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Welcome To Wootfi All In One Review Blog > Blog > COINS > What Is HandleFOREX(FOREX) Coin Review ? Complete Guide Review About handleFOREX
COINS

What Is HandleFOREX(FOREX) Coin Review ? Complete Guide Review About handleFOREX

Denny Bitsong
5 days Ago COINS Posted by By Denny Bitsong 6 Min Read Add Comment Tags: HandleFOREX HandleFOREX login HandleFOREX sign up
What Is handleFOREX(FOREX) Coin Review ? Complete Guide Review About handleFOREX
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What Is HandleFOREX(FOREX) Coin Review ?

HandleFOREX is a decentralized multi currency stablecoin protocol. the handle protocol allows users to borrow, swap & trade and earn from multi-currency stable coins; called fxTokens. fxTokens are collateral backed stable coins representing, and soft pegged to, a range of currencies. users create fx Tokens by depositing eligible collateral, as defined by the protocol governance process.

currently available fxTokens;

  • Australian Dollar (fxAUD)
  • British Pound (fxGBP)
  • Chinese Renminbi (fxCNY)
  • Eurodollar (fxEUR)
  • Phillipine Peso (fxPHP)
  • Singapore Dollar (fxSGD)
  • Swiss Franc (fxCHF)
  • US Dollar (fxUSD)

HandleFOREX(FOREX) Storage Key Points

Coin BasicInformation
Coin NamehandleFOREX
Short NameFOREX
Circulating SupplyN/A
Max Supply420,000,000
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

Borrow in your local currency

HandleFOREX mint multi-currency stablecoins, called fxTokens, across a range of alternate currencies – fxAUD, fxCNY, fxKRW and more. borrow in your local currency, removing FX risk and making accounting simpler.

Convert between stablecoin currencies

HandleFOREX settle trades in your native currency, convert between non USD currency pairs, ETH and DAI and much more. easily gain access to alternate currency exposure for hedging, speculation & payments.

Trade leveraged stablecoin currencies

HandleFOREX trade up to x30 leverage between multicurrency stablecoins. hedge or speculate on FX movements.

Earn from providing protocol liquidity

HandleFOREX stake fxTokens across trading & liquidation keeper pools to provide protocol liquidity. earn trading and liquidation fees and $FOREX rewards.

Multi-collateral

HandleFOREX optimise utility and capital efficiency of your assets & reduce liquidation risk through our defi first multi-collateral vaults.

Collateral Optimisation

HandleFOREX protocol controlled value program, ensures your collateral is put to work generating additional returns.

Efficient liquidations

HandleFOREX keeper pool based partial vault liquidations ensure only required amounts of collateral are sold to maintain c-Ratios.

$FOREX governed

HandleFOREX the protocol token, $FOREX, underpins governance & rewards and serves as a mechanism for further underwriting ecosystem stability.

Handle.fi use cases & benefits

  • settle trades in your local currency, removing foreign currency risks.
  • borrow against your crypto assets in your local currency, reducing conversion fees and foreign currency risks.
  • leverage in your local currency removing foreign currency risks.
  • invest and farm in your local currency removing foreign currency risks.
  • convert between multi currency stablecoins efficiently.
  • earn rewards for liquidity provision in trading and keeper pools in your local currency.
  • earn arbitrage profit from 1:1 redemptions.
  • with introduction of L2 and leveraged products, hedge or speculate on foreign exchange movements.

key benefits of handle.fi protocol include:

  • multi-collateral vaults;
    • capital efficiency.
    • decreased liquidation probabilities.
    • make use of more of your assets.

The Opportunity

Global currency exchange presents a huge opportunity for defi. on average, $6.6 trillion trades every day (1) in the worldwide foreign exchange market, with 2020 volumes in the vicinity of $2.409 quadrillion. the USD is the global reserve asset and as the world of decentralised finance(defi) has grown, there has been a proliferation of USD backed stablecoins, trading volumes in excess of $30Bn per day (2). up to this point there has however been very little exploration or issuance of other representative decentralised stablecoin currencies.

FOREX Token Supply

FOREX is the governance token of the handle protocol. it will be distributed as a reward for protocol accretive actions by participants and will allow holders to contribute to platform governance. token supply; a total 420,000,000 FOREX will be minted across an initial 182 week period; followed by a 2.1% annual terminal inflation rate;

22.0% team and advisors. (vesting)

26.9% strategic partners. (vesting)

5.0% community TGE (no vesting).

41.1% protocol rewards (weekly release);

  • vault collateral stakers.
  • fxToken minters.
  • fxToken liquidity and fxKeeper pool stakers.
  • governance pool stakers.

Governance Staking (veFOREX)

FOREX holders can lock their tokens into the handleDAO to receive veFOREX – ‘vote escrowed FOREX’ veFOREX allows users to participate in protocol governance. it incentivises this by rewarding them with a bigger share of the daily FOREX emissions dependent on their token lock commitment.

the longer the lock, the more veFOREX a user will receive, giving them more voting power, increased FOREX rewards and larger potential rewards boost. the number of veFOREX users receive depends upon on the duration FOREX is locked, with the minimum locking time one week epochs and the maximum, four years.

1 FOREX locked for the maximum duration is equivalent to 1 veFOREX, and users can earn a boost up to a maximum 2.5x. as the escrowed tokens approach their lock expiry the veFOREX weight decreases linearly. this tokenomic system draws from the innovative and foundational work implemented by curve.fi. we thank them for their inspiration and contribution to both defi and protocol tokenomics.

Tags: HandleFOREX HandleFOREX login HandleFOREX sign up

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Denny Bitsong 24/06/2022
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