Handle.Fi 📊💱📈 Trade Decentralised FX Markets -- $FOREX Token Review

Decentralised News

Welcome to this in-depth exploration of Handle.fi, a groundbreaking decentralized protocol focused on multi-currency stablecoins! If you've ever felt limited by USD-centric stablecoins in the DeFi space, then this video is for you. If you're interested in Multi-Currency Stablecoins in DeFi, you don't want to miss this!

Transcript

00:00hey what's up guys welcome back to the channel in today's video we will be talking about how

00:07you can trade the forex markets using decentralized exchanges so the platform i will be covering

00:16today is called handle fi which is pretty much described as a global defy fx protocol

00:26specializing in multi-currency stable coins okay so if you're interested in learning a lot more about

00:34this and make sure you stay tuned until the end of this video don't forget to hit us with a like

00:40and a subscribe and also share our content leave comments and let us know what other type of

00:47information you'd like us to cover on this channel but without wasting any time let's dive right into

00:54handle fi okay so this is um a protocol obviously operating within this world of digital currencies

01:03and uh we know that stable coins actually aim for a consistent market value by pretty much anchoring

01:10their worth to external assets within handle fi these collateral uh bagged stable coins known as

01:19fx tokens uh actually mimic um and are loosely pegged to a variety of global currencies so handle fi is

01:29built on the arbitram network it serves as a comprehensive solution in defy and the protocol

01:36enables you as a user to effectively engage in leverage trading currency conversions borrowing and

01:44earning through its primary building blocks which are these fx tokens so the global forex market does see an

01:55average daily trading volume of up to about 7.5 trillion dollars that was in 22 2022 and it's reached

02:05actually a staggering 2.74 quadrillion and uh while the usd serves as a global financial backbone for the fx markets

02:16the rapid growth of uh defy has also sort of uh facilitated these u.s pegged stable coins some of which

02:25uh see daily trading volumes of up to 30 billion handle fi expands the options by offering multi-currency

02:34fx tokens which actually empower you as a user to uh engage in a number of financial activities that are

02:44denominated in your chosen currency so what is also important about handle fi is that it's a non-custodial

02:51platform it ensures that you have full control over your assets eliminating the need for third party

02:57mediation and the fx tokens currently available on handle fi include the australian dollar aud the

03:06british pound the canadian dollar chinese renminbi the euro the japanese yen you can also um use the

03:15philippine peso uh and uh the singapore dollar swiss francs or the us dollar so i want to just dive into

03:24how you guys can actually trade forex on handle fi and give you a breakdown is uh uh of the process

03:31i actually went and played around a little bit on the platform it's uh quite um magnificent to get

03:38started you just need to go to app dot handle dot fi connect your web3 wallet for example your metamask

03:47and once you're connected you can then proceed to set up your trades that is either take a long or

03:55short position on the currency pay of your choice and choose the amount of leverage that you like

04:02in this demonstration we do take a 30 long position uh and it's a market position on the usd fx jpy pay

04:13which is the fx tokens for the japanese yen and we choose to use the 5x leverage you have to read

04:20through the terms and conditions okay so you can understand that you are working with the site

04:26that is non-custodial and other terms that they outline there so you make sure you're understanding

04:34the terms and conditions before or after that you can then proceed to actually uh then kind of sign

04:41the signature sometimes you might be required to sign that transaction allowing the smart contracts

04:47of handle fi to also interact with your actual wallet and once that's done you can go ahead and

04:54confirm your trade and everything is set you can confirm your buys um and you can proceed after that

05:03you can also get a confirmation for the transaction fee that you need to pay and once that's processed you

05:09will get that confirmation to say you've successfully longed or shorted uh the pay that you are trading

05:17and every transaction is also uh traceable via abiscan which is arbitrum block explorer if you're

05:25interested in uh also purchasing a forex tokens which is the native ecosystem token for handle fi uh you

05:33make sure that you get the um contract address from uh coin gecko coin market cap for arbitram i think

05:41they're also on polygon and then you add that to your wallet to make sure you are able to do a swap if

05:47you're going to use your wallet to do the swap to get these tokens which is what i did here using metamask

05:53paid the transaction fee as you can see transaction completed so let's talk about the forex token ecosystem

05:59itself and what it has to offer so the protocols native token like i said forex does reward you as

06:06a user for actions that benefit the platform and allow participation in governance to be part of the

06:12handle fi governance users must acquire these ve forex tokens and uh you can then participate in

06:20governance you can also earn up to two and a half uh x boosted rewards for various uh protocol

06:26activities you can also receive a share of the protocols endings through the forex liquidity

06:31provision and if we're talking about just the tokenomics in the distribution there are only 420

06:37million forex tokens that will be minted over an initial 182 week time frame followed by a terminal

06:45inflation rate of 2.1 per cent per year token allocation is varied and designed for long-term ecosystem

06:53health and as you can see here the token is trading very very low but i feel like this has potential

07:00to probably appreciate over time as a lot more forex traders start to use decentralized exchanges

07:07you heard the volumes that i touched on earlier the trillions of dollars in volume that run through fx

07:13markets ultimately a lot of people are going to try to cut out these brokers and actually trade directly

07:20with the non-custodial platforms such as handle fi or other platforms like gains trade for example

07:27so you can also participate in governance strict uh staking of the ve forex uh tokens users are able to

07:35lock up their forex uh or fx usd uh pay for that liquidity pool and the 80 20 ratio for balancer pool tokens

07:46into the governance pool to actually receive for esc escrow the forex or ve for uh forex okay so this

07:53allows you to then participate in governance receive those enhanced rewards and uh also receive a share

07:58of the protocol fees the longer you actually lock up your tokens the more ve forex you're able to receive

08:04pay by increasing your influence and rewards within that ecosystem so the minimum

08:09locking period is also one week the maximum extends to up to a year the weight offer uses ve forex's um tokens

08:19does diminish uh linearly as they are locked tokens near uh the uh expiration as well so let's talk about

08:26the fees on handle fi initiation uh or initiating a vault to actually obtain credit does come with both

08:34upfront and ongoing fees additionally it's crucial to also mention and you need to be aware that there

08:41is a minimal collateral to debt uh ratio uh minimum c ratio um uh to stay clear pretty much of any

08:50potential liquidation so you need to know that the lowest debt uh you can incur at any given time is a

08:56hundred uh this is uh particularly relevant if you're planning to pay down some of your outstanding

09:01debt and the remaining balance falls below that hundred uh threshold so you can also see the

09:08actual uh fees uh for uh minting uh and burning depositing withdrawing liquidation fees redemption

09:17initiation fees and a lot of that so there are also some collateral parameters that you need to

09:24uh take into consideration you can see more information on their website or just check out the

09:29link to the actual full review on our main site on decentralized using you'll be able to see those

09:35and uh we can also talk about these fee structures and uh for pretty much when it comes to trading and

09:41liquidations right when it comes to uh leverage trading itself it's a typical in the sector to

09:46calculate fees based on the entire value of your position which is uh effectively determined by

09:52uh multiplying uh your leverage with your collateral so there are uh those fees that are applicable so

10:00you can see uh for uh cryptocurrency markets uh 1.1 x uh maximum leverage 50 x minimum collateral as

10:08five dollars minimum position in usd five dollars 50 forex 1.1 x 100 x maximum leverage minimum being that

10:18one uh 1.1 in a minimum collateral usd five dollars also minimum position size five dollars 50 the

10:27trading fees are pretty simple as well if btc 0.10 fx no fees at all the spreads are quite clear uh you

10:37can check out like i said the link in the description to see those you can also see the funding fees

10:42etc but uh you also need to understand the liquidation charges okay so on handle five

10:49any trading position is pretty much subject to a liquidation if specific uh criteria

10:55uh known as liquidation triggers um it so your position will cross the liquidation threshold

11:01if it uh if it's a leverage exceeds the maximum that's allowed or if it falls below the minimum

11:08collateral that is required it's also important to note that the value of your collateral is not

11:13static it's uh computed in real time so your ongoing collateral value is essentially your initial

11:19collateral adjusted for any losses in fees that you've incurred and uh like i said on cryptocurrencies

11:27uh your maximum leverage is 100x minimum collateral five dollars forex is 110x minimum collateral

11:33five dollars uh you can also check out some of the conversion fees if you want to make conversions

11:38using the platform at the end of the day at the outset handle five does have this dial governance

11:44that's responsible for determining all fees and system parameters the protocol does have future

11:49plans so actually transition toward algorithmically sort of driven mechanisms for fee and parameter

11:56adjustments in their subsequent upgrades so this is a very um impressive platform like i said i've used

12:04other uh platforms like g trade which you can also check out the link is in the description that allow you

12:11to access foreign markets forex markets uh using uh decentralized uh marketplaces and uh handle five does

12:21seem to be one of those impressive platforms i think it's going to do very well over time so keep

12:27an eye on it check it out and also let me know what you think about the product itself i think is pretty

12:32impressive if you're interested in learning more about centralized finance etc check out the link in

12:37the description to my book d5 millionaire you can find that at d5-millionaire.com you can also

12:43check out the links to my other books tokenized trillions and blockchain applied they will

12:49let you know a little bit in depth about uh real world asset tokenization and the different use

12:53cases of distributed ledges across multiple sectors also make sure you join our telegram and our discord

12:58and a lot of our other socials the link are in the pinned comments in the description as well

13:05and like share subscribe man turn on the notifications i will see you guys in the next video

13:19you

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