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Order Book DEXs vs. AMM Perpetual DEXs: Advantages and Disadvantages
Decentralized exchanges (DEXs) utilize different models for trading, primarily order books and Automated Market Makers (AMMs), each with distinct implications for liquidity, price discovery, and user experience, especially in the context
Hyperliquid vs. GMX vs. dYdX: A Perpetual DEX Comparison
Decentralized perpetual exchanges (Perp-DEXs) offer self-custody and transparency, contrasting with centralized platforms. This article compares Hyperliquid, GMX, and dYdX, highlighting their distinct models, liquidity approaches, and
HyperEVM Explained: Hyperliquid's Smart Contract Layer
HyperEVM is Hyperliquid's Ethereum-compatible smart contract layer, enabling Solidity developers to build decentralized applications directly on the high-performance Layer-1 blockchain. It allows these contracts to interact seamlessly with
Hyperliquid: Understanding the On-Chain Order Book
Hyperliquid is a specialized decentralized exchange built on its own Layer 1 blockchain, designed for high-performance perpetual derivatives trading. It offers a fully on-chain order book, aiming to combine the speed and efficiency of
The GMX GLP Pool: How Liquidity Providers Become Counterparties
The GMX GLP pool is a multi-asset liquidity pool that enables decentralized perpetual and spot trading on the GMX platform. Participants who provide assets to this pool become liquidity providers, effectively acting as the counterparty to
GMX V1 vs. V2: Changes in the Perpetual Trading Model
GMX, a leading decentralized exchange for perpetual futures, underwent a significant architectural overhaul from its V1 to V2 iteration. This evolution fundamentally reshaped its liquidity model, pricing mechanisms, and asset offerings,
Undercollateralized Lending in DeFi: Opportunities and Risks
Undercollateralized lending in decentralized finance allows borrowers to obtain loans with collateral valued less than the loan amount, a significant departure from traditional DeFi overcollateralization. This approach aims to enhance
Fixed vs. Variable DeFi Loans: A Comparative Analysis
Decentralized finance offers two primary types of loans: fixed-rate and variable-rate, each with distinct implications for borrowers and lenders. Understanding their underlying mechanics and risk profiles is essential for effective
Fluid (Instadapp) Smart Collateral and Smart Debt Explained
Fluid by Instadapp introduces a novel approach to decentralized finance by integrating lending, borrowing, and trading into a single, capital-efficient system. Its core innovations, Smart Collateral and Smart Debt, allow users to leverage
MarginFi: Solana's Cross-Margin Lending Protocol Explained
MarginFi is a decentralized lending and borrowing protocol on Solana that enhances capital efficiency through a unified collateral system. It allows users to supply assets to earn interest and borrow against a single pool of collateral,
Kamino Finance: Automated Liquidity and Lending on Solana
Kamino Finance is a decentralized finance protocol on Solana that unifies lending, borrowing, automated liquidity provision, and leverage products. It aims to enhance capital efficiency and simplify user interaction with complex
Silo Finance: Isolated Lending Markets as a Risk Model
Silo Finance introduces a novel approach to decentralized finance lending by creating isolated markets for each asset, fundamentally altering how risk is managed within the protocol. This design prevents a single asset's vulnerability from
Term Finance: Auction-Based Fixed-Rate Lending in DeFi
Term Finance in DeFi refers to decentralized lending and borrowing platforms that offer fixed interest rates for a set period, often determined through transparent auction processes. These mechanisms provide predictability in yield and
Notional Finance: Fixed-Rate DeFi Lending Explained
Notional Finance introduces fixed-rate, fixed-term lending and borrowing to the decentralized finance (DeFi) ecosystem. This innovation provides predictability and new strategic opportunities for crypto participants.
Maple Finance: Institutional On-Chain Lending Explained
Maple Finance is an on-chain credit marketplace connecting institutional borrowers with decentralized capital. It facilitates both undercollateralized and overcollateralized loans through professional credit underwriters.
Liquity Stability Pool: How Liquidations Are Processed
The Liquity Stability Pool serves as a vital defense mechanism, absorbing debt from liquidated collateralized debt positions to maintain the protocol's solvency. Participants deposit LUSD to collectively repay bad debt, receiving
Liquity V2 (BOLD): User-Set Interest Rates and Stability
Liquity V2 introduces BOLD, a decentralized stablecoin backed by ETH and Liquid Staking Tokens, featuring innovative user-set interest rates. This upgrade enhances flexibility and decentralization, allowing borrowers to control their costs.
Maker's Peg Stability Module: How DAI Maintains its Peg
The Peg Stability Module (PSM) is a core component of the Maker protocol designed to keep the DAI stablecoin's value consistently at one US dollar. It achieves this by allowing users to swap DAI for other approved stablecoins like USDC at
Sky Protocol and the USDS/SKY Rebranding of MakerDAO
Sky Protocol represents the evolution of MakerDAO, introducing the USDS stablecoin and the SKY governance token to enhance decentralized finance. This rebranding aims to deliver more scalable, resilient, and user-centric DeFi services.
The 2023 Euler Finance Flash Loan Exploit Analysis
The Euler Finance protocol suffered a significant flash loan attack in March 2023, resulting in the theft of nearly $200 million. This incident highlighted critical vulnerabilities in DeFi lending protocols and the sophisticated nature of