New projects emerge in the cryptocurrency market every day. Some of these projects offer innovative and creative ideas to solve existing problems, create new opportunities and meet the needs of users. LeverFi Coin is one of them. LeverFi Coin is the governance token of an innovative DeFi project that combines leveraged trading and yield farming. So, what is LeverFi Coin, how does it work and what is its future? In this article, you can find answers to these questions.
What is LeverFi Coin?
LeverFi Coin, also known as LEVER, is the governance token of the LeverFi platform. LeverFi is a leverage trading protocol running on the Ethereum blockchain. Users can buy and sell BTC, ETH and other assets with up to 10x leverage. At the same time, they can earn additional income by yield farming with the assets they deposit as collateral. LeverFi uses smart contracts to make the trading experience smooth and uninterrupted.
The function of LeverFi Coin is to give decision-making and guidance authority to the owners of the LeverFi platform. LEVER owners can make suggestions and vote on the development, updates, fees, pools and other parameters of the platform. Additionally, LEVER owners can also share part of the platform's revenues.
The Fibonacci indicator below appears to be working on the chart. Currently, the bands have narrowed and will start an upward or downward trend. In my opinion, the price will be upward in the short term. Support and resistances are available on the chart.
