Derivative trading protocol ZKX, part of the Starknet ecosystem, is reshaping the DeFi trading experience. It has recently launched two new products: OG Trade and Pro Trade. OG Trade offers a gamified trading experience, while Pro Trade provides advanced trading functionalities. In the coming months, trading on both exchanges will have the opportunity to earn dual rewards in $ZKX and $STRK tokens.
ZKX is a decentralized perpetual contract exchange built on top of Starknet. The project was founded in 2021 by Eduard Jubany Tur, Naman Sehgal (COO), and Vitaly Yakovlev (CTO). The founders have diverse backgrounds in venture capital, emerging markets, and scale-up management.
ZKX has raised $5.5 million through two successful token sales. Its investors include well-known centralized exchanges Crypto.com and Gate.io, as well as exchange-related capital firms such as Hashkey Capital and HTX Ventures. It has also received support from numerous VCs such as Amber, StarkWare, Flowdesk, IMC, OrangeDAO, Red Building Capital (RBC), DWeb3 Capital, Caballeros Capital, Unicorn Hunter, Sharding Capital, and Serafund.
The vision of ZKX is to create a platform that provides value to all types of traders. With this goal in mind, they have launched two products after going live on the Starknet mainnet in late January to meet the diverse trading needs of users.
OG Trade, a gamified perpetual contract DEX, was the first to go live on January 31. It is designed for short-term traders, scalpers, and swing traders, providing a gamified trading experience by allowing traders to participate in trading competitions every 30 minutes. Within four hours of its launch, it surpassed $1 million in trading volume.
Currently, the platform supports BTC/USDC, ETH/USDC, SOL/USDC, and STRK/USDC trading pairs. Users can earn multiple rewards, including 7 million $ZKX tokens (available until the end of March), PVL badges (for profit, volume, and loss), and exclusive Clan NFTs.
OG Trade’s gamified trading experience allows traders to compete in three reward categories: profit, volume, and loss (PVL). To enter the reward zone, participants need to be in the top 10% in any category, with a maximum of 100 traders rewarded per category. The top three traders not only receive gold, silver, or bronze medals but also receive the majority of the token rewards, with the remaining winners sharing the rest of the token prize pool.
In addition, OG Trade assigns Clans (groups) based on users’ on-chain records in DeFi. There are four Clans: Yakuza Barons, Pachinko Degens, Ethereum Titans, and DeFi High Rollers. Users can unlock various benefits by obtaining Clan roles, such as eligibility for the second airdrop, Clan NFTs, and access to private VIP Telegram groups for Ethereum Titans and DeFi High Rollers.
On February 19, the team launched Pro Trade, which offers advanced features for experienced traders in addition to gas-free orders and the ability to earn $ZKX mainnet incentives. Pro Trade currently supports ETH, SOL, BTC, and STRK markets, with leverage of up to 20x. The implementation of DAO governance later this year will allow permissionless market listings, significantly expanding Pro Trade’s market. Its main features include customizable UI options, comprehensive order types, powerful APIs for high-frequency and reliable trading, an internal virtual machine to reduce price volatility, and a full-margin account for efficient risk management.
In ZKX, your performance matches your rewards. You can earn locked $ZKX tokens through trading incentives, with 7 million $ZKX tokens allocated for OG Trade’s mainnet launch period and 12.1 million $ZKX tokens for Pro Trade’s 2.0 airdrop. Users also have the opportunity to earn $STRK tokens through the DeFi Spring program by the Starknet Foundation, with a distribution of a total of 40 million STRK tokens every two weeks by the Starknet DeFi Committee in the next six to eight months.
Since the launch of OG Trade on Starknet, the platform has achieved over 200,000 transactions and a total trading volume of over $80 million in just two weeks. Over 7,500 Clan NFTs have been claimed, showcasing its impressive initial performance.
OG Trade and Pro Trade are just in the early stages of the ZKX roadmap. Future plans include a second airdrop, staking program, listing of $ZKX tokens, social trading and liquidity pools, and the launch of the ZKX application chain block explorer. ZKX aims to not only meet the needs of all types of traders but also build on the grand vision of a “DeFi one-stop solution.” With time, we can expect ZKX to bring us more innovative trading experiences.
Source: https://bit.ly/3TdssQQ