What is Spin?

Spin is an institutional-grade decentralized trading and investment platform.

Its first implementation is built on the NEAR Protocol – a scalable, fast, and cheap L1 chain – where Spin is the first and the leading order book DEX. After becoming the Tier-1 product in the NEAR ecosystem, Spin strategically decided to expand to Polygon zkEVM and build an institutional-grade trading platform in the new ecosystem.

During the first year of its development on NEAR Protocol, Spin has released 3 on-chain products for retail users: Spot trading, and Spin Strategies aka DeFi Option Vaults – the first product in the series of Automated Investment Products to be released on Spin. Further development of Spin includes both the release of new derivative products and the expansion of the number of supported blockchains.

The SPIN token is a utility and governance token of Spin. It is an investment (staking), incentive (market-making, trading), yield-boosting, and governance instrument that forms the economic backbone of the Spin ecosystem of products.

• Investors stake SPIN to receive 50% of the platform’s fees as a reward. This model also includes game theory mechanics.
• Traders receive SPIN token incentives as a reward for trading actively on Spin.
• Market makers also receive SPIN token incentives based on the amount of liquidity provided, spreads, and their uptime.
• Vault investors are able to get additional rewards in SPIN tokens apart from the returns extracted from investing in Vaults.