Qilin Protocol is a decentralized derivative protocol that enables coin-margined perpetual trading. Traders and LPs are able to use any token for trading and yield without having to swap to stablecoin for perpetual contracts. The protocol uses a peer-to-pool liquidity model that prioritizes LP risk mitigation through dynamic slippage and rebase funding rate. Its V1 mainnet rolled out in April 2021 and its V2 goes live in November 2021.
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