Covo V1

Protocol information

Covo V1 is a decentralized trading platform that offers spot and perpetual trading with low swap fees and zero market impact. The platform offers a maximum leverage of 50x on major cryptos and is backed by a singular multi-asset pool that generates income for liquidity providers through fees garnered from market making, swap transactions, leveraged trading (including spreads, funding fees, and liquidations), and rebalancing of assets

Category:Derivatives

Forked from:GMX V1

Token Information

Polygon address:0x681D3e...97d51FView on PolygonScan

Methodology

Fees: Fees from open/close position, swap, mint and burn (based on tokens balance in the pool) and borrow fee ((assets borrowed)/(total assets in pool)*0.01%)

Revenue: Revenue is 30% of all collected fees, which goes to COVO stakers