Brightpool Finance, a New DeFi Platform, Soon to Launch Public Testnet

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Brightpool proposes a cutting-edge transaction type based on the new Bid-To-Earn model.
It is the first DeFi platform to pay traders an order reward instead of a commission, and will launch its public testnet this fall.

The platform will be tested in two phases. First, selected Brightpool users will be able to create a test wallet on Polygon’s Mumbai network to try out the exchange’s basic functionality. This phase will be accompanied by a bug bounty program. In the second phase – after completing the audit – we will deploy the testnet on the Polygon mainnet. At this stage, we will launch the most professional airdrop in the field, rewarding the best traders with prizes worth thousands of dollars.

The purpose of the testnet is to demonstrate the exchange’s advanced price engine algorithm (based on the BSM model) and give early adopters a chance to familiarize themselves with a new way of trading that rewards traders instantly (issued in native BRI tokens) every time they place a token Orders (#bid2earn), whether or not the order is executed.

Order types on Brightpool are future orders with expiry dates of 1, 3, 5, 7, 14 and 28 days. Reward incentives are calculated by the price engine for each instance. Selling 1 BTC on the platform will generate a reward equivalent to roughly $1000, depending on several factors. The order pricing algorithm is based on a cryptographically adjusted version of the Black-Scholes-Merton model, which won the Nobel Prize in 1997 for its advances in derivatives valuation. Brightpool Finance’s native token BRI is implemented using the LayerZero protocol, giving it stronger cross-chain capabilities.

Brightpool’s Pool Master Lucas Kobus said the platform will “become an absolute game-changer in the DeFi ecosystem” and “will inspire new types of projects with innovative ways of putting tokens on the market. With DeFi Unlike most projects in , our native token, BRI, will have a strong fundamental value,” Kobus said. “I believe Brightpool will kick off a true DeFi 2.0 platform trend with their own liquidity and fundamentally strong staking, with rewards in stablecoins and ETH for staking native tokens.”

CertiK is conducting a full formal verification audit of the platform. Brightpool has yet to announce an official date for its launchpad.Interested traders can follow Brightpool’s Twitter, telegraphand Discord account to stay informed of upcoming news.

About Mingchi

Brightpool Finance is the world’s first DeFi protocol that pays for users to place orders. Brightpool is built on Polygon’s PoS chain for speed and scalability, and its tokens are deployed on the LayerZero protocol, increasing interoperability between chains. Its BRI token is the first to use a new issuance mechanism called Proof of Bid (POB), which adds a strong fundamental value to BRI with a pricing algorithm based on crypto-adjusted Nobel Prize winners Black-Scholes – Merton Model (BSM). Thanks to its pool structure, revenue share, advanced price engine technology, and volatility hedging aspects of its tokens, Brightpool is able to offer traders multiple ROI.