Wasabi

The primary goal of Wasabi is to provide a decentralized platform for leverage trading of memecoins and NFTs, facilitating efficient price discovery and enabling users to manage their positions with minimized counterparty risk.

Users can participate in Wasabi's ecosystem by trading memecoins and NFTs with leverage on the platform. To get started, users need to connect their wallets to the Wasabi platform and follow the on-screen instructions to open long or short positions.

Wasabi differentiates itself by focusing on leverage trading for memecoins and NFTs, asset classes that are often underserved. The protocol's design ensures that all positions are backed by actual assets, reducing counterparty risk. Additionally, features like 'Looping Markets' allow users to amplify both yield and price exposure.

Wasabi implements various security measures, including audits and partnerships, to ensure the platform's safety. However, specific details about these measures are not provided in the available sources.

As with any DeFi platform, users should be aware of potential risks such as market volatility, smart contract vulnerabilities, and liquidity risks. Wasabi aims to mitigate some of these risks by ensuring positions are backed by actual assets, but users should conduct their own research and exercise caution.