mainstream platforms and project partners in web3.0. No matter in liquid or fixed assets, Bora has sufficient reserves to support both the platform’s current operating conditions and contingencies. Furthermore, Bora has implemented security measures including distributing assets among several wallets, so there’s no reason to be concerned in any way.

Furthermore, all transactions on Borabora are transparent on the blockchain. The price oracle mechanism of Borabora combines centralized exchanges and Chainlink’s price data, incorporating references from Keep Nodes, Node Monitor, and so on to ensure the security, accuracy, and timeliness of price, and control the malicious fluctuations. In addition, users’ trading strategies are flexible and changeable, but we can ensure the safety of naked positions through sufficient liquidity, and still offer friendly trading experience.

Question2: How to offer optimal trading cost for traders on Borabora? How do you see the role of Borabora in shaping the future of Web3.0?

Kaji:

Since Bora’s birth in 2021, we have successively optimized many important aspects such as slippage, trading cost, LP incentive allocation, NFT holders incentive allocation, and the economic model of the future platform token. This is actually a relatively long process.

At the beginning, excluding the trading fees, it costs $2 worth BNB to open a position, it’s too pricey. So we successively cut off the execution fees, insurance fees and so on, and now it only costs $0.6 worth BNB in total to open and close a position. There is no trading fee for opening a position but 0.2% for closing, traders frequently do not have to pay funding fee because of the sufficient liquidity, and we can still guarantee that the liquidation price of the position is better than most centralized and decentralized exchanges.

Today’s fee structure makes the entire trading process on Borabora very transparent: there are only trading fees, funding fees, execution fees and liquidation fees. At the same time, we have decentralized the key components of centralized exchanges, allowing users to trade even with zero funding rates and zero price impact, thus giving users greater financial autonomy.

In addition, liquidity providers only need to inject liquidity with one click to obtain the customer loss income of multiple trading pairs, and Bora’s AMM automatic market maker and price feeding mechanism will also control the risk of malicious price manipulation, so as to Ensure a sufficiently secure, stable, and transparent trading environment for liquidity providers and traders.

Question3: How do liquidity providers earn profits from BFLP token and share the protocol revenue on Borabora? Do you think this equal reward opportunity will get more users?

Kaji:

Liquidity provider is another way to earn income besides trading. Everyone can become a LP to earn income without permission. Opportunities are equal and free, but the amount of the income depends on the actual proportion of liquidity they provide. Borabora distributes BFLP will be minted as proof of providing liquidity when provided, and destroyed when sold. After purchasing LP tokens, users often stake BFLP to share 50% of revenue dividend and other token rewards.

BFLP’s profits come from all traders’ customer losses, funding rates, liquidation fees, token rewards, and 50% of the platform’s handling fees. Considering the demand for cross-chain functionality, we also plan to release a new multi-chain liquidity aggregation model by the end of the year to support cross-chain asset aggregation liquidity and increase LP protocol revenue.

Question4: As a pioneer, Borabora has been successfully deployed on the BNB Chain. What are the plans and roadmap for deploying on more chains? What are the potential challenges and difficulties?

Kaji:

The most important reason why we choose the BNB chain is that we think Binance users are very dynamic and more representative of DeFi. This is the key feature Bora wanted. Therefore, we chose to build the Bora DEX on the BNB Chain since we founded in 2021. By now, we have updated 4 versions without cross-chain but focusing on the needs of BNB Chain users.

The major advantages of the BNB Chain are its efficiency and lower transaction costs, allowing Bora to compete with popular DEXs on other chains, such as GMX (ARB) Avalanche (AVAX) on Arbitrum, Gains Network (GNS) on Polygon (MATIC). These platforms serve as both our goals and competitors. While Layer 2 solutions have attracted significant organizations and individuals, the BNB Chain still maintains a leading position in terms of higher TVL and a larger user base. Bora intends to solidify its services on the BNB Chain, verifying efficient and secure trading environments and experiences before considering cross-chain integration with Layer 2 solutions and exploring further possibilities. This is part of our plan, and we expect to prioritize it alongside the launch of our platform token by the end of the year.

Additionally, we will carefully listen to the opinions of the community and consider their feedback regarding the introduction of more trading pairs, the creation of a permissionless derivatives market, other exciting features, enhanced security measures and so on. For example, in previous versions, we launched European-style at-the-money straddle options, which are traditional and classic derivatives. We have also issued NFT dividend mechanisms, Bora NFTs holders received weekly dividends based on their NFT level, we later redirected this dividend pool to LP to supply more LP income.

Question5: In today’s DeFi ecosystem, how would you use Borabora’s properties to stay attractive and active? How to get existing web3.0 users to accept and join into Borabora’s ecosystem?

Kaji:

We have recently launched a new version and new gameplay this month, and listed $exbora, which serves as an incentive token on Borabora. It can be obtained after every position closing, and swapped at a fixed price of 0.5 USDT at any time.

As we all know, it moves one block every three seconds. On Borabora, each block comes with $exbora token reward. $exbora is Bora’s incentive token. The price is fixed and can be swapped on the official web at any time. When no one is closing the position, the $exbora in these blocks will accumulate until it is detonated by the latest closing order. This order can take away the rewards in all previous blocks. In other words, if you close your position at the right time, the rewards you get can cover the gas fee, trading fee and customer losses of your order, or even more.

There are a total of 28,800 blocks with rewards every day. When you’re relaxed, You check the real-time blocks accumulated and close a position to grab bomb reward. The blocks keep moving, and the rewards keep coming.

There were various rewards in previous versions, but what remains constant is the essence of trading, Borabora is taking every step steadily. As of now, Bora has thousands of trading users and Bora NFT holders on the BNB Chain, with tens of millions of trading volume. This number is still increasing. Welcome to leave a message after the meeting for anything you are interested, let’s make progress together.

With the end of this epic round of ARB airdrops, many people have easily achieved financial freedom. However, only a few have become rich, and most people still missed it. In the context of the downward bear market environment, it seems to be even more difficult to make profits through investment. Therefore, many investors have launched the slogan of not investing but just licking their hair, and they can get a lot of airdrop returns at zero or small cost. The low-cost investment method of “airdrop” has quickly gained response from people in the industry, and there are also many friends who don’t know how to do it. They want to join this wave. According to incomplete statistics, more than 100,000 novices have I want to participate in the airdrop. Therefore, conservative estimates suggest that this will be a multi-billion-level market.

However, there is no web3 project for hairdressing on the market. The gold-making studios are expensive and the security is worrying. It is also difficult to hairdress yourself, whether it is the cumbersome use of wallets, DAPP interactions, or “witch attacks” and “IP The troubles of various professional terms such as “isolation” and the complicated data collection make it difficult for many newbies to start. There are also the scams of the golden cicada escaping from the shell of the teacher Shan. These walls keep the gold diggers out.

The OpenLoo team saw the plight of the hair-raising market and also saw the huge potential of this market. Therefore, OpenLoo was born. As an automated deployment DAPP on the chain, OpenLoo wants to help 100,000 novices airdrop and achieve financial freedom.

With OpenLoo, users only need to easily create a wallet address and link it with the DAPP application. When the airdrop event starts, users only need to enter their wallet address in the DAPP application to participate in the airdrop. The operation is simple and there is no need to worry about technical thresholds. In addition, OpenLoo uses multiple encryption technologies to automatically execute programs through smart contracts, ensuring the security of assets, reducing the risk of manual errors, and ensuring the quality and stability of applications. Only users and programs know their private keys, eliminating the hidden dangers of traditional airdrop and gold mining studios privately transferring airdrops and other assets.

The automated deployment of DAPP technology on the chain is an important development in the blockchain world, and OpenLoo is an excellent practice of this technology. OpenLoo provides convenience for more novices who want to participate in airdrops but do not have the technical threshold, and also brings more new vitality to the blockchain world. If you also want to participate in the airdrop track, come to OpenLoo to experience one-click Let’s masturbate!

About OpenLoo:

OpenLoo is a Web3 application that implements fully automated on-chain interaction. Products launched in the first phase include airdrop interaction for zkSync, starknet, venom and other networks.

Official website Link: https://openloo.xyz

Twitter link: https://twitter.com/OpenLoo

DAPP: https://dapp.openloo.xyz/#/

Tracker Link: https://tracker.openloo.xyz/

Recently, OpenLoo has caused great discussion. Why is OpenLoo favored by users? What’s so special about its mechanism and product design? How to build blockchain data on the airdrop track? With these questions, the author interviewed the founder of OpenLoo and will use this article to present readers with a professional on-chain automated airdrop DAPP to see what is special about it.

Q: Can you briefly introduce OpenLoo and the team to us?

A: OpenLoo is a DAPP mainly aimed at novice users, helping novice users to airdrop in batches with zero threshold. In other words, we are a tool to help users to airdrop. Of course, in addition to airdrops, OpenLoo also has batch Mint NFT, Coinlist Create new ones and deploy mining nodes and other services with one click. Our core team has been deeply involved in blockchain for many years and is composed of professionals from the world’s top technology companies and academic institutions. We have rich experience and expertise in the blockchain and cryptocurrency fields.

Q: What do you think of the airdrop track? How does OpenLoo work?

A: In the current bear market, it is difficult to make profits through investment. Therefore, the “airdrop” format, which can be exchanged for a lot of airdrop returns at zero or small cost, has been welcomed by people in the industry, and some Many partners who do not understand airdrops want to join this wave, and this is exactly the case. According to incomplete statistics, more than 100,000 novices want to participate in airdrops. Therefore, this will be a very promising track. OpenLoo is an automated deployment of DAPP on the chain. Through OpenLoo, users only need to easily create a wallet address and link it with the DAPP application. When the airdrop event starts, users only need to enter their wallet address in the DAPP application to participate in the airdrop. The operation is very simple and convenient.

Q: How do you think OpenLoo should build blockchain data in the airdrop track?

As a marketing strategy, the purpose of airdrop is to allow the project to accumulate a large number of seed users in a short period of time to facilitate the incubation and promotion of the project. Therefore, interactive participation in activities can increase the probability of users receiving airdrops. However, due to the existence of a large number of wooly parties, the project team will only select those users who have truly contributed to the project to issue airdrops. Therefore, if the individual airdrop behavior does not find the focus, the busy time may be in vain. So how to solve it?
OpenLoo believes: In the world of blockchain, data is the answer. If you have a clear understanding of the entire project data, it will be easy to obtain airdrops. OpenLoo utilizes a wide range of data resources and uses a large amount of data to build a model specifically for airdrop data deduction. It can continuously learn and optimize through machine learning algorithms to provide users with more accurate and practical predictions and help users improve their success. The probability of getting an airdrop. It is worth mentioning that OpenLoo also carefully studied the data of each project and adopted different strategies and methods for different projects.

OpenLoo has proposed a brand new solution for the airdrop market. When implementing airdrops and other WEB 3 automation strategies, we will never slap our foreheads and act recklessly, never be empiricistic and never search for tutorials to imitate cats and tigers. How can these small-scale workshop behaviors not be allowed? In the context of OpenLoo? We use blockchain data analysis tools such as Footprint and Dune to write self-developed calling codes, deconstruct each valuable on-chain data, and then refine it through self-developed algorithms. This leads to multi-dimensional models and data culture such as probability, experience, expertise, market, and human nature to construct effective strategies.
In addition, every strategy OpenLoo puts on DAPP is the result of the unified collaboration of four major teams. Just start working after reading two or three crude tutorials, and rely on three to five cheap labor to interact. OpenLoo disdains this kind of brainless money-making business. Our strategy is not only rooted in excellence in experience and data, but also optimizes all processes in every detail, including real-time gas monitoring, native IP matching, independent currency mixing technology, meticulous contract invocation, and intelligent interactive operations. This strategy can ensure the efficiency, low consumption and safety of every on-chain and off-chain execution.

It seems that this is OpenLoo, an automated deployment DAPP on the chain that everyone is looking forward to.

About OpenLoo:

OpenLoo is a Web3 application that implements fully automated on-chain interaction. Products launched in the first phase include airdrop interaction for zkSync, starknet, venom and other networks.

Official website Link: https://openloo.xyz

Twitter link: https://twitter.com/OpenLoo

DAPP: https://dapp.openloo.xyz/#/

Tracker Link: https://tracker.openloo.xyz/

Recently, OpenLoo has caused great discussion. Why is OpenLoo favored by users? What’s so special about its mechanism and product design? How to build blockchain data on the airdrop track? With these questions, the author interviewed the founder of OpenLoo and will use this article to present readers with a professional on-chain automated airdrop DAPP to see what is special about it.

Q: Can you briefly introduce OpenLoo and the team to us?

A: OpenLoo is a DAPP mainly aimed at novice users, helping novice users to airdrop in batches with zero threshold. In other words, we are a tool to help users to airdrop. Of course, in addition to airdrops, OpenLoo also has batch Mint NFT, Coinlist Create new ones and deploy mining nodes and other services with one click. Our core team has been deeply involved in blockchain for many years and is composed of professionals from the world’s top technology companies and academic institutions. We have rich experience and expertise in the blockchain and cryptocurrency fields.

Q: What do you think of the airdrop track? How does OpenLoo work?

A: In the current bear market, it is difficult to make profits through investment. Therefore, the “airdrop” format, which can be exchanged for a lot of airdrop returns at zero or small cost, has been welcomed by people in the industry, and some Many partners who do not understand airdrops want to join this wave, and this is exactly the case. According to incomplete statistics, more than 100,000 novices want to participate in airdrops. Therefore, this will be a very promising track. OpenLoo is an automated deployment of DAPP on the chain. Through OpenLoo, users only need to easily create a wallet address and link it with the DAPP application. When the airdrop event starts, users only need to enter their wallet address in the DAPP application to participate in the airdrop. The operation is very simple and convenient.

Q: How do you think OpenLoo should build blockchain data in the airdrop track?

As a marketing strategy, the purpose of airdrop is to allow the project to accumulate a large number of seed users in a short period of time to facilitate the incubation and promotion of the project. Therefore, interactive participation in activities can increase the probability of users receiving airdrops. However, due to the existence of a large number of wooly parties, the project team will only select those users who have truly contributed to the project to issue airdrops. Therefore, if the individual airdrop behavior does not find the focus, the busy time may be in vain. So how to solve it?
OpenLoo believes: In the world of blockchain, data is the answer. If you have a clear understanding of the entire project data, it will be easy to obtain airdrops. OpenLoo utilizes a wide range of data resources and uses a large amount of data to build a model specifically for airdrop data deduction. It can continuously learn and optimize through machine learning algorithms to provide users with more accurate and practical predictions and help users improve their success. The probability of getting an airdrop. It is worth mentioning that OpenLoo also carefully studied the data of each project and adopted different strategies and methods for different projects.

OpenLoo has proposed a brand new solution for the airdrop market. When implementing airdrops and other WEB 3 automation strategies, we will never slap our foreheads and act recklessly, never be empiricistic and never search for tutorials to imitate cats and tigers. How can these small-scale workshop behaviors not be allowed? In the context of OpenLoo? We use blockchain data analysis tools such as Footprint and Dune to write self-developed calling codes, deconstruct each valuable on-chain data, and then refine it through self-developed algorithms. This leads to multi-dimensional models and data culture such as probability, experience, expertise, market, and human nature to construct effective strategies.
In addition, every strategy OpenLoo puts on DAPP is the result of the unified collaboration of four major teams. Just start working after reading two or three crude tutorials, and rely on three to five cheap labor to interact. OpenLoo disdains this kind of brainless money-making business. Our strategy is not only rooted in excellence in experience and data, but also optimizes all processes in every detail, including real-time gas monitoring, native IP matching, independent currency mixing technology, meticulous contract invocation, and intelligent interactive operations. This strategy can ensure the efficiency, low consumption and safety of every on-chain and off-chain execution.

It seems that this is OpenLoo, an automated deployment DAPP on the chain that everyone is looking forward to.

Recently, OpenLoo has caused great discussion. Why is OpenLoo favored by users? What’s so special about its mechanism and product design? How to build blockchain data on the airdrop track? With these questions, the author interviewed the founder of OpenLoo and will use this article to present readers with a professional on-chain automated airdrop DAPP to see what is special about it.

Q: Can you briefly introduce OpenLoo and the team to us?

A: OpenLoo is a DAPP mainly aimed at novice users, helping novice users to airdrop in batches with zero threshold. In other words, we are a tool to help users to airdrop. Of course, in addition to airdrops, OpenLoo also has batch Mint NFT, Coinlist Create new ones and deploy mining nodes and other services with one click. Our core team has been deeply involved in blockchain for many years and is composed of professionals from the world’s top technology companies and academic institutions. We have rich experience and expertise in the blockchain and cryptocurrency fields.

Q: What do you think of the airdrop track? How does OpenLoo work?

A: In the current bear market, it is difficult to make profits through investment. Therefore, the “airdrop” format, which can be exchanged for a lot of airdrop returns at zero or small cost, has been welcomed by people in the industry, and some Many partners who do not understand airdrops want to join this wave, and this is exactly the case. According to incomplete statistics, more than 100,000 novices want to participate in airdrops. Therefore, this will be a very promising track. OpenLoo is an automated deployment of DAPP on the chain. Through OpenLoo, users only need to easily create a wallet address and link it with the DAPP application. When the airdrop event starts, users only need to enter their wallet address in the DAPP application to participate in the airdrop. The operation is very simple and convenient.

Q: How do you think OpenLoo should build blockchain data in the airdrop track?

As a marketing strategy, the purpose of airdrop is to allow the project to accumulate a large number of seed users in a short period of time to facilitate the incubation and promotion of the project. Therefore, interactive participation in activities can increase the probability of users receiving airdrops. However, due to the existence of a large number of wooly parties, the project team will only select those users who have truly contributed to the project to issue airdrops. Therefore, if the individual airdrop behavior does not find the focus, the busy time may be in vain. So how to solve it?
OpenLoo believes: In the world of blockchain, data is the answer. If you have a clear understanding of the entire project data, it will be easy to obtain airdrops. OpenLoo utilizes a wide range of data resources and uses a large amount of data to build a model specifically for airdrop data deduction. It can continuously learn and optimize through machine learning algorithms to provide users with more accurate and practical predictions and help users improve their success. The probability of getting an airdrop. It is worth mentioning that OpenLoo also carefully studied the data of each project and adopted different strategies and methods for different projects.

OpenLoo has proposed a brand new solution for the airdrop market. When implementing airdrops and other WEB 3 automation strategies, we will never slap our foreheads and act recklessly, never be empiricistic and never search for tutorials to imitate cats and tigers. How can these small-scale workshop behaviors not be allowed? In the context of OpenLoo? We use blockchain data analysis tools such as Footprint and Dune to write self-developed calling codes, deconstruct each valuable on-chain data, and then refine it through self-developed algorithms. This leads to multi-dimensional models and data culture such as probability, experience, expertise, market, and human nature to construct effective strategies.
In addition, every strategy OpenLoo puts on DAPP is the result of the unified collaboration of four major teams. Just start working after reading two or three crude tutorials, and rely on three to five cheap labor to interact. OpenLoo disdains this kind of brainless money-making business. Our strategy is not only rooted in excellence in experience and data, but also optimizes all processes in every detail, including real-time gas monitoring, native IP matching, independent currency mixing technology, meticulous contract invocation, and intelligent interactive operations. This strategy can ensure the efficiency, low consumption and safety of every on-chain and off-chain execution.

It seems that this is OpenLoo, an automated deployment DAPP on the chain that everyone is looking forward to.