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Welcome to Spin
DeFi derivatives infrastructure built on NEAR Protocol.
Spin's Elevator Pitch
Who are we?
Spin is a DeFi derivative infrastructure built on NEAR Protocol, a reliable and scalable L1 solution. The on-chain order book solution offered by Spin provides a CEX-competitive experience to DeFi users.
Founded in June 2021, Spin was the first product to offer on-chain order book solution on NEAR Protocol. 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, opportunity to price different types of instruments, and trading robots interoperability.
The order book based infrastructure unlocks the opportunity to change various types of assets with different levels of complexity in the DeFi space including but not limited to perpetual & quarterly futures, power perpetuals, floor perpetuals, options, exotic options, everlasting options, options vaults, basis trading, fixed yield, structured products, and RFQ.
Our mission
Spin aims at providing the NEAR Protocol users and projects with a comprehensive infrastructure for building and trading on-chain spot assets and derivatives, and ensuring a CEX-competitive user experience. Thus, Spin’s mission is the extension of DeFi services offered on NEAR Protocol and other blockchains as well as the attraction and onboarding of the CeFi audience to on-chain trading and investments.
Core Know-Hows of the Spin DEX
- 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. Currently, 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's perpetuals will support leveraged trading, cash settlements, and multi-collateral features.
- 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 10d ago