Spin

What Is Spin ($SPIN)?

Spin is a 360° decentralized trading and investments platform built on NEAR Protocol. Founded in June 2021, Spin was the first dApp to offer an on-chain order book solution on NEAR Protocol. In April 2022, Spin pioneered with the first order book DEX and in September 2022 launched the first on-chain Perpetuals on NEAR Protocol. In January 2023, the company released its NEAR-first DeFi Option Vaults which gave users exposure to Covered Call and Cash-Secured Put strategies.

The advantages of the order book model include better user experience compared to AMM flexible liquidity easy access for institutional traders secure and transparent on-chain verification the opportunity to price different types of instruments trading robots’ interoperability.

Spin aims to offer DeFi users a CEX-competitive user experience with no compromise on user experience, security, speed, transparency, and trading costs.

As of January 2023, Spin is ranked as one of the top 10 largest dApps on NEAR Protocol both by transaction volume and by the number of users.

$SPIN Token

According to the Spin roadmap, the $SPIN token is to be launched in H1 2023. It will become an incentive (staking,market-making, trading), yield-boosting, and governance instrument that will form the economic backbone of the Spin ecosystem of products.

In February 2022, Spin announced raising $3.75 million in a seed round led by Lemniscap with the participation of Spartan Group, GSR, Longhash Ventures, Angel DAO, and ZMT Capital.