Brightpool Finance, a New DeFi Platform, Soon to Launch Public Testnet
[PRESS RELEASE – Please Read Disclaimer]
Brightpool brings a sophisticated type of trading based on a new bid-to-earn model.
It’s the first DeFi platform to reward traders for placing orders instead of charging commissions, and it’s launching its public testnet this fall.
The platform will be tested in 2 phases. First, select Brightpool users will be able to create a test wallet on Polygon’s Mumbai network to test the basic functionality of the exchange. This phase will be accompanied by a bug bounty program. In the second phase – after completing the audit – we will deploy the testnet on the polygon mainnet. In this episode we will launch the most professional airdrop in the space, awarding the best traders with prizes worth thousands of USD.
The purpose of the testnet is to demonstrate the exchange’s advanced price engine algorithm (based on the BSM model) as well as to give early adopters the opportunity to familiarize themselves with a new method of trading that provides traders with instant rewards (issued in native BRI tokens) every time an order is placed. (#bid2earn), whether the order is executed or not.
Brightpool’s order types are future order durations of 1, 3, 5, 7, 14, and 28 days. Reward incentives are calculated by the pricing engine per instance. The sale of 1 BTC on the platform will generate a reward equivalent to around 1000 USD depending on various factors. The order pricing algorithm is based on a crypto-adjusted version of the Black-Scholes-Merton model, which won the Nobel Prize in 1997 for advances in derivative valuation. The Brightpool Finance Native Token, BRI, is implemented using the LayerZero protocol, giving it greater cross-chain capabilities.
Lukas Kobus, pool master at Brightpool, said of the platform that it “will be an absolute game changer for the DeFi ecosystem” and will “inspire new types of projects with an innovative way of releasing tokens to the market. Our native token, BRI, unlike most projects in DFI, has a strong fundamental value. “I believe Brightpool will start a true DeFi 2.0 trend of platforms with their own liquidity and fundamentally strong staking to stake native tokens with rewards in stablecoins and ETH.”
A comprehensive formal verification audit of the platform is being conducted by CertiK. Brightpool has yet to reveal an official date for its launchpad. Interested traders can follow Brightpool Twitter, TelegramAnd dispute Account to stay updated with upcoming news.
Brightpool Finance is the world’s first DeFi protocol that pays users for placing orders. Brightpool is built for increased speed and scalability on Polygon’s PoS chain, and its tokens are deployed on the LayerZero protocol, increasing interoperability between chains. Its BRI token is the first to use a new release mechanism called ‘Proof of Bid’ (POB), which adds a strong, fundamental value to BRI, and its pricing algorithm is based on crypto-adjusted Nobel-prize winning Black-Scholes. Based on -Merton Model (BSM). Brightpool is able to offer multiple ROIs to traders due to its pool structure, revenue sharing, advanced pricing engine technology and volatility hedging aspects of its tokens.
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