What is 🌟BZRX🌟?
BZRX is bZx's governance token that allows its holders to vote as well as to stake their tokens to earn a share of the protocol fees.
actually the bZx Protocol is a Ethereum-based DeFi lending protocol which users can borrow, lend, and margin trade without relying on third parties. In the past, margin traders had to use centralized exchanges (CEXs). And while decentralized exchanges (DEXs) can have vulnerabilities, CEXs have many weak points that can be exploited
❇️The History of bZx:
Tom Bean and Kyle Kistner are the co-founders of bZx. They came up with the idea in 2017 and released the white paper in February 2018. By December of the same year, they had raised close to $8 million in an ICO. In June 2019, they launched Fulcrum, the trading front end. And in October 2019, they launched Torque, the lending front end.
❇️Why Use bZx?
Like other DeFi platforms built on Ethereum, bZx’s smart contracts automate the financial process. Now, bZx is similar to dYdX. However, the team’s goal is to make sure that “everything is tokenized.”
The biggest difference between bZx and others in their field is the three tokens it uses: iTokens, pTokens, and the BZRX token. Each of these tokens plays a vital role in how bZx operates.
bZx also distinguishes itself in how it incentivizes yield farming by awarding active users with half of the fees payable through their BZRX token.
❇️The bZx Hacks:
Now for the bad news. bZx has received a lot of attention this past year but not always for the best reasons. Hacks have plagued the fledgling protocol not once, not twice, but three times to the tune of an estimated $1 million in damages. It’s usually nice to be the first, but not in this case. bZx holds the honor of being the first DeFi platform of substance to get hit with a large attack. It also holds the distinguished honor of being the second DeFi platform to be attacked. Two back-to-back hacks brought the project to its knees and forced the team to retreat to the sidelines to reconfigure the protocol whilst everyone else was profiting handsomely during this year’s peak of the DeFi boom.
❇️The Future for bZX:
Thankfully none of the customers lost their funds during the attack. And while three hacks might have crippled the spirits of an ordinary founder, Kistner remains optimistic about bZx’s future. Three hacks is a lot to take and this crazy year of 2020 isn’t over yet, so fingers crossed.
Kyle Kistner, bZx co-founder
However, with the rapid growth of DeFi, we can assume that some of the startups launched with buggy code in their zeal to ship. Hopefully, bZx’s problems are behind them, and fortunately for them, their trading volume is still growing.
After all, their zeal for decentralization is commendable. And with all the complex systems that developers can build on top of each other in DeFi, bZx has a lot to offer.
By combining such things as TokenSets with bZx’s iTokens, creators can build completely new products. Other dApps like DeFiZap have created products that use bZx’s pTokens to leverage new trading strategies. And we must all remember that DeFi is still in its infancy so there are much bigger things on the horizon.
👉and finally,is BZRX a good investment?
If you are looking for virtual currencies with good return in shortterm, BZRX can be a bad, high-risk 1-year investment option. bZx Protocol price equal to 0.469 USD at 2021-03-03, but your current investment may be devalued in the future
sources: academy.ivanontech and google search
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✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart , The current price roam about 0.46$,
Although from the declining and weak volume we see, we realize that in fact the DEFI season has not started yet, but we are already technically examining it because we know that if it starts, it will be very stormy. From the point of view of Elliott Waves, we can see an uptrend for the next month or two or sooner, and imagine price targets of $ 0.8, then $ 1.5, and finally $ 5.
Anyway, my constant suggestion to anyone is to buy step by step , With proper capital and risk management and keep the stop-loss because everything in the market is based on probabilities and there is no certainty.
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
BZRX is bZx's governance token that allows its holders to vote as well as to stake their tokens to earn a share of the protocol fees.
actually the bZx Protocol is a Ethereum-based DeFi lending protocol which users can borrow, lend, and margin trade without relying on third parties. In the past, margin traders had to use centralized exchanges (CEXs). And while decentralized exchanges (DEXs) can have vulnerabilities, CEXs have many weak points that can be exploited
❇️The History of bZx:
Tom Bean and Kyle Kistner are the co-founders of bZx. They came up with the idea in 2017 and released the white paper in February 2018. By December of the same year, they had raised close to $8 million in an ICO. In June 2019, they launched Fulcrum, the trading front end. And in October 2019, they launched Torque, the lending front end.
❇️Why Use bZx?
Like other DeFi platforms built on Ethereum, bZx’s smart contracts automate the financial process. Now, bZx is similar to dYdX. However, the team’s goal is to make sure that “everything is tokenized.”
The biggest difference between bZx and others in their field is the three tokens it uses: iTokens, pTokens, and the BZRX token. Each of these tokens plays a vital role in how bZx operates.
bZx also distinguishes itself in how it incentivizes yield farming by awarding active users with half of the fees payable through their BZRX token.
❇️The bZx Hacks:
Now for the bad news. bZx has received a lot of attention this past year but not always for the best reasons. Hacks have plagued the fledgling protocol not once, not twice, but three times to the tune of an estimated $1 million in damages. It’s usually nice to be the first, but not in this case. bZx holds the honor of being the first DeFi platform of substance to get hit with a large attack. It also holds the distinguished honor of being the second DeFi platform to be attacked. Two back-to-back hacks brought the project to its knees and forced the team to retreat to the sidelines to reconfigure the protocol whilst everyone else was profiting handsomely during this year’s peak of the DeFi boom.
❇️The Future for bZX:
Thankfully none of the customers lost their funds during the attack. And while three hacks might have crippled the spirits of an ordinary founder, Kistner remains optimistic about bZx’s future. Three hacks is a lot to take and this crazy year of 2020 isn’t over yet, so fingers crossed.
Kyle Kistner, bZx co-founder
However, with the rapid growth of DeFi, we can assume that some of the startups launched with buggy code in their zeal to ship. Hopefully, bZx’s problems are behind them, and fortunately for them, their trading volume is still growing.
After all, their zeal for decentralization is commendable. And with all the complex systems that developers can build on top of each other in DeFi, bZx has a lot to offer.
By combining such things as TokenSets with bZx’s iTokens, creators can build completely new products. Other dApps like DeFiZap have created products that use bZx’s pTokens to leverage new trading strategies. And we must all remember that DeFi is still in its infancy so there are much bigger things on the horizon.
👉and finally,is BZRX a good investment?
If you are looking for virtual currencies with good return in shortterm, BZRX can be a bad, high-risk 1-year investment option. bZx Protocol price equal to 0.469 USD at 2021-03-03, but your current investment may be devalued in the future
sources: academy.ivanontech and google search
--------------------------------------------------------------------------------------------------------------------
✅TECHNICAL ANALYSIS
As we can see in the weekly timeframe logarithmic chart , The current price roam about 0.46$,
Although from the declining and weak volume we see, we realize that in fact the DEFI season has not started yet, but we are already technically examining it because we know that if it starts, it will be very stormy. From the point of view of Elliott Waves, we can see an uptrend for the next month or two or sooner, and imagine price targets of $ 0.8, then $ 1.5, and finally $ 5.
Anyway, my constant suggestion to anyone is to buy step by step , With proper capital and risk management and keep the stop-loss because everything in the market is based on probabilities and there is no certainty.
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
