⚖️Perps
Enter the world of decentralised leverage trading on Polygon. QuickSwap is bringing the industry alive with two sets of advanced perps DEXs.
QuickPerps: Falkor
Falkor is a powerful and robust decentralised Perpetual Exchange built on Orderly Network, where users deposit funds into a “vault” from the Polygon PoS network to trade with up to 50x leverage with zero gas fees, near-instant transactions, and a wide variety of advanced features.
It provides users with an intuitive UI/UX offering advanced tools like an orderbook model, limit orders, trailing stops, take profit orders, stop losses, and so much more.
This perps DEX eliminates the need for bridging when depositing from Polygon PoS to the Orderly Network.
Currently, Falkor supports leverage trading for 39+ different popular crypto tokens (up to 50x on BTC and ETH, up to 10x on the rest).
QuickPerps: Hydra
Hydra is QuickSwap's original decentralised Perpetual Exchange built on Polygon zkEVM that allows users to trade perpetual swap contracts with up to 50x leverage in a decentralised & permissionless fashion.
Launched in May 2023, it was the first perps exchange to ever deploy on Polygon zkEVM & helped ignite significant adoption & activity for the chain, achieving $30M+ in total volume, over 3K users, $7.5M+ in TVL, and much more in just the first few weeks since inception.
It's recently been upgraded to a V2 version (rebranded as Hydra) and enables a wide variety of new features along with a sleek UI/UX, such as:
3 Asset Classes: Features a perp aggregator where users can leverage trade across 4 different asset classes (crypto, forex, and commodities)
Higher Leverage: Trade with up to 100x leverage with all possible order types (stop loss, take profit, reduce only) and an innovative trailing stop loss feature
Optimised for LPs: The perp DEX mechanism allows for individual pools to exist on each chain for each collateral asset, enabling asset isolation, payouts, and the possibility to manage open interest. Moreover, LPs can better manage their risk and optimise their ROI that has the potential to draw in more liquidity and benefit all LPs and traders
Chain Abstraction Mechanism: Efficiently settles orders by selecting the most favourable route and rate for each trade (more information below)
Faster Trades & High Liquidity: Traders benefit from faster transaction execution times and deep liquidity for open interest when creating leverage positions
Guaranteed Price Execution: When opening or closing trades, there will be a guaranteed price execution, regardless of what happens on the chain (i.e. reorgs, slow RPC response times)
Collateral Flexibility: Users can settle and trade in their preferred collateral asset, versus the existing version where this was limited
Improved UI/UX: Enjoy a faster, smoother, and more seamless trading experience with a new user interface
Powerful Oracle Solutions: Reliable price feeds to optimise on-chain trades that will be sourced (currently in the exploration phase) from major oracle providers - Chainlink, Pyth, and API3
Audits and Security: The perp DEX’s smart contracts have been audited by a top-tier blockchain auditing firm both Hacken and Protofire, plus are also being consistently monitored by Hypernative Labs to maintain the utmost security for users
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