Algorithm pegged synthetic assets minting platform, Zerogoki has announced the listing of its token “REI” on BitWell Exchange (Bitwellex.com) on the 8th of August 2021 at 8:00 a.m. UTC. BitWell is a crypto derivatives exchange and aims to provide a wide range of services such as digital asset derivatives trading to global users.
Zerogoki is the pilot protocol developed by the passionate team behind the Duet protocol which is committed to building a parallel financial universe governed by DAO. REI will start trading with the USDT pair.
On Aug 04, Zerogoki and BitWell had a joint community interaction where both parties successfully held AMA events on Telegram with participation from more than 70,000 users. The community users interacted actively and had a strong response.
From 4 Aug 2021, 23:00 to 07 Aug, 23:00 UTC, Zerogoki launched a deposit voting event on BitWell. After 1000 participants voted, REI was qualified to be listed for trading on BitWell. The first 500 people participating in the deposit event also shared 2000 USDT worth of REI.
Zerogoki, a transliteration of “Zero number Machine” in Japanese, stands for the experimental model Unit-00, being a metaphor of the prototype. As a trading platform for derivatives deployed on Ethereum and based on an algorithmic anchor mechanism to create leverage tokens, Zerogoki can provide users with leverage tools for traditional assets such as foreign exchange, gold, and US Treasuries. Users can use the platform token REI to cast leverage tokens or use the protocol’s synthetic dollar anchor asset-zUSD to buy leverage assets directly.
Zerogoki is an innovative pilot version from Duet Protocol. It aims to offer a playground for various assets and experimental mechanisms to withstand the test in a real trading environment. Going forward, Zerogoki will also provide novel financial derivatives, offering users more vehicles to mint or trade as well as more earning strategies for other participants.
Official Website: zerogoki.org
What is REI?
REI, phonetically from the Japanese word ‘zero’ (れい)”, is the platform verification as well as the core asset of Zerogoki, which fuels synthetic leveraged assets. For every $1 of synthetic assets minted, $1 of REI will be burned. Synthetic assets and REI are two-way interoperable, and the same redemption of REI of $1 needs to burn synthetic assets worth $1. In the long run, as the supply of synthetic assets grows, the total amount of REI will deflate and the actual total amount will gradually decrease. The initial circulation of REI is 42,000,000.
BitWell is an international digital asset derivative trading platform, with team members from 10+ countries and regions including Europe, America, and the Asia Pacific, and core cadres from Morgan Stanley, IBM, Paypal, Binance, Tencent, Baidu, Sina, and other global famous financial and technology companies.
After 1 year of development, BitWell now has several product lines such as options, perpetual contracts, spot, and savings flexible finance, etc. BitWell is the first options platform in the world to launch DeFi options and has the most varieties of options. It is also the platform with the most comprehensive options product lines, with bull/bear contracts, simple options, and options chain(T-quotes) to meet the needs of users at all levels. It’s also the first to launch an IMM market-making incentive mechanism in the industry and a MakerPal product.
BitWell is committed to becoming an economically stimulating open financial ecology builder, creating safe, efficient, standardized, and perfect blockchain financial products, enabling investors globally to exercise the right of use, benefit and exchange better, balancing risk and return.
To follow Zerogoki, check out their Social media handles:
Telegram – https://t.me/zerogokigroup
Twitter – https://twitter.com/0Zerogoki
Medium – https://zerogoki.medium.com/
Discord – https://discord.com/invite/2PbeBAW9FD
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Ahmedabad Local journalist was involved in the writing and production of this article.