Decentralization Perptual Futures exchange: Innovation and Opportunities

The Decentralization Perptual Futures exchange (Perp DEX) is a vibrant and innovative track in the blockchain field. Although the market is currently dominated by a few well-known projects, several emerging platforms that have not yet issued tokens have recently surfaced, demonstrating strong competitiveness. Most of these projects implement cold starts through point systems, providing potential investment opportunities for early participants.

Aark Digital

Aark Digital is a Perp DEX based on Arbitrum, which completed a seed round financing in July this year with participation from several well-known investment institutions.

Main features:

• Adopting a virtual liquidity pool model
• Parallel Market Maker (PMM) architecture, aggregating CEX and DEX liquidity
• Supports a full-margin cross-margin model with multiple collateral types
• Efficient settlement process to solve on-chain delays and Gas issues

Aark Digital incentivizes users to participate through a liquidity soft lock program and mining activities, allocating a total of 100 million AARK tokens.

Drift

Drift is a decentralized exchange platform based on Solana, offering a full range of trading services.

Features include:

• Built a complete line of spot, leveraged, and Perptual Futures trading products.
• Diversified liquidity mechanisms
• Use Dutch auction for trading
• Insurance fund established
• Supports multiple collateral types as margin, automatically earning deposit returns.
• Liquidity providers can use leverage

Drift currently attracts users through a weekly lottery event called Drift Draw, but it has not yet specified whether it offers native token incentives.

Zeta

Zeta is a derivatives protocol on Solana that focuses on Perptual Futures trading services.

Features:

• Fully on-chain limit order book
• Simple product design

Zeta uses a Z-Score points system to incentivize users, with points linked to future token distribution. The second season of the Z-Score event is currently underway.

MYX

MYX is an innovative Perptual Futures protocol that recently completed a $5 million funding.

Innovation points:

• A unique matching pool mechanism that theoretically allows for unlimited open interest.
• Achieve advantages such as zero slippage and no borrowing fees while maintaining high trading volume.

MYX is currently conducting the second phase of testing, and users participating in the test can receive rewards.

Hyperliquid

Hyperliquid is a decentralized Perptual Futures exchange running on an independent Layer 1.

Features:

• Supports trading of various long-tail assets
• Provides a variety of market-making strategies Vault

Hyperliquid has a points system that distributes 1 million points to users every week for 6 months.

Jupiter

Jupiter's JLP is a GLP product similar to GMX on Solana, providing Perptual Futures trading services through a bundle of assets.

Although the innovation is not high, it is very popular in the Solana ecosystem, possibly related to Jupiter's high valuation and the potential token airdrop.

Summary

The Perpetual Futures DEX track shows diversity and innovative potential, with new projects attracting users through different incentive measures, which could change the existing market landscape. For users, early participation may bring more opportunities. However, it is important to note that safety incidents are frequent in this field, and even leading projects have suffered attacks; the risks of new projects may be higher, so caution is advised when investing.