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OpenLeverage Launches Mainnet on the Arbitrum

Wed, 02/15/2023 - 12:30
OpenLeverage Launches Mainnet on the Arbitrum
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With strong community support, OpenLeverage has been deployed on Arbitrum One mainnet beta. Arbitrum is OpenLeverage's fourth public chain after Ethereum, the BNB Chain, and KuCoin Community Chain.

OpenLeverage ($OLE) is a permissionless lending and margin trading protocol with aggregated DEX liquidity, enabling traders to long or short any trading pair on DEXs efficiently and securely. Anyone can create lending pools to support margin trading for specific token pairs with liquidity pools on DEXs. OpenLeverage is currently deployed on Ethereum, the BNB chain, KCC, and more recently onto Arbitrum. OpenLeverage currently has grown to more than $800M total trading volume, with more than 101K trades and 37K active users.

OpenLeverage will enable permissionless leveraged trading for the Arbitrum community. Members will now have access to more decentralized exchanges and create any pair that has depth, as well as lend, long or short on the Arbitrum. No permission is required to create a margin trading market for any specific pair with isolated and market-adjusted risk controls. This makes it easier and more convenient for Arbitrum users to apply leverage to amplify their trading capital and utilize strategies to enhance their margin trading.

OpenLeverage’s deployment on Arbitrum will provide benefits to both communities:

  • OpenLeverage will provide more support for long-tail tokens like – $MAGIC, $GNS, $RDNT, $GRAIL, and more.
  • OpenLeverage has the latest setup and zero fees on major pairs, with best prices captured.
  • Lenders can generate more and higher yields for their majors compared to other lending protocols on Arbitrum.
  • Their upcoming permissionless liquidity market will enable Arbitrum borrowers to provide any token as collateral to borrow majors.
  • Both lenders and traders can benefit from their generous rewards program

Since its mainnet beta launch in May 2021, Arbitrum has seen explosive growth as a leading Layer 2 blockchain designed to scale Ethereum and provide rapid transactions in a low-cost infrastructure. Arbitrum has seen tremendous growth in daily active users, on-chain TVL, and share of transactions, with enhanced security and privacy controls. 

Since August, weekly transactions on Arbitrum have skyrocketed over 550%, with the Arbitrum network now commanding more than 62% of the weekly transactions on Ethereum.


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