Qilin V2 is also launching on BNB Chain as the first EVM-compatible ecosystem expansion. Having Qilin V2 available on BNB Chain has the following advantages:
BNB Chain has one of the largest altcoin markets in crypto;
The relatively nascent development of derivatives market on BNB Chain provides an ideal environment to bootstrap assets' derivatives trading pairs;
BNB Chain's average settlement finality of 3 seconds and average gas cost of 5 Gwei offer superior trading experience for derivatives traders.
In addition, to cater to the demand for derivatives trading, we are also making two features available for Qilin V2 BNBChain:
Functionality: an invitation bond is created between the referrer address and the referee address via the Referral Contract
Settings: the referrer address can earn a 20% rebate from its own trading fees, a 60% rebate from its referee trading fees; the Borabora app can earn a 20% rebate of the referee's trading fee.
Functionality: user presets a price that would trigger stop-loss/take-proff, opening position, or forced liquidation when the price is met;
Settings: while mark price position opening takes a fee of 20% of the gas cost, as forced liquidation fee, limit order openings take two fees each of 20% of the gas cost, as the stop-loss/profit-take and forced liquidation fee.