We are delighted to announce that Matrixswap’s Perpetual DEX v1 (Beta Mainnet) is now officially live! This marks a new milestone for Matrixswap as we aim to build an amazing derivatives trading platform.
The Matrixswap team has been working hard to release our initial version of our Perpetual DEX and efforts have finally paid off.
Below is a quick summary of what our Perpetual DEX is.
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.
Mainnet Beta (Beta Testing)
As the word “beta” suggests, this stage is our beta-testing stage for our Perpetual DEX. Just like our DEX Aggregator, we will invite select users to test and find bugs.
This is a very important stage for us as community feedback is very valuable and will take all feedback to heart. All bugs found will be fixed in time for our Trading Competition shortly after (more details soon).
Users will also be invited to a private Discord channel specifically for this purpose.
You can also read more official documentation on how to get started with trading on Mainnet Beta. (Please keep in mind that only test-USDC is available to test out the features — feel free to get familiar before our trading competition with tons of prizes.)
After this initial testing phase, we will continue to work on improvements that will provide an amazing user experience. That includes fixing all of the initial bugs, changes to the UI, and more.
Just like our DEX Aggregator, the interface will get the Matrixswap UI update that our community has come to know and love.
We’d like to thank our community for their continued support and patience in this amazing journey. Matrixswap has come a long way since our IDO and we appreciate everyone who has helped us along the way.
The journey doesn’t end here. Stay tuned for what’s to come!
Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot, Cardano, and Polygon blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. Matrixswap aims to be a fully community-owned and governed Defi protocol.