Position Exchange & Development Plan
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Position Exchange is a Decentralized Trading & Exchange platform designed to provide a transparent, trustless, and fully on-chain trading platform.
With the core being an on-chain orderbook matching engine, Position Exchange helps traders to have full control over their orders while reducing transaction costs and remains the same trading experience in a Centralized Exchange.
It is built for EVM blockchains and is completely permissionless. Partners can work with Position Exchange’s on-chain central orderbook to share liquidity and power unique features for a better user experience.
Our team has side-by-side worked hard to develop several features regularly, which will lay a solid foundation for future development and improvements.
There are still plenty of achievements lined up in the coming time. We proudly present our roadmap for the ecosystem as below.
The development is divided into 4 underlisted phases.
Developing an exchange platform from scratch, our team has begun with the release of very first basis features.
- Launched POSI Token
Starting with our first native token on BNB Chain, POSI ensures network stability while paying the transaction cost. It represents the governance token of the Position Exchange ecosystem while benefiting users through the Futures Trading Revenue Buyback & Burn program.
- Launched Farm/Pool
POSI holders can stake the tokens in Staking Pools and generate rewards and transaction fees. Moreover, farming allows Liquidity Providers to earn rewards by staking LP tokens.
- Launched NFTs
We have introduced NFT, a non-fungible token with distinct characteristics and varying rarities. This feature allows users to generate rewards by depositing POSI tokens, trading, auctioning, or staking them in NFT pools.
- Listed on top exchanges
Successfully introduced, POSI tokens have been listed and are available for purchase on many reputable exchanges. For example, KuCoin, Bybit, Gate, MEXC, etc.
As implementing an EVM on-chain orderbook requires hard work, many teams have failed to do so. Position Exchange takes this part for testing and provides the proof of concept. As a result of our successful implementation of a trading protocol, we have the following results:
- Futures Trading on BNB Chain Mainnet
Leveraging the matching engine, Position Exchange offers a Futures Trading protocol with an on-chain orderbook that ensures transparency, trustlessness, low cost, and high speed. In Futures trading, you can trade with leverage and are only required to fund the initial margin to open positions in a futures contract.
In this version, we only have BTC and BNB Perpetual contracts.
- Stable DEX Core on BNB Chain Mainnet
Expected to be the heart of the whole ecosystem, Position Exchange offers a stable spot trading DEX with lower transaction costs, fully operating limit orders and higher quote rates. Using the Orderbook mechanism, not AMM like others, it can, therefore, eliminate the “Sandwich Attack”.
- Launched Bonds V1
Position Exchange has launched its first version of Bonds including All Bonds (for viewing and purchasing available bonds), Exchange (facilitating users to buy, exchange, and sell bonds), and Lanchpad (allowing projects, companies, and individuals to issue their own bonds easily by providing collateral).
- Cheaper transaction cost
At Position Exchange DEX, we offer cheaper gas fees than other similar DEXs, which is just under 200,000.
From theoretical to real-world use is a complicated process. After calculating and screening the limitations and benefits of our product, we outline phase 3 in which we improve, upgrade, and launch new versions of features.
- DEX Liquidity Pools
We had a vision of a future when the DEX is the heart of our ecosystem. We will focus on resolving the mechanism for liquidity pool of the DEX. The mechanism and algorithm are expected to be completed in September.
- Futures Cross-chain Bridge
POSI Chain serves as the order processing center where all orders are transferred to for completion. This feature enables the opportunity to implement Futures Trading on multiple blockchains while keeping the orderbook in a central place and reducing the transaction fees. Futures Bridge will be added to Futures once at least 10 trading pairs are going live. Its Testnet is outlined to be introduced in September, while its Mainnet is expected to launch in Q4 2022.
- More Trading Pairs
Since we planned to add more Trading pairs in Trade feature, we expected to improve its utility while providing users with more options.
- Bonds V2
Bonds version 2.0 will be launched soon with the introduction of our brand new bond - Position P2P Bond. Issuing P2P bonds is the simplest and cheapest fund mobilization without selling collateral assets with no process and approval required. Position Exchange initially charges no fee except for a 1% RFI fee (POSI token V2) for each P2P bond being issued. Bondholders can use P2P Bond to exchange on Bond Exchange and earn more yield.
- Permissionless DEX
The permissionless DEX enables users to connect, access, and use Position Exchange without prior permission, approval, or authorization, as public blockchains due to its open nature while benefiting from the uniqueness of the Position Exchange on-chain orderbook mechanism. This enables users to keep their identities completely hidden while also ensuring the safety of investors' assets.
- Grants for projects
Our Position Exchange can serve as a foundation for other parties or developers who wish to reuse the core and our UI Kit for their own DEX development.
Entering phase 4, our main vision is to build a community driven protocol using innovative instruments in order to support POSI holders and boost the ecosystem values. In an attempt to make Position Exchange a strong DeFi platform comparable to other leading blockchains, we are attempting to build crosschain bridges, constantly launch new features, and attract new users.
- Borrow/Lending (Margin Trading)
Margin trading is a way of using funds provided by a third party to conduct asset transactions. Compared with regular trading accounts, margin trading accounts allow traders to obtain more funds and support them in using positions.
- More cross-chain bridges
At the moment, our POSI Bridge only offers to transfer POSI from BNB Chain to POSI Chain and vice versa. Our ambition is to build more cross-chain bridges among several leading blockchains, such as Ethereum, Polygon, and Avalanche in the future.
- Projects building on Position Exchange core
As being mentioned, we are striving to create an ideal environment where more projects based on the Position Exchange core are being developed.
- Users, volume and TVL growth
The ultimate vision behind Position Exchange is to become the first exchange of choice. One conceptualization of this goal includes the milestones of reaching a billion users and a trillion of on-chain value while accomplishing trade volume and TVL growth.