Fuse & OpenLeverage Collaboration
Fuse announced partnership with OpenLeverage.
OpenLeverage has created a lending pool and enabled margin trading for the FUSE/WBNB pool on PancakeSwap. Fuse and OpenLeverage have provided the initial liquidity for the lending pool. OpenLeverage has also launched the lending and margin trading campaign incentivized with rewards in its native OLE token.
OpenLeverage has created the possibility for traders to trade on the FUSE/WBNB pair on the popular PancakeSwap decentralized exchange on BNB Chain (formerly Binance Smart Chain). To achieve this, the lending pool and margin trading have been set up that are integrated with the FUSE/WBNB trading pool.
In order to jumpstart the lending pool for margin trading, Fuse has lent $30,000 in FUSE tokens to the pool, while OpenLeverage has contributed an equal amount in WBNB. This means that it is now possible for lenders and FUSE/WBNB traders on PancakeSwap to lend to the lending pool and borrow from it to trade with leverage.
The maximum possible leverage ratio is 3X. This means that users can borrow up to two times of the collateral that they provide and can use the collateral and borrowed funds for trading. The interest rate for borrowers is currently set at 30% APR, and it is targeted at 10-15% for margin traders.
OpenLeverage will also make available 500,000 OLE in rewards for a campaign aimed at incentivizing lenders and margin traders on the FUSE/WBNB pool. The campaign rewards will depend on the volume lent or traded with a margin.
OpenLeverage also runs a referral program for the lenders and margin traders on OpenLeverage, including the FUSE-WBNB pool. The referrers will receive 15% of the rewards received by their invitees and 10% of the rewards obtained by the latter’s invitees.
About Fuse
Fuse is a leading decentralized finance (DeFi) project led by bold change-makers who truly believe that the future of money is non-custodial.
About OpenLeverage
OpenLeverage is a permissionless margin trading protocol geared towards DEX’s. Despite only having launched last December, it is already available for users on the Ethereum mainnet and BNB Chain (formerly Binance Smart Chain), with other major chain integrations in the pipeline.
