Getting Ready for Matrixswap Perpetual v1

The Matrixswap development team has had a busy last few months. Starting off with the initial launch of our DEX Aggregator, we’ve also been extremely focused on building our flagship product, our Perpetual Swaps Decentralized Exchange (DEX). One of the most common questions within our community recently has been “wen perp product?” Rest assured, we’ve been working hard behind the scenes and we’re excited to share our roadmap with you.

What is Matrixswap’s Perpetual DEX?

Matrixswap is a decentralized perpetual swaps (derivatives) trading platform that allows users to trade on the direction price of an asset (long or short position). Matrixswap utilizes a vAMM architecture offering users leveraged trading and infinite on-chain liquidity.

Matrixswap will be initially deployed on Polygon, an Ethereum Layer 2 blockchain. Once available, Matrixswap will also be scaled on Cardano and Polkadot.

Matrixswap aims to deliver beginner and advanced derivatives traders a world-class trading experience that is open to all and with fast transactions and minimal fees. Decentralized by design, traders will have the ability to trade any asset once it becomes available.

What are vAMMs (Virtual Automated Market Makers)?

Originally pioneered by Perpetual Protocol, Matrixswap’s Virtual AMM (vAMM) uses the same x*y=k constant product formula as most AMMs do. However, as the name suggests, the vAMM itself does not contain an actual asset pool. Instead, the actual assets (traders’ collateral) are kept in a smart contract vault that oversees all of the vAMM’s collateral.

In other words, Matrixswap uses vAMMs as price discovery mechanisms, not for spot trading. This allows Martixswap to operate with infinite liquidity with zero impermanent loss for stakeholders, as liquidity providers aren’t required.

We will publish a more in-depth article on our website blog about vAMMs soon.

What to Expect For Matrixswap Perpetual v1

Our goal is to create the best perpetual exchange that will be scaled to multiple blockchains. Starting with Polygon, a secure and fast Ethereum Layer 2 blockchain, you can expect low fees and lightning-quick transactions off the bat.

Like most products delivered within the crypto space, there are certain steps we have to follow to ensure a great user experience that is safe, secure, and reliable before we launch the mainnet.

At the start of November, we will undergo rigorous internal testing on Polygon mainnet (Alpha testing). This internal testing will allow our development team to quickly find and fix bugs, improve user experience, and make sure it’s secure for the public to use.

Shortly after, we will launch our Beta on Polygon mainnet and invite users to thoroughly test and use the product for themselves.

We will also hold a Trading Competition on Beta as well. More details to come for that.

So to answer your question, “wen perp product?” The answer is very, very soon!

Closing Thoughts

We’ve been working hard for months now and are currently in the final stages of getting ready for Beta. Matrixswap Perpetual v1 will mark a milestone for Matrixswap and will bring more users an ultimate derivatives trading experience.

We can’t wait for you to use it.

Trade decentralized perpetual futures with up to 25x leverage on Polygon, Polkadot, & Cardano.