SAN FRANCISCO - PinPet has disclosed its arrangements towards the launching of the decentralized exchange on Solana’s mainnet. This is a significant move forward for the project as it transitions from development to live market deployment.
The imminent mainnet launch makes PinPet a fresh
player in Solana’s fast-growing decentralized finance sector that is
specialized in offering solutions for efficient high-performance leveraged
trading, low-latency execution, and capital optimization. It has been created
on Solana to be very fast and cheap in terms of network costs, while at the
same time providing some of the most sophisticated trading tools that are usually
found in centralized exchanges.
The DEX with leverage by PinPet is targeted towards
traders who want to have off-chain custodian free leveraged positions. The
platform, according to them, incorporates smart contract risk mitigating
features, clear methods for selling under duress and prices that change as they
happen so that trade can be safe and effective.
“Leverage, speed, and transparency are what traders
desire today without losing their rights to ownership,” said a PinPet
spokesperson. “This mainnet launch aims at providing advanced trading
functionalities while keeping faith with decentralization.”
Over the past few months, the team has engaged in
internal testing, stress simulations, as well as security audits to guarantee
that the platform can operate optimally under mainnet conditions. PinPet claims
that it has enhanced the system to cater for increased transactions and
unstable markets which are typical problems experienced by on-chain leveraged
products.
Apart from its basic trading features, PinPet
intends to introduce liquidity incentives and ecosystem enhancements during the
mainnet launch phase. These measures seek to draw in early adopters, enhance
liquidity, and ensure sustainable market activity right from the start.
This launch coincides with an increase in developer
and trader interest following network updates and rising on-chain activity
witnessed by Solana. The demand for leveraged trading remains high within
decentralized finance sector and this is what PinPet hopes to capitalize on
through developing a platform that is tailor-made for Solana’s structure.
PinPet stressed that educating users about risks and
making them aware of such risks will form a key part of its rollout strategy.
Leveraged trading is highly risky, and therefore the platform intends to offer
understandable documentation, dashboards, as well as safety nets for aiding
users in making rational choices.
After the mainnet launch, PinPet anticipates adding
more features like increased asset coverage, advanced order varieties, as well
as deeper integrations into the Solana DeFi ecosystem. These updates will be
rolled out progressively to ensure stability and optimal performance according
to the team.
As it approaches its mainnet launch date, PinPet
presents itself as a new alternative for traders interested in decentralized
leverage on Solana.
0 Comments