Layer3

Posted on Dec 04, 2022Read on Mirror.xyz

Layer3 has partnered with Bracket Labs

Re-imagining DeFi leverage products

Layer3 is excited to announce our newest partnership with Bracket Labs.

Bracket protocol, created by Bracket Labs, is a new decentralized on-chain leverage protocol aimed at making derivative products easy to use in Web3. Its first application, BracketX, creates LONG and SHORT strategies with similar payoffs to Bear Put and Bull Call option spread strategies but with fixed durations (e.g. 4 hour, 8 hour, 24 hour), fixed premiums, and fixed potential 10x payoffs.

Our first Quest with BracketX helps you learn about the protocol in more detail, and buy your first Bracket!

Ready to go? Try the Quest out here:

  1. Take the Quiz on BracketX

  2. Buy a Bracket

Why Bracket?

Founded in 2022, Bracket Labs began building Bracket Protocol in order to solve some of the inherent challenges of using on-chain derivative products vs centralized, off-chain alternatives. You no longer have to be a pro to build your own strategies with 10x payoff potential.

Bracket helps alleviate challenges including having to deal with slow or intermittent connectivity to L1 blockchains with on-chain pricing, managing capital efficiency, being able to fully collateralize, the potential for 3rd party price manipulation, and difficulty of use. By modifying and fixing several of these elements, Bracket protocol created an optimized solution that can be easy to use for those new to #DeFi or derivatives.

The Bracket Labs team is comprised of fintech and crypto veterans who have held senior positions at D.E. Shaw, Merrill Lynch, Bloomberg, Barclays, Consensys, DeerCreek and others.

We’re excited to continue working with Bracket to expose you to the most innovative products being launched in #DeFi!

Learn More

For more about Layer3 Quests, take a look at our blog post

For more about Bracket Labs, follow them on Twitter and join their Discord

For more Layer3 Quest, follow Layer3 on Twitter and join our Discord