Innovation and Opportunities of Decentralization Perpetual Futures Trading platform

Decentralization Perptual Futures trading platform ( Perp DEX ) is currently one of the most promising tracks in the blockchain field. Although the market is mainly dominated by projects such as dYdX, GMX, and Synthetix, a number of innovative emerging platforms have recently emerged, such as Aark Digital, Drift, Zeta, MYX, Hyperliquid, and Jupiter. Most of these platforms adopt a points system to achieve a cold start, providing potential opportunities for early participants.

Aark Digital

Aark Digital is a Perptual Futures DEX based on Arbitrum, its main features include:

• Adopting a virtual liquidity pool model
• Parallel Market Maker ( PMM ) architecture, aggregating CEX and DEX liquidity.
• Supports full margin cross-margining model with multiple collateral types
• Provide leveraged liquidity
• Efficient settlement process

Aark Digital incentivizes users to participate through a liquidity soft-lock program and mining activities.

Drift

Drift is a multifunctional trading platform based on Solana, providing services such as spot, leverage, and Perptual Futures trading. Its features include:

• Multiple liquidity mechanisms
• Dutch Auction Trading Model
• Insurance Fund Mechanism
• Supports multiple collateral types as margin
• Leverage Liquidity Provision

Drift is currently attracting users through a lottery event, but has not clearly provided native token incentives.

Zeta

Zeta is a derivatives protocol on Solana that provides Perptual Futures trading services. It uses a fully on-chain limit order book model, similar to dYdX. Zeta incentivizes users to participate in trading through the Z-Score points system.

MYX

MYX innovatively addresses the liquidity occupation issue of platforms like GMX. It adopts a unique matching pool mechanism, which theoretically can achieve an unlimited open interest. MYX is currently undergoing the second phase of testing, and users participating in the testing can receive rewards.

Hyperliquid

Hyperliquid is a decentralized Perptual Futures exchange operating on its own Layer 1. It supports trading of various long-tail assets and offers diversified market-making strategies. Hyperliquid has launched a points system, distributing points to users on a weekly basis.

Jupiter

Jupiter's JLP product is exceptionally popular in the Solana ecosystem, often reaching capacity limits. Its popularity may be related to Jupiter's high valuation and expectations of potential token airdrops.

Summary

The Perp DEX track shows diversity and innovation, and with different incentive measures, new platforms may emerge to challenge the status of existing leading projects. For users, early participation may bring more opportunities. However, it is important to note that this track also has security risks; even leading projects have been attacked, and new projects may carry higher risks. Investors should carefully assess risks when participating.