How much do you know about Paradex on Kaito's Pre-TGE community leaderboard? Let's take a look

Paradex

is a decentralized DEX exchange focused on perpetual futures running on the L2 network.

The platform aims to provide a simple operating interface (UX/UE)

including: low trading fees and high depth liquidity pools.

Paradex's main feature is its clean and simple operating interface for users, making it easy for everyone to trade.

Background:

The platform raised $35 million through Series A funding in 2021.

Features:

• No liquidity issues, trades are fast and seamless.

• Low trading fees, eliminating unnecessary costs for users.

• Ultra-fast L2 infrastructure for instant trading.

• Self-custody feature, meaning your assets are completely under your control.

• On-chain risk engine, ensuring transparency and security.

Trading Model:

Paradex currently adopts a full-margin model, supporting only USDC as collateral, but will support more assets in the future.

• Maker (order creator) provides liquidity, fee -0.005% (negative fee rate, reverse reward)

• Taker (order consumer) consumes liquidity, fee 0.03%

Account System and Wallet:

Paradex has a built-in Starknet wallet, but users can trade directly using Ethereum wallets like MetaMask without needing to manage a Starknet account separately.

Economic Model:

(To be announced)

Vision:

So, what is Paradex's goal?

After the collapse of centralized exchanges like FTX, users want to have complete custody of their crypto assets. Paradex meets this need. It provides more accurate and efficient risk management solutions for institutional investors. It addresses common liquidity and trading volume issues faced by DeFi exchanges. Currently focused on perpetual trading, Paradex has announced plans to add new assets in the future. It aims to establish a community-driven structure, meaning their plans become more decentralized over time.

Summary: Paradex is an efficient, secure, and transparent derivatives exchange that combines Starknet's L2 technology to provide users with a high-quality trading experience.

Interaction Strategies:

• Trade: The most basic buying and selling

• Vaults: Deposit funds to earn corresponding returns