Hi TrueFi Stakers
We are Ovex, a South African cryptocurrency exchange. We are requesting a loan of 3 million TUSD for 30 days and we are willing to pay 15% p/a.
Ovex specializes in OTC trading and arbitrage. We operate the largest OTC desk in South Africa, delivering prime brokerage services to institutions and high net-worth individuals across Africa amid rising demand for crypto access in the region.
On average we have a daily trading volume of $15 million. We are a strong supporter of TUSD, minting more than $22 million in the last 30 days (we often mint well over that amount in a given month).
We are happy to field questions on any of the social channels below:
Loan request and use of funds
The funds will be used for market making on the Ovex OTC desk. Trading strategies are risk-neutral, including pairs arbitrage between BTC/ZAR and USD/BTC (as the largest OTC desk in South Africa we have a unique advantage in this area), futures arbitrage and margin lending.