The FODL price update as of now is $0.0005496. In the previous 24 hours, its trading volume was $607, and its value has increased by 13.95%. As of now, FODL's live market cap is $212,273, and it is ranked as the #1828 on the Coincu. FODL has a circulating supply of 1,007,589,783 and a maximum supply of 1,007,589,783.

FODL Finance: A Revolutionary Decentralized Trading Platform

When it comes to leveraged trading or futures in the Crypto market, most people immediately think of centralized exchanges, however, there are many concerns from users about the transparency of their prices and the assets traded on them. This gave rise to the concept of Decentralized Finance (DeFi), which quickly gained traction with users, particularly decentralized exchanges (DEX).

FODL Finance emerges with the mission of providing traders a completely decentralized trading platform where they can leverage their trades without having to pay funding rates.

The Unique Attributes of FODL Finance

FODL Finance (FODL) is an innovative and fully decentralized platform for leveraged trading and interest-free lending. Unlike other platforms, FODL utilizes liquidity from existing mortgage lending platforms such as Compound and Aave, rather than relying on funding and deposit rates. The project was initiated when the 0xb1 team realized that during times of high market volatility, it was difficult to find low-cost hedging options on both CEX and DEX due to reduced liquidity caused by multiple hedgers, resulting in high funding rates for users.

In essence, traditional DeFi lending platforms are transformed into money markets that offer leverage by transferring assets to oneself. FODL Finance combines various DeFi ecosystem components, including instant loans, mortgage lending platforms, and proprietary position protection bots, to create a fully decentralized leveraged trading platform.

Noteworthy Features of FODL Finance

Fully Decentralized: Embrace True Decentralization

FODL aims to align itself with the core tenets of DeFi, including being fully decentralized in terms of platform structure, revenue distribution model, and user experience. On FODL, all computations and executions are performed on-chain. Users do not need to send their funds to a centralized pool or protocol. They retain control of their positions and have the option to activate stop loss and take profit programs upon opening their positions.

All protocol revenue is utilized to buy back the protocol's tokens from decentralized liquidity pools. This ensures that no revenue is ever sent to a pool's wallet or any central party.

Trustless: The Power of Disintermediation

FODL operates as a permissionless and trustless protocol, allowing anyone to participate without requiring permission from a central authority, in this case, the "FODL core team". All mechanisms on FODL function on-chain and rely on smart contracts.

Note: According to computer science principles, a "trustless" system removes the need for participants to possess knowledge or trust in each other for the system to operate. No central organization holds authority or control over the system.

No Funding Rates: Liberating Traders

In a groundbreaking move, FODL Finance eliminates the reliance on online/off-chain funding rates that are influenced by margin traders' activities on exchanges. The FODL team recognized that by leveraging lending platforms that offer deep liquidity, low volatility, and governance token rewards, a user's position can almost always pay for itself in full.

Funding rates refer to recurring payments made to traders, whether long or short, based on the difference between the perpetual contract market and the spot price.