Introducing ALPHA V0.X — A New Era of Derivatives on BNB Chain By Chainwire

Helsinki, Finland, April 27th, 2024, Chainwire

THENA is thrilled to announce the latest update to ALPHA, THENA’s intent-based decentralized derivatives exchange, now powered by both IntentX, Orbs, and SYMMIO. The new version is now live on BNB Smart Chain, and soon opBNB, BNB’s high-performance optimistic layer 2 solution.

This upgrade marks a significant leap forward, streamlining the user trading experience with intuitive, informative, and customizable features. THENA team is also now officially ending the beta phase with the introduction of a Trade2Earn Program to scale up the trading volume, set for launch at 00:00 UTC, April 27, 2024.

Key Improvements

Trade2Earn Program: Launching with a daily $1,000 reward pool, distributed based on trading volume share per a given day (24 hours), resetting at 00:00 UTC. Trading automatically enrolls the user in the rewards for the current day.

Enhanced User Interface (NASDAQ:): The user can enjoy new features like advanced account analytics, grouped positions, and customizable layouts, alongside improvements like a refined search bar and faster page loading. The team also added an order depth view.

Order Management Innovations: The THENA team introduced a new polling system for more efficient order handling, a floating order notification system, and a comparison tool for estimated vs. current slippage.

Risk Management Tools: Utilize Stop Loss and Take Profit (SL/TP) functions directly within the platform, offering front-end coordination with market makers for timely and gas-free order execution. The team also added estimated liquidation prices and improved the solvency indicators.

ALPHA uses IntentX’s proprietary SL/TP solution that integrates with SYMMIO core contracts, ensuring orders are triggered at the user-specified price points with minimal delay and no gas cost.

Important note: at this early stage the system is only optimized for medium and long-term strategies, with further improvements coming at a later stage.

This list of improvements is not exhaustive, and THENA team be working closely with IntentX and SYMMIO to give its users a trading experience that rivals the best.

Innovating with INTENTS

ALPHA’s innovative approach solves the longstanding dilemma in the digital assets market: the trade-off between the liquidity of centralized exchanges (CEXs) and the security of decentralized exchanges (DEXs). By leveraging a unique Request for Quote (RFQ) and intent-based architecture, ALPHA bridges CEX liquidity to the on-chain world, offering a permissionless, secure, and isolated trading environment without the risk of custody or insolvency issues.

The team aims for ALPHA to be an OTC market facilitator, syncing market maker quotations with trader order flows, while SYMMIO acts as a decentralized, global risk and exposure settlement layer.

ALPHA’s model acts as a liquidity aggregator to ensure deep liquidity and capital efficiency, sourcing from various channels like CEXs, DEXs, OTC desks, and more to provide traders with the best price execution and minimal slippage. This approach results in vastly improved efficiency, security, and scalability compared to vAMM and CLOB-based models.

ALPHA’s Latest Upgrade and the Future of Decentralized Derivatives

This upgrade marks the beginning of an exciting journey to scale our decentralized derivatives exchange on BNB and beyond. With the forthcoming release of ARENA, THENA’s social hub featuring fully permissionless and customizable trading competitions (and more!), THENA’s team is destined to take THE vision even further.

ALPHA’s integration of cutting-edge technology changes the game for on-chain derivatives, delivering secure, affordable, and abundant liquidity to DeFi users. This zero-to-one innovation is already transforming the on-chain derivatives landscape, ushering in a new era of leverage trading on BNB Chain.

https://medium.com/@ThenaFi/introducing-alpha-v0-x-a-new-era-of-derivatives-on-bnb-chain-297f5ff49835

About THENA

THENA is a collaborative effort to build THE ultimate decentralized spot and derivatives exchange. It harnesses the power of ve3,3 to serve as THE Liquidity Hub on BNB Chain.

THENA brings together the best of DeFi, from Algebra’s Concentrated Liquidity AMM to THE Orbs powered Liquidity Hub, with the ultimate goal of simplifying DeFi.

Users can follow THENA on

Website | X | Discord | Telegram | Links

ContactCMO & Co-FounderHeikki PirhonenTHENAben@thena.fi

This article was originally published on Chainwire