๐Ÿ”–Announcing JOJO Exchange

Hello Degens, Iโ€™m Jotaro.

ใ€ŒHuman praise is the praise of Bravery!!ใ€This quote comes from one of my favorite manga series, โ€œJoJoโ€™s Bizarre Adventure.โ€ The manga tells the story of the Joestar familyโ€™s generations-long efforts to fight for justice. It always reminds me of the crypto industry we find ourselves in, with many challenges and surprises. But builders still believe in leading the crypto industry toward a more just and inclusive future with courage.

With FTXโ€™s shutdown and Binanceโ€™s regulatory pressure, more and more users are migrating to DEXs. DeFi is snowballing, and Swap and Lending Protocols have become the cornerstone of DeFi. The basic education of the pioneers is complete. At this point, more advanced and complex usersโ€™ trading demands have nowhere to go:

  • Where can I get a higher leverage?

  • Where can I hedge risks?

  • Where can I find better liquidity?

NOW is the best time to build a decentralized derivatives market!

Years ago, my dissatisfaction with the oligarchic financial system favoring the wealthy led me to enter the crypto world and begin building decentralized financial applications.

More than a year ago, I had the idea of building a decentralized derivatives trading platform and invited/persuaded some people to join the team. Everyone is an expert in the DEX/CEX field.

Today, JOJO.EXCHANGE is finally online!

What is JOJO?

JOJO is a decentralized perpetual contract trading platform that uses an off-chain matching and on-chain settlement order book model.

JOJO balances liquidity and composability, providing professional traders with a smooth, fast, low-cost trading experience and hedging capabilities for other DeFi protocols.

JOJO has the following features:

  • Perpetual Contract: Provides liquidity that does not depend on spot assets and can use a single token to open risk exposure to any asset.

  • Mixed Order Book Model: JOJO uses a mixed order book model that matches off-chain and settles on-chain. It not only has the characteristics of high liquidity, low slippage, and low transaction costs of traditional order book models but also retains strong composability. Any smart contract can hold positions on JOJO and use it as the lowest-cost on-chain hedging channel, making the order book model no longer a liquidity island but the infrastructure for on-chain hedging.

  • Multi-asset Collateral System: JOJO is a USDC-based trading model that supports trading using WETH as collateral. It can be extended to collateralize other ERC20 tokens, LST (Liquidity Staking Tokens) assets, or even NFTs.

  • Sub-Accounts: A more versatile position management model that can accommodate more institutional users. Sub-accounts allow users to divide their positions into different groups, such as different strategies or risk levels, to track a positionโ€™s performance better. In addition, you can also give sub-accounts to others for custody, where they will only have trading permissions and not withdrawal rights. This will significantly unleash the potential of trading companies, enabling them to manage customer funds on JOJO in a trustless way.

Our Vision

Security, openness, and sustainable development.

Security: We prioritize security and work with code auditing partners such as Immunefi, Sherlock, and HackenProof.

Openness: Many non-open-sourced protocols may be popular, but only an open-sourced product can form a real community, integrate into the decentralized ecosystem, and benefit more crypto users.

Sustainable Development: The era of easy money in the crypto industry has come to an end. The future belongs to the honest project which adheres to long-termism. We want to build a product with a business model and vitality, loved by users, and able to survive the cycles.

Ethereum L2 is rapidly expanding, and we will continue to keep up with the development of Rollups, making choices that meet user needs regarding security, efficiency, and privacy.

Join me on the bizarre adventure of JOJO Exchange!

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