Last Updated on June 25, 2023 by Bitfinsider
Blur, in contrast to other marketplaces, was created with professional traders in mind. Numerous trader-friendly features, including speed, minimal costs, collection sweeps, NFT statistics, and more, are included. The platform, which functions as a decentralized market, also contains a governance token called BLUR that grants users voting rights. Users may also use Blur’s aggregators and NFT lending protocol in addition to the Blur marketplace.
Additionally, Blur offers a platform that aggregates NFTs from many marketplaces into its own interface. Blur’s aggregator includes several noteworthy features that many traders use and has a distinct target audience.
Blur’s Unique Selling Point
The majority of the volume on Blur is ascribed to whales using the site, in contrast to other NFT marketplaces that are targeted for retail traders. The special characteristics of this ecosystem that set it apart from other platforms are described as follows:
- Marketplace Fees
Currently, Blur operates a marketplace with no transaction fees, allowing NFT traders to trade NFTs on their platform for free. Blur promotes a 0.5% market-wide royalty fee on their NFTs, but this is actually not required. Users are free to choose the preferred royalty rates of their choice. For professional traders who deal with high trading volumes, this proves to be cost-effective.
- Trader-friendly Features
Before completing a transaction, traders can benefit from a number of tools offered by Blur that can assist them make better selections. Collection sweeping, NFT analytics, flexible gas prices, and in-depth floor charts for each NFT collection are some of these capabilities.
Speed can occasionally mean the difference between a loss and a profit as users compete to complete their trades. Blur’s catchphrase is “Ditch slow. Blur’s motto is “Execute trades faster and make more money,” and this gives their users an advantage. Blur also claims to be the fastest NFT marketplace. According to Blur, which was created for expert traders, its increased speed enables users to snipe and complete trades more quickly than on any other marketplace.
- Incentives and Airdrops
Additionally, Blur has allocated a specific portion of the supply of its native tokens for incentives. For instance, users who choose to list their NFTs with royalties are rewarded with loyalty points that can be converted into BLUR.
With over 115 thousand qualified receivers, Blur held its widely anticipated multi-million dollar airdrop on February 14, 2023. Blur’s airdrops had significant social media attention because at least three wallets received more than 1.5 million tokens, and users had to Tweet about their airdrop in order to receive the money.
The airdrop included 610659 BLUR, which was sent to Keungz on Twitter. Each BLUR token was approximately worth $0.65 at the time of the tweet (15 February), which amounted to almost $397,000. Additionally, Blur is presently working on its Season 2 airdrop.
Blend, the peer-to-peer perpetual lending protocol
Blur unveiled Blend, their own peer-to-peer perpetual lending technology, in May 2023. Owners of NFTs are able to borrow ETH through the platform and use their NFTs as security. Blend will also provide down payment installments when buying NFTs, much like a mortgage.
Blend loans don’t have an expiration date or fixed interest rates, in contrast to conventional protocols, therefore positions can be held open as long as necessary. Blend does not also need an oracle, thus users can choose their interest rates. Blend accounts for 82% of NFT lending protocols’ total borrowing volume as of May 2023.
The NFT marketplace Blur’s native ERC-20 token is called BLUR. Holding the native token will provide users voting rights to implement measures or enhancements to the platform since Blur is a decentralized and community-run platform. Additionally, holders can authorize another party to vote on their behalf and get tokens on their behalf. The number of voting rights a person has depends on how many tokens they own or control.
The Blur Foundation claims that 3 billion BLUR have been produced and will be distributed over the following 4–5 years.
Blur’s community members will receive 51% of the total quantity of tokens; 12% were airdropped to users, and the remaining 39% will be given out to users through contributor grants, community projects, and incentive schemes.
The price of BLUR has dropped 21% over the past week in anticipation of the token unlock for Blur taking place on June 15th, 2023. 196M tokens, or roughly 40% of the total amount in circulation, will be made available. If you are interested in getting your hands on some of these Blur coins, why not start with ProEX? With their ongoing campaign, you can get all the support you need for your trading journey!
How to trade BLUR Futures on ProEX
Get ready to receive up to 60% rebate on handling fee. Trade well-known contract currencies on the ProEX platform and get up to 60% off BLUR!
To be able to trade on ProEX Futures, you need to create an account with ProEX. The process in itself is very easy, as the registration requires only an email address and password. However, you will be required to verify your email. Once your account is verified and ready to go, you can deposit funds into your account.
Once funds are deposited, you will have to transfer them into your ‘Contract Account’. After clicking on the ‘Balances’ option of the navigation menu, select your ‘Contract Account’. Once there, you will see the following:
You will also need to choose whether to trade on USDT (Tether USD). ProEX added the option to trade futures in either of the options above, but for the sake of this guide, we will use Tether USD (USDT) for simplicity.
After you have funds in your account, it’s time to start trading. This is what the ProEX interface looks like:
Utilizing Leveraged Trading on ProEX Futures
On some pairs, such as the BTC/USDT for this case, ProEX allows users to conduct trades with a leverage of up to 125x.
York leverage is fairly easy to set. The leverage button is located on the right side, next to the ‘Order Book’; by clicking it, you can access the following movable bar and modify the precise leverage:
It’s crucial to remember that utilizing large leverage entails significant risks and should not be undertaken by novice traders. Going over 5x is not advised, and even doing so significantly raises the chance of capital loss. Never invest more than you can afford to lose, especially in the stock market.
How To Trade Contracts on ProEX Futures
Due to their friendly user interface and experience, trading Bitcoin futures on ProEX is straightforward. Traders have access to up to 125x leverage on this pair.
You can place the following types of orders on the platform:
- Limit Order
- Market Order
- Stop-Limit/Market Order
Short Or Long Position – Limit Order, Market Order & Stop Order
- Limit Orders: Limit orders are used when you want to buy at a specific price.
You must indicate the price at which you want to buy or sell in order to establish a limit order. Enter the entire quantity of Bitcoin you desire to purchase in the size field. The Buy/Long button will open your position as soon as you press it. We will teach you how to close it and monitor it down below.
- Market Orders: The most fundamental order form, are employed to purchase Bitcoin at a spot price.
The quantity of the order is all that is required. Again, take note that the needed margin is five times lower than the order’s actual value.
- Stop-Limit Orders: These are frequently employed as take-profit or stop-loss mechanisms.
The stop price determines when your stop-limit order will convert to a standard limit order (conversely – a market order if you use a stop-market order). When you want to buy is indicated on the price tab.
You must enter a stop price that, when reached, will cause the limit order to be executed at the chosen price if you want to use it as a stop-loss. To use it as a take-profit mechanism, it’s best to take advantage of the Stop-Market order.
Closing a Position
You will be able to check on the status of your position once it is open. You have two choices if you want to close your position. You may close at the best spot price immediately after the market closes or a limit close which enables you to designate the price at which the position should be closed.
If you use your contract account to trade any currency during the event period and meet ProEX’s event rules, ProEX will pay the bonus to your account after 14 working days.
The full amount of contract trading during the campaign period will be rewarded are as follows:
- Plan 1: 100,000u = 5% rebate on handling fee
- Plan 2: 600,000u = 15% rebate on handling fee
- Plan 3: 1,600,000u = 25% rebate on handling fee
- Plan 4: 6,600,000u = 35% rebate on handling fee
- Plan 5: 66,600,000u = 45% rebate on handling fee
- Plan 6: 99,900,000u = 55% rebate on handling fee
- Plan 7: 100,000,000u = 60% of the handling fee
06/20 00:00 – 07/19 23:59 （UTC+8）
- The system uses the accumulated amount during the event period as the statistics. 2.
- Participants must pass the real name verification during the campaign period to receive the bonus.
- ProEX uses the system to record the available balance of the user’s account, and will take a random snapshot every day and confirm it from time to time.
- The prize will be settled 14 working days after the end of the campaign and will be paid to the account of the winning user.
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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.