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The man credited with translating bitcoin's white paper into chinese jihan wu has quietly launched a new venture known as matrix port founded in 2019 the singapore based matrix sport is a platform aimed at professional crypto traders also miners and mining pools matrix port flew largely under the radar the last two years posting a reported 7 million US dollars in revenue during its first year but experts believe that this number at least doubled in 2020 and mostly without much hype or fanfare it's backed by bitmain btc.com and pool bitdeer coinx and bitcon just to name a few metric sport positions itself as a one stop digital assets financial services platform for trading custody investing and lending today it boasts 100 million dollars in daily trading volume 200 million in outstanding loans and 2 billion in asset custody matrix port has come up with two financial products to help mitigate trading risk which could help in bringing peer-to-peer electronic cash to the masses they are the smart trend and dual currency products launched in february 2021 smart trend and dual currency seek to take advantage of bitcoin cash's low fees and solid reputation for functionality while better insulating traders from risk matrix port has cited real user demand as the reason for introducing these two bch products smart trend and dual currency which have already proved popular for clients using btc matrix sports smart trend for bch selects high quality third-party d5 projects and option portfolios on behalf of their clients with the goal of seeing stable revenue and additional earnings from the price rise or drop in bch this also includes compound interest for every cycle matrix port lists the d5 projects under consideration and those change of course with market demand smart trend is obviously catered to the trader concerned with market trends but who does not wish to sell their underlying asset bch matrix board d5 projects as of publication are curve uniswap swerve and flamingo they're chosen based on liquidity security and yield recently purchased a bch bullish smart trend product which stated that if the bch price on the 26th of february was less than or equal to 500 there's a guaranteed 1% apy for that period if the price was greater than 500.
However, traders will earn the corresponding apy up to 18 and a half percent so on this one i'm expected to make some decent returns if you decided to choose the bch bearish smart trend product the process is similar to bullish but of course in reverse the matrix port selling point on this product contains the guaranteed interest and if traders buy the right direction of the market well they stand to profit greater still next there is the matrix port dual currency product which settles in either bch or usdc depending on market movements for professional traders the bch dual currency basically has a matrix port counter party risk. However, since the platform offers 100 hedge the counter party risk is relatively low for bch smart trend risks are similar and obviously they rely upon the integrity of the d5 products chosen dual currency is more like a traditional hedge and it might appeal more to the mining community if the cost of production is for example 300 and the miner is willing to part with their bch at an 800 price point the bch dual currency product is ideal for you assuming bch hits 800 at expiry the miner can sell their bch at that price without slippage conversely if bch is below that 800 the miner can earn more bch the bch dual currency risk of course is that if prices soar beyond eight hundred dollars to say one thousand dollars well then there's nothing quite like the pain of leaving the party too early in this instance maybe sticking to the matrix or smart trend product might make more sense the plat form chose to pair bch with usdc from circle instead of tethers usdt as a regulated stable coin usdc offers less risk and price volatility due to the avoiding of usdt's notorious legal troubles usdc is growing fast and this year alone more than 900 million of it is being held on exchanges making it the world's second leading stable coin pegged to the US dollar traders can purchase bch dual currency in usdc or bch both of which are linked to the price an apy and an expiry date for example if a trader purchased one bch the linked price would be 700 and the expiry date would be the 16th of february for a one day product the apy is 1069% if the bch price is less than 700 on this date traders earn 1.0293 bch if it is greater than or equal to 700 well then they earn 720 dollars traders who purchase usdc on the other hand can earn bch if the settlement price is less than the linked price on the expiry date.
In summary i think that professional traders will find matrix ports bitcoin cash offerings pretty straight forward to interact with however if you're not a professional you may need to conduct some background research before engaging with the platform for dual currency traders choose the yield linked price antenna if at the end of the tenure the settlement price is below the chosen linked price traders will earn more bch a return of the principal and interest in bch if the settlement equals or is above the linked price traders get back the principal and interest in usdc as for the bch smart trend service well traders choose the trend direction either bullish or bearish for the tenor and if their choice is correct they can earn up to 18.5% annualized yield on their bch, if the trade is mistaken they still get that one percent guaranteed apy. one thing matrix port is lacking is the ability to purchase dual currency or smart trend products on a computer in the web browser i found it pretty inconveniencing to have to use the app while sitting in front of my computer which has a much more spacious display i also found it difficult to be able to track my projected profit on the smart trend product because nothing is calculated or displayed until settlement occurs i spoke to matrix port about these issues and apparently both of them are actively under development so matrix port customers can expect this kind of functionality in the future adding to the renewed emphasis in making bitcoin cash a valued trading asset matrix port just a day before listing smart trend and dual currency for bch launched their seychelles based crypto derivatives exchange bit.com which facilitates bch options trading that combination of bch smart trend bch dual currency and bch options might be exactly what traders and peer-to-peer electronic cash advocates are looking for in their quest to match medium of exchange with store of value.
Disclaimer: This content is just for information purpose and traders should conduct proper research,the content is also credited to Bitcoin BCH channel.