The Rise of New Stars in Perpetual Futures Trading Platforms: Overview of Six Innovative Unissued Coin Projects

The decentralized Perpetual Futures trading platform ( Perp DEX ) is an important track in the blockchain field. Although established projects like dYdX, GMX, and Synthetix occupy a major market share, a number of emerging platforms with great potential have recently surfaced, such as Aark Digital, Drift, Zeta, MYX, Hyperliquid, and Jupiter. Most of these projects implement a points system to achieve a cold start, providing potential investment opportunities for early users.

Aark Digital: A New Star on Arbitrum for a Smooth Experience

Aark Digital is a Perptual Futures trading platform based on Arbitrum, featuring:

• Virtual Liquidity Pool Model
• Parallel Market Maker ( PMM ) architecture, integrating the liquidity of centralized and decentralized exchanges.
• Full margin cross-margin model supports multiple assets as collateral.
• Efficient settlement process without the need to wait for wallet signatures.

To attract users, Aark Digital has launched a liquidity soft lock plan and trading mining activities, with a total reward of 400,000 AARK tokens.

Drift: Comprehensive Trading Platform on Solana

Drift is a fully-featured Solana trading platform that offers services such as spot, leverage, and Perptual Futures trading. Its main features include:

• Diversified liquidity mechanism
• Dutch Auction Trading Model
• Insurance Fund System
• Supports multiple collateral types and automatically earns deposit returns
• Leverage Liquidity Provision

Drift currently incentivizes users to participate through the weekly lottery event Drift Draw.

Zeta: A Simple and Efficient Solana Perptual Futures Platform

Zeta focuses on providing simple and direct Perptual Futures trading services, using a fully on-chain limit order book model. The platform incentivizes user participation through the Z-Score points system, and points can be used for future coin distribution.

MYX: A Perpetual Futures Protocol with an Innovative Matching Pool Mechanism

MYX adopts a unique matching pool mechanism that effectively addresses the liquidity constraints of traditional Perptual Futures platforms. Its innovations include:

• Theoretically, an unlimited open interest can be achieved when the long and short positions are balanced.
• May bring higher trading volume under the same liquidity
• Achieve advantages such as zero slippage and no borrowing fees.

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

Hyperliquid: A Decentralized Exchange Built on Layer 1

Hyperliquid operates on its own Layer 1 chain, providing functionalities similar to a centralized exchange:

• Supports trading of various long-tail assets
• Provide a Vault with various market-making strategies
• Use a points system to incentivize user participation

Jupiter: Popular Perptual Futures Product on Solana

Jupiter's JLP product is quite popular in the Solana ecosystem. Although it is not very innovative, its popularity is remarkable:

• JLP capacity often reaches its limit
• The premium in the secondary market is significant
• The utilization rate of major trading pairs remains high throughout the year.

The success of Jupiter may be related to its high valuation and large-scale airdrop plan.

Conclusion

The development of the Perptual Futures trading platform is still ongoing, with emerging projects showcasing diversified innovative ideas. Early participation in these projects may yield potential returns, but users should also be wary of possible security risks. Even industry-leading projects have faced attacks, and the risks for new projects may be higher. Investors should carefully assess and allocate their funds wisely.