What is Logium?
Logium aims to solve the problem of decentralized finance and open the free market of derivatives. It claims to be the first platform that allows users to go long or short on any token on Uniswap.
With Logium, you can bet with other users on whether the token will go up or down in value and use a multiplier to predict the future value. Logium currently adds new tokens daily from Uniswap, and you can stay updated on new additions by following their official Twitter Profile.
The platform is fully transparent and does not hold any user assets; therefore, you can rest assured that your funds are secure. To read further on Logium’s security audit, follow this link.
How does Logium work?
It is pretty simple to take bets on Logium. The P2P betting system enables users to use leverage and trade over 500 assets on Uniswap by taking both long and short bets on leverage.
To participate, you would first need to connect your wallet with Logium. The current wallet supported is Metamask, but other wallets will be available soon, such as Wallet Connect, Coinbase Wallet, Formatic, and Portis.
Once your wallet is connected, simply choose any token you wish to bet on; currently, users can bet on ten tokens, including ETH, BTC, SHIB, HEX, APE, etc.
Users can choose a bet that already exists on the list or simply create a new chance. Professionally referred to as “option” or “position,” the “bet” is a peer-to-peer agreement between two users about the future price of any ERC20 asset.
Only one user that is right about the price prediction will earn 100% of the opponent’s bet. These transactions are settled for a fixed duration of time which can be up to 1 hour, 6 hours, one day, seven days, or 30 days.
All bets on the platform are secured by USDC deposits that the users make. Logium has only ten listed tokens on the beta phase; however, they wish to decentralize the process of listing additional assets in the future. This will make give the…
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