# What is YFX V4？

Building on the current Perpetual Protocol market, YFX V4 offers the most comprehensive solution with lowest cost, providing traders and makers with the most convenient, capital-efficient, and profitable trading platform. Both traders and makers can use a leverage up to 200x for in YFX V4, significantly increasing the capital efficiency within the system. Also the Premium Index and Market Price are introduced to balance long and short positions. In the new earning system and referral system, users can earn YFX tokens with lowest cost and enjoy commissions with up to 75% rebate rate.

## Features:  

### [Leading protocol ](https://docs.yfx.com/yfx-v4/trading/trading-mechanism)

YFX first launched the PvPool trading mechanism in 2021, allowing traders and liquidity pools to trade directly, and it has been widely adopted by today's mainstream Perpetual protocols.   

### [Single Asset Pool ](https://docs.yfx.com/yfx-v4/ylp)

Liquidity providers can add or remove liquidity for linear (USD-Based) and inverse (Coin-Based) contracts to or from single-asset pools with no impermanent loss. 

### [Maximized Capital Efficiency](https://docs.yfx.com/yfx-v4/lp-leverage)      

YFX V4 introduces Leveraged Liquidity Pool (LLP) , enabling liquidity providers to provided liquidity with up to 100x Leverage and maximize the capital efficiency.     

### [LPB-AMM](#lpb-amm)

In YFX V4, a new LP Balance Automated Market Maker (LPB-AMM) mechanism is introduced, where the depth of users' trades is determined by the LP's Balance. The greater the LP Balance, the better the trading depth for users; conversely, the lesser the LP Balance, the poorer the trading depth.

### [Diverse Earning System](https://docs.yfx.com/yfx-v4/earning) 

YFX V4 introduces a brand-new earning system, where users can earn YFX tokens and enjoy high rewards through actions such as trading, holding positions, adding liquidity, and referral. 

### [MPC Wallet](#mpc-wallet)

YFX V4 supports **MPC (Multi-Party Computation)** wallets, enablaing users to log into their wallet systems using **Email, Google, Twitter, Facebook, Discord,** and other accounts, significantly lowering the barrier for users to utilize DeFi products.