JOJO Exchange, a decentralized trading platform, has integrated Brevis’s zero-knowledge (ZK) technology into its funding rate calculations.
In a recent announcement, JOJO Exchange, a decentralized perpetual contract trading platform, said that it has integrated Brevis’s zero-knowledge (ZK) smart processor technology into its funding rates. All parties involved in the perpetual contract ecosystem stand to gain from this strategic initiative, which seeks to stabilize prices, promote market balance, and increase liquidity.
There are security and compliance problems with the potential resource-intensive and centralized nature of funding rate calculations. On the other hand, a decentralized, economical, and safe option is Brevis’s ZK-proof technology.
Smart contracts can access blockchain states, transactions, and events in a trustless manner, drastically reducing the computational costs and time needed to generate proofs, even with an increasing amount of data.
JOJO Exchange will calculate funding rates with pinpoint accuracy using Brevis’ SDK, providing ZK proofs based on on-chain perpetual trading and spot price oracle data.
We then use these proofs to modify funding rates for JOJO users and perform on-chain verification. While protecting user privacy, our system guarantees transparent and safe funding rate calculation and verification.
Brevis uses ZK technology, which significantly lowers computing costs. This innovation eliminates the requirement for third-party trust by letting smart contracts safely access blockchain states, transactions, and events over all time intervals.
Reduced time and money spent on proof generation is an added bonus, and it works with data sets of any size.
Joining Forces with Galaxy Exchange, JOJO Reveals 1000x Trading, Enhances Swapping and Bridging
JOJO Exchange created the Smart Contract Order (SCO) to establish a hybrid liquidity mode that utilizes multiple liquidity techniques. For the time being, JOJO runs an order book that uses SCO to integrate off-chain matching with on-chain settlement.
This approach reduces the potential for centralized data manipulation while ensuring efficient and rapid transaction execution. In addition to its minimal fees, JOJO supports cross-margin trading, multi-collateral accounts, and subaccounts.
In an effort to enhance the bridging and swapping experiences for users, JOJO has recently formed a strategic partnership with Galaxy Exchange. On top of that, JOJO has included 1000x trading, which gives customers the ability to close their Take Profit (TP) and Stop Loss (SL) positions with a single click, whenever they choose. In the next few months, the team also plans to launch the flexible earn function.