Key Takeways from Recent AMAs
Recently Leverj had a few AMAs with different South Asian communities in their Telegram channels. It was a great chance for us to connect with these communities and to the understand the issues these communities cared about the most, especially as it relates to newer players in these markets.
In case you missed the live AMAs, we summarized the most asked questions in this blog. Feel free to drop us a note in our Telegram channel or leave a comment if you have any questions.
Q1. What is Leverj?
Leverj is the world’s first Plasma sidechain based spot and futures exchange on Ethereum. It allows users to permissionlessly access markets on Ethereum and perform numerous trades between assets without paying high gas fees each time like on many other DEXes.
Leverj is also the first product on the Gluon network. The gluon network is a high speed L2 network on ethereum that enables you to transact without ethereum gas costs. We envision other L2 products on Gluon such as Uniswap-like AMMs.
Q2. What features are available at Leverj?
- Leverj has spot and futures trading with market, limit, stop market, stop limit orders.
- Leverage can be adjusted per position.
- 1 click trading allows you to quickly get in and out of the market.
You can play with it on our live mainnet and testnet (risk-free) — it will remind you mostly of a centralised exchange with some DEX qualities (for example you need to use MetaMask to move funds onto Plasma layer2 sidechain to trade from layer 2).
Q3. What is the LEV token? What are the benefits of holding it?
LEV is used as the governance token for the Leverj exchange system. As part of governance, users can vote with LEV on proposals like what apps to run on the Gluon network, whether to allow specific upgrades, validate transactions and secure the network.
You can also stake LEV on-chain through our platform to earn a stream of income that the exchange generates from spot and trading activity.
Q4. Does Leverj have an affiliate program?
As we are a hybrid DEX which does not require email address to register, just MetaMask, there is no affiliate program. However, an innovative affiliate program suitable for a self-custodial exchange is in development as of this time. We certainly want to incentivize people who help attract other traders to the platform.
Q5. How secure is Leverj?
Leverj is one of the most secure sites in the industry.
- We use a very strict content security policy and our security headers rating is A (many DeFi sites have F)
- We have a secure firewall and the servers do not even have a shell, eliminating many shellcode exploits
- The smart contracts have been audited by Blockchain Labs and bounty is open for any bugs
Q6. What projects do you see as competitors and how does Leverj stand out compared to them?
Leverj is built on Gluon Plasma, so it’s hard not to say we are competing with OmiseGo, who built their transfer tool on Plasma too. The reason why we stand out is because our Gluon Plasma is faster, and has better applications on it. Leverj is a non-custodial leveraged exchange built on top of Gluon Plasma. While OmiseGo has nothing but transfer.
Another competitor people compare us with is IDEX, but it is not as efficient as us. Because they have to deal with the insanely high gas costs on Ethereum in their model whereas we don’t.
If people want to trade on Leverj, it’s very similar costs to trading on central exchange because you are making one deposit of ETH or ERC20 tokens and then you are in our Gluon Plasma layer 2 — you have control of your funds but you then don’t have to do on-chain fees like Uniswap to trade, it’s just normal trading fees on the layer 2.
These are the 6 most important questions that the community members cared about the most. We will release more information around Leverj and its exciting range of products in the near future.
Below are the links to the full recaps if you would like to read them:
ID Crypto: https://idcryp.to/leverj-ama-recap/
BCCore: https://blockchain-core.com/recap-ama-leverj-with-bccore/
Crypto Vietnam: https://cryptovietnam.vn/recap-ama-cryptovn-x-leverj/
