The decentralized finance (DeFi) sector is rapidly growing but still faces significant challenges. For example, one of the biggest issues DeFi must address is Impermanent Loss (IL). This is a problem that can have serious consequences for liquidity providers. Today's review will examine how SMARDEX intends to solve the IL problem and end liquidity providers' unjust losses. We'll also look at all the services that SMARDEX offers and examine the project's tokenomics. What Is SMARDEX? SMARDEX is a project intending…
Borussia Dortmund Football Club Partners with Crypto Platform Bybit
German professional football club Borussia Dortmund (BVB) has announced a multi-year partnership with the Crypto trading platform Bybit. The partnership was revealed today on Twitter and is expected to open doors of opportunities for the German football club to innovate using blockchain technology.
Bybit is one of the top crypto derivatives exchanges in Asia and supports trading BTC, ETH, EOS, and XRP perpetual contracts. The crypto exchange is also known for its huge liquidity and fast transaction speeds. The partnership with Borussia Dortmund is expected to expose the crypto exchange to a diverse customer base.
Borussia Dortmund is one of the most successful football clubs in Germany, winning eight domestic league titles. Apart from this, the club is regarded as the seventh-largest club worldwide in terms of the fanbase. Bybit will leverage this partnership as it looks to attract new customers to its trading platform.
Co-founder and CEO of Bybit Ben Zhou expressed his delight in the partnership and admitted that Borussia Dortmund fits the crypto company’s core traits. He further stressed that Borussia Dortmund is one of the football clubs known worldwide for its passion and radiance.
”The intensity and the passion of BVB go beyond the football field. Through this partnership, we want to demonstrate that we are here for the long run. With a rich history and many success stories, BVB is our ideal partner”.
Borussia Dortmund, chief of Carsten Cramer, also echoed similar sentiments and expressed his belief that the partnership was a step towards digitization. He also stated that the partnership with Bybit would increase the football club’s reach and influence in Asia. ”Together, we will penetrate even deeper into Asian markets and will further strengthen our brand internationally.” He said.
Football and Blockchain Technology
Several football clubs have begun to venture into the crypto space in recent months. Football clubs typically offer fan token offerings or tokenized digital collectibles. Non-fungible tokens have also become popularly used by football clubs as gaming perks for fans. Earlier in January, Socios revealed the launch of a fan token for popular French football club PSG.
It is not known what form the partnership between Bybit and Borussia Dortmund will take. Nevertheless, this is a good development for the blockchain space.