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HomeCOINSBaymax Finance Coin Review : Is It Good Or...

Baymax Finance Coin Review : Is It Good Or Bad Coin Read Our Article

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About Baymax Finance Coin

Baymax Finance Coin perpetual futures are immensely popular in the cryptocurrency market. They have become a favored product among traders, so much so that perps make up more than 90% of trade volume on exchanges and the majority of open interest. What separates perpetual trading contracts from traditional calendar futures is that the former have no expiry date. Popularly known as perps or perpetual, they are similar to futures contracts except that they do not have an expiration date, meaning traders can hold a position open indefinitely and never have to worry about the contract rolling over or expiring.

Another reason for their popularity could be the less attractive cash-and-carry trade, where traders take advantage of the inefficiencies between the spot and futures markets. When it comes to trading perpetual contracts, decentralized protocols are the future. Today, there are many decentralized DEXs where you can trade perpetual contracts, but they face problems in the form of high slippage, high costs, and inadequate tool support.

Baymax Finance Coin Point Table

Coin BasicInformation
Coin NameBaymax Finance Coin
Short NameBAY
Circulating Supply20,450,211 BAY
Max Supply10,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Baymax to the Rescue

Baymax Finance is a decentralized perpetual contract trading protocol that allows its users to trade with up to 30x leverage. In addition, the platform has a native token, BAY, to enable a robust ecosystem around governance, rewards, and staking to further drive future growth and decentralization of Baymax for a better user experience. Baymax aims to become the best solution for traders who intend to stay in control of their funds at all times without sharing their data. Its simple but innovative design gives it many advantages over other DEXes.

  • Minimal transaction fees
  • No price impact, even for large order sizes
  • Protection against liquidation events: the sudden changes in price that can commonly happen in one exchange (“scam wicks”) are smoothed out by the pricing mechanism design
  • All-in-one platform: spot and also leverage trading

Compounding vs Claiming

  • There are two options for rewards on Earn: “Compound” and “Claim”.
  • Compounding will stake your pending Multiplier Points and Escrowed BAY rewards, this will increase the number of rewards you receive.
  • Claiming will transfer any pending Escrowed BAY rewards and AVAX rewards to your wallet.
  • If you compound or stake your Escrowed BAY tokens, you can unstake them for vesting at any time later on.

Vesting

Escrowed BAY (esBAY) tokens can be converted into BAY tokens through vesting, this can be accessed on the Earn page. When vesting is initiated, the average amount of BAY or BLP tokens that were used to earn the esBAY rewards will be reserved. For example, if you staked 1000 BAY and earned 100 esBAY tokens, then to vest 100 esBAY tokens, 1000 BAY tokens will be reserved. To vest 50 esBAY, 500 BAY tokens will be reserved. Note that this is an example and the actual ratio depends on the average staked amount and rewards earned for your account.

esBAY tokens that have been unstaked and deposited for vesting will not earn rewards. Staked tokens that are reserved for vesting will continue to earn rewards. After initiating vesting, the esBAY tokens will be converted into BAY every second and will fully vest over 365 days. esBAY tokens that have been converted into BAY are claimable at any time.

Why Choose Baymax Finance Coin?

Reduce Liquidation Risks

An aggregate of high-quality price feeds determine when liquidations occur. This keeps positions safe from temporary wicks.

Save on Costs

Enter and exit positions with minimal spread and zero price impact. Get the optimal price without incurring additional costs.

Simple Swaps

Open positions through a simple swap interface. Conveniently swap from any supported asset into the position of your choice.

Where Can You Buy Baymax Finance Coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On TraderJoe, As It Has The Highest BAY/USDC. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include BAY/USDC And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Baymax Finance Coin market screenshot

Baymax Finance Coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Baymax Finance Coin. Here Is Example Of Wallet Which Baymax Finance Coin – Trust Wallet For Hardware Ledger Nano.

FAQ Of Baymax Finance Coin

Where I Can Find Baymax Finance Coin Whitepaper?

You Can Find Baymax Finance Coin Whitepaper By Clicking Here.

Where I Can Buy/Sell Balancer Token?

You Can Buy or Sell Balancer Token On Some Popular Exchange For Example – TraderJoe.

What is Circulating Supply Of Balancer Token?

Circulating Supply Of Balancer Token Is 20,450,211 BAY.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .
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