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Welcome to Spin
DeFi derivatives infrastructure built on NEAR Protocol.
Spin is a 360° decentralized trading platform on NEAR Protocol. Spin offers a wide range of products designed to meet the demands of both novice and savvy traders, DeFi investors, and passive income seekers.
The backbone of the Spin products’ ecosystem is formed by its fully on-chain order book that provides a CEX-competitive experience to Spot and Perpetuals traders and allows for building more complex derivative products including Power Perpetuals, Floor Perpetuals, Options, Structured Products, etc.
At the same time, Spin is building one-button solutions for DeFi investors that simplify users’ access to more complex trading strategies e.g. Option Vaults and various Automated Investment Products.
Founded in June 2021, Spin was the first dApp to offer an on-chain order book solution on NEAR Protocol. In April 2022, Spin pioneered with the first order book DEX and in September 2022 launched the first on-chain Perpetuals on NEAR Protocol. That makes Spin a trendsetter in the field of the order book and derivatives trading within the NEAR ecosystem.
The advantages of the order book model include better user experience compared to AMM, flexible liquidity, easy access for institutional traders, secure and transparent on-chain verification, the opportunity to price different types of instruments, and trading robots interoperability.
Spin is on a mission to provide the DeFi users a comprehensive products’ ecosystem for decentralized and permissionless trading and investments with a CEX-competitive user experience.
- Central Limit Order Book model Spin uses a single asset pool, the liquidity of which is sent for market making to the order book. Thus, traders will always have enough liquidity for comfortable trading, and investors can profit from the sophisticated market-making mechanism developed by the Spin team.
- Spot trading The current version of the Spin spot DEX on NEAR is the first order book implementation that supports on-chain order matching and NEAR wallet connection. The Spin spot DEX is already live on mainnet: https://trade.spin.fi. Spin also provides users with an opportunity to make instant token swaps at the market price in a single click. Spin boasts lower fees compared to AMMs. On Spin, for example, on the NEAR/USDC market takers pay 0.1% where 0.05% goes to makers and another 0.05% – to the treasury fund. As for USN/USDC, the taker fee is 0.04% and the maker’s rebate is -0.02%. At the same time, NEAR Protocol’s largest AMM Ref Finance charges 0.3% from swappers.
- Perpetuals Spin offers a decentralized way to trade perpetual futures contracts meaning that traders have no need to rely on centralized exchanges and trust their funds to a single entity. Instead, funds are stored on users' wallets e.g. NEAR wallet. Spin currently supports trading with up to 10x leverage. Try trading on-chain Perpetuals on the mainnet: https://perp.spin.fi.
- Options The goal of Spin in terms of options trading is to provide a decentralized platform for their operation and to ensure a convenient and easy-to-use foundational block for well-versed, expert traders and as well as novel traders. Spin will support partial collaterization for options.
Last modified 17d ago