> For the complete documentation index, see [llms.txt](https://blex-1.gitbook.io/untitled/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://blex-1.gitbook.io/untitled/white-paper/highlight.md).
# Highlight
1、The open governance of DAO and a more complete incentive model
2、Secure, fair, and Transparent Price-feed Mechanism
3、More Trading Pairs: Various portfolio transactions on crypto assets and real-world assets
4、Composable Product: LP Productization, Trading Plugins (De-Quant, Social Trading, etc.)
5、A package stablecoin system that avoids impermanent losses
6、Enhanced Decentralized Trading Experience: Refine the operation and interaction details of trading products constantly, and study how to realize high-frequency trading on chain
BLEX V1.0 provides a productized trading platform for all users, and has innovated new unique advantages:
### The broad index trading market
A perpetual exchange based on index price feeding can support almost all trading markets, whether digital assets, real-world assets, or any combination of assets (composite index).
In the future, BLEX will be committed to creating a diverse trading ecosystem to provide the most essential components for the entire DeFi ecosystem.
### Complete decentralization
Any operations in BLEX can be done without permission, and the protocols will take the community governance approach, where the community decides the rules and the directions of the protocols.
All contributing parties in the community ecosystem will ultimately capture the transaction fees generated.
### Multiple Order
In the highly active crypto market, traders need to stop loss and take profit orders, which can ensure investment risk or maximize returns without the need for constant market monitoring.
BLEX has supported the stop loss and take profit order function since V1.0, and of course, BLEX also supports market and limit orders.
### Lower network consumption
BLEX achieves single-stablecoin settlement through virtual contract trading, instead of a leverage model that includes position and multiple swap-based loan settlements, resulting in fewer network calculations and lower gas consumption.
### Zero slippage and eliminating impermanent loss to eliminate internal games
The revenue for LP comes from transaction fees. If the liquidity of the protocols is poor, slippage may occur due to insufficient trading depth. However, on the contrary, the fewer funds LP provides, the more benefit they can earn. Therefore, the existence of slippage essentially protects the interests of LP and is not beneficial to the interests of Traders.
Impermanent loss can be seen to some extent as a risk borne by liquidity providers because when they provide funds to the pool, they face the uncertainty of asset price fluctuations in the pool. However, traders can often get better market prices in their trades when the market fluctuates. Therefore, impermanent loss protects the interests of traders and is not beneficial to the interests of LP.
If we want to balance the interests between LP and Traders, either both slippage and impermanent loss exist, and each party bears the loss by itself, or make both situations negligible. However, it's apparent that if we want to achieve a growth cycle and even surpass the CeFi ecosystem, the former is not feasible because it will seriously affect the experience of both parties.
Therefore, we often see that many DeFi protocols protect the interests of liquidity providers by distributing impermanent loss to Traders, in order to increase the TVL of the protocol.
However, based on the Smart AutoBet Model, BLEX completely solves the problems of slippage and impermanent loss, and balances the interests of both parties while potentially providing a better experience for both parties.
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