This project fits into the category of if you don't understand it, don't use it.
The first concern with any Automated Market Maker (AMM) is always going to be front running. This is when insiders can see a big block of public orders and they have the ability to place trades in front of that order flow, thereby securing an easy profit. I searched their documentation and they do not address front running at all.
HUGE red flag.
My second big concern with this project is the concept of moving liquidity. I read through the whitepaper (very short) and they get into great detail about the mechanics of how bins work, but aren't clear on how traders actually profit or lose.
If I understand it correctly, traders are basically using a trailing stop loss to bet on the movements of the pair, a weighted combo, or each of the individual currencies in the pair. Most of the fees seem to be generated by moving bins, which is why they can pay a pretty high staking fee (see graphic).
This feels like a complicated version of binary options, it's SUPER sketchy.
On the positive side, they have seen quick growth and are backed by some big names like Binance Labs. So 1 extra star for that. Show Less
