Perpetual Exchange

  • decentralised perpetual exchange enabled perpetual futures trading on chain

  • perpetual futures contracts

    • allow traders to have more leverage and does not immediately exchange the underlying assets, as long as the margin deposit is sufficient, the positions can be held perpetually

    • it's the contract between long and short counter-parties

    • When the contract price is higher than the spot price, users with short positions are paid the funding rate, which is reimbursed by users with long positions, realign contract & spot price

Advantage vs. traditional financial process

  • Flexible - trade underlying asset without a pre-specified delivery date, minimise sell/buy process

  • Transparent - all long & short positions are visible on chain, minimise chance of price manipulation

  • Decentralised - minimise centralised entities that charge multiple phases of service fees, sharing protocol revenue directly with token holders

  • Trustless & Permissionless - everyone can trade on the exchange with whatever amount of funds

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