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| ==Basics ==
| | HEY NIGGERS DID YOU KNOW I DRINK CAT MILK?! |
| * Founded in: [https://finnexus.io/about 2019]
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| * [[Mainnet]] release: FPO was [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 launched] on Ethereum on 4th November and on Wanchain on 11th November.
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| * Based in:
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| * From this [https://medium.com/coinmonks/a-comparison-of-decentralized-options-platforms-140b1421c71c blog] (25-6-2020):
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| "''[https://twitter.com/fin_nexus FinNexus] is building an open finance protocol to power hybrid marketplaces that trade both [[decentralized]] and traditional financial products. FinNexus has already launched the first real-world tokenization product called UM1S, together with the process of [https://github.com/FinNexus/Pdfs/blob/master/ICTO_en.pdf ICTO], while the [https://medium.com/finnexus/an-introduction-to-finnexus-protocol-for-options-fpo-v0-1-197ab6bed173 decentralized option protocol V1] is due for release in Q3 this year according to the [https://medium.com/finnexus/the-finnexus-fnx-2020-roadmap-a1f02c4decee 2020 roadmap]."'' Got [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 released] (1-12-2020).
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| == History ==
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| == Token ==
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| === Launch ===
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| * From their [https://www.docs.finnexus.io/ docs] (6-3-2021):
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| ''"An open subscription event for the FinNexus platform token FNX was held in May of 2020 using FinNexus's innovative [[ICTO]] token offering model. 44 million tokens were made available during the subscription event. The subscription rate at the end of the event was ~95%. The conversion period ended on 26th August 2020."''
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| === Token allocation ===
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| * [https://medium.com/finnexus/fnx-tokenomics-update-382dcbc5d1b9 Changed] its allocations after community feedback. Which drastically changed the allocation towards community mining and [[Burn Mechanisms|burned]] more than half of its original token supply (25-8-2020);
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| # Mining Incentives & [[DAO]] 70%
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| # Team & Founding investors 5%
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| # Insurance Pool 5%
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| # Reserved for future token sales 5%
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| # Operation Reserved 4.5%
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| # Institutional investors 1.7%
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| # In circulation 2.7%
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| === Utility ===
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| === Token Details ===
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| * The FNX tokens exist in both [[ERC20]] and WRC20 form.
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| === Stablecoin ===
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| == Tech ==
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| * [[Whitepaper]] can be found [https://finnexus.github.io/Pdfs/FinNexus_Whitepaper_en.pdf here] (2019).
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| * Code can be viewed [https://github.com/FinNexus/ here].
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| === Implementations ===
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| * Built on: [[Wanchain (WAN)|Wanchain]], from this blog (25-6-2020); ''"The first version will be launched on Wanchain Blockchain, which provides much faster [[transactions]] and lower [[gas]] fees. Also, it will comprehensively integrate Wanchain’s cross-chain mechanism to allow for options based on [[BTC]] and other crypto assets. The next step is to simultaneously run the options protocols on Wanchain and [[Ethereum]] together."''
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| *Also [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 live] on Ethereum (1-12-2021); ''"Later it may come to [[Elrond Gold (eGLD)|Elrond]], [[KardiaChain (KAI)|Kardiachain]] and more."''
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| * Programming language used:
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| === Transaction Details ===
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| * Capacity ([[TPS]]):
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| * [[Latency]]:
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| === How it works ===
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| * From its own [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 blog] (1-12-2021):
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| ''"FPO v1.0 is a [[decentralized]] peer-to-pool options model, built with pooled [[liquidity]]. Like [[Hegic Protocol (HEGIC)|Hegic]], the beauty of pooled liquidity is that it accumulates liquidity from all market participants simultaneously and automatically. The risks and premiums are also shared equally across the entire group of liquidity providers so that no individual participant is at high risk and all participants can share in the rewards.''
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| ''FinNexus calls FPO the Universal Options Platform. It is called that because the pools can support any underlying asset on any base layer [[blockchain]]. Since FinNexus partnered with [[Chainlink (LINK)|Chainlink]], if they have a price feed for it, FinNexus can include it in our options liquidity pool.''
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| ''MASP stands for Multi-Asset-Single-Pool model, and it is the core mechanism and innovation in the FPO platform. Multi-Asset means that FPO is supportive of multiple assets as the underliers of options, as well as the ones contributing to the collateral. Single-pool represents that the options live are powered by joint liquidity, which doesn’t necessarily mean that there is only one liquidity pool. There are currently two pools on Ethereum, a [[USDC]] pool, and an FNX pool. There is also one WAN/FNX hybrid pool on Wanchain, dually backing the issued options.''
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| === Mining ===
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| === Staking ===
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| === Interoperability ===
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| === Other Details ===
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| == Privacy Method being used ==
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| === Compliance ===
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| == Oracle Method being used ==
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| * From its own [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 blog] (1-12-2021):
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| ''"Since FinNexus partnered with [[Chainlink]], if they have a price feed for it, FinNexus can include it in our options [[liquidity pool]]. Key parameters for pricing options include the underlying asset price feeds such as [[BTC]]/USD, ETH/USD, [[LINK]]/USD, [[MKR]]/ETH, and [[SNX]]/USD. Most critical to these calculations is a source for IV. In contrast to [[Hegic Protocol (HEGIC)|Hegic]] which requires manual input based on skew.com data, FPO uses live feeds from [[Deribit Exchange|Deribit]] to provide these crucial data points to the FPO v1.0 [[smart contracts]]. In another differentiator with Hegic, an adjustment coefficient is added to the pricing formula to make the pool more balanced with regard to risk.''
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| * From their [https://www.docs.finnexus.io/options/risks/ docs] (6-3-2021):
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| ''"Also, FinNexus is cooperating with [[Band Protocol (BAND)|Band Protocol]] for price feeds on Wanchain."''
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| == Their Other Projects ==
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| === DEX ===
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| == Governance ==
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| * From their [https://www.docs.finnexus.io/governance/ docs] (6-3-2021):
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| ''"While the long term goal is 100% community controlled governance, during this interim period, the FinNexus team will take a more hands on role in making certain that governance gets off on the right foot.''
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| ''Governance will take place primarily through the official discussion forum and through [[Snapshot]]. Proposals must be made on both the [https://snapshot.page/#/finnexus Ethereum Snapshot] and [https://vote.wandevs.org/#/ Wanchain Snapshot] pages. Proposals must be identical for each Snapshot, and the voting time should be set to occur on a block which occurs at roughly the same time on both chains. The governance process begins on the [https://forum.finnexus.io/ FinNexus Governance Forum] where proposals are first submitted for discussion. If the community signals its interest and any necessary modifications to the proposal are made, the proposal is submitted to Snapshot for voting. During the interim governance period, only Core proposals are binding. Core proposals are those made by [[addresses]] whitelisted by the FinNexus team.''
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| ''If a Snapshot proposal passes and no code is required to be implemented, the approved action will be taken directly by the team. If code deployment is required, the code will go to audit if necessary, and there will be a period for public review of at least one week before the code is deployed.''
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| * From their [https://medium.com/finnexus/fnx-tokenomics-update-382dcbc5d1b9 blog] (25-8-2020):
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| ''"Our transition to a fully decentralized structure was highlighted in our initial [[whitepaper]] and remains on track for 2024."''
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| === DAO ===
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| === Self Funding Mechanism ===
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| == Upgrades ==
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| == Roadmap ==
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| * Can be found [https://medium.com/finnexus/the-finnexus-fnx-2020-roadmap-a1f02c4decee here] (17-1-2020).
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| == Audits ==
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| * [[Bug bounty]] program can be found [insert here].
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| *Its docs (6-3-2021) [https://www.docs.finnexus.io/options/risks/ say] ''"The audit process of FPO v1.0 is still in progress."''
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| * From this comparison [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 blog] (1-12-2021), the options have a [[timelock]]:
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| ''"One-hour Chill Time. To protect against possible [[flash loan]] exploits in FPO v1.0, a special mechanism called ‘Chill Time’ is designed, during which the options buyers cannot sell or exercise the options, and the pool participants cannot withdraw their assets out of the pool. ‘Chill Time’ is set to be one hour."''
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| === Bugs ===
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| == Usage ==
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| * Has a [[TVL]] of 7,855,425 USD, only 701,727 USD of which are on [[Wanchain (WAN)|Wanchain]] (6-3-2021).
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| === Projects that use or built on it ===
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| == Competition ==
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| * [[Hegic Protocol (HEGIC)|Hegic]], [[Primitive Finance|Primitive]], [[Opyn]], [[Opium Protocol (OPIUM)|Opium Protocol]] and other option platforms.
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| * From its own [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 blog] (1-12-2021):
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| ''"Since FinNexus partnered with [[Chainlink]], if they have a price feed for it, FinNexus can include it in our options [[liquidity pool]]. Key parameters for pricing options include the underlying asset price feeds such as [[BTC]]/USD, ETH/USD, [[LINK]]/USD, [[MKR]]/ETH, and [[SNX]]/USD. Most critical to these calculations is a source for IV. In contrast to Hegic which requires manual input based on skew.com data, FPO uses live feeds from [[Deribit Exchange|Deribit]] to provide these crucial data points to the FPO v1.0 [[smart contracts]]. In another differentiator with Hegic, an adjustment coefficient is added to the pricing formula to make the pool more balanced with regard to risk.''
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| == Coin Distribution ==
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| == Pros and Cons ==
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| === Pros ===
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| * From its own [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 blog] (1-12-2021):
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| ''"The pricing mechanism coded is more dynamic and can auto-balance the risk in the pool."''
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| === Cons ===
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| * For security reasons, options have a [https://medium.com/coinmonks/an-update-of-a-comparison-of-decentralized-options-platforms-91b14d3a6170 1 hour] [[timelock]], this however also makes the project less flexible for users (1-12-2021).
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| == Team, Funding, Partnerships, etc. ==
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| === Team ===
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| * Full team can be found [https://finnexus.io/about here] (6-3-2021).
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| *Boris Yang; Founder & CEO
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| *Lu Jianqiang; CTO
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| *Veerender Singh; community manager
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| *[[Jack Lu]]; advisor (Wanchain Founder)
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| === Funding ===
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| * [https://medium.com/finnexus/finnexus-completes-1-5-round-of-financing-8ceae0781ac8 Raised] $1.5M in a round led by [[IOSG Ventures]] (16-3-2021).
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| === Partners===
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| * From their [https://finnexus.io/about website] (6-3-2021):
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| [[Consensus Lab]], [[Chainlink (LINK)|Chainlink]], [[Band Protocol (BAND)|Band Protocol]], [[KardiaChain (KAI)|Kardiachain]], [[Elrond Gold (eGLD)|Elrond]], [[Wanchain (WAN)|Wanchain]], [[TRG Capital]], Kyros Ventures & [[Genesis Capital|Genesis Group]].
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| * [https://dfi.money/#/ Mentioned] (12-7-2021) as a partner on the website of [[DFI.Money (YFII)]]
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| ==(:==
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