- Recent research by Cornell University has revealed that the cumulative trading volume of perpetual futures contracts since 2020 has surpassed $60 trillion
- Perpetuals have a number of advantages over spot market cryptocurrencies, including lower fees and faster execution
- Choise.ai has announced the launch of PerpeX, a new decentralized exchange specifically designed for this perpetuals market
The perpetual futures market is one of the fastest growing segments of the cryptocurrency sector, with recent research from Cornell University revealing that the cumulative trading volume of perpetual contracts since 2020 clocked in at a truly staggering $60 trillion in February.
To put that figure into perspective, the cumulative trading volume for the entire spot cryptocurrency market during the past year was approximately $12 trillion.
To serve that fast-growing perpetuals market, Choise.ai has announced the launch of PerpeX, a new decentralized perpetual exchange that aims to set a new industry standard for perpetual futures trading.
Announcing the launch of PerpeX, Vlad Gorbunov, Founder of Choise.ai, said:
“PerpeX is a decentralized tool that significantly strengthens our Web3 initiatives. In the future, this product will feature AI support to assist with setting risk profiles and leverages, while also managing trades. Additionally, we are advancing towards cross-chain solutions.
Being developed by a dedicated team, our exchange will become a standard for one of the lowest gas fees in the market and will be integrated into the enterprise sector, aligning well with Choise.ai and marking a new direction for us. The CHO token will be deeply integrated into PerpeX, which will enhance its utility value.”
Aiming to Impress
The new PerpeX exchange is aiming to impress crypto traders with its advanced features, including:
Expansive Market Variety: Although Choise.ai is a leading crypto platform, PerpeX traders aren’t limited to cryptocurrency futures. They can also trade forex, metal and stock futures on this new perpetuals exchange, with leverage of 200x to 1000x, depending on the market. Traders will also have the option to create new synthetic futures markets using a price oracle.
Virtual Automated Market Maker (vAMM): PerpeX leverages cutting-edge DeFi mathematics to replace the traditional order book with a virtual algorithmic one. This enables users to place orders even in low-liquidity markets, as the PerpeX core automatically executes trades based on a sophisticated algorithm tailored to each market.
Comprehensive Trading Tools: PerpeX will support all classic trading tools, including limit orders, stop losses, and take profits, and traders will have the option to alter their leverage levels by adding or reducing collateral.
Efficient Price Aggregation: PerpeX will use an oracle system to aggregate prices from leading sources such as Chainlink and PYTH, ensuring accurate and reliable pricing for all markets.
Liquidity, Staking and Earnings: PerpeX users will be able to stake USDT on the platform, participate in the shared liquidity pool, and receive a portion of the platform’s income.
Minimal Transaction Costs: Choise.ai said PerpeX’s fee structure is specifically designed to ensure the lowest possible transaction fees for all trades.
Analytics and Monitoring: PerpeX will offer traders advanced monitoring and alert systems to keep track of market movements and trading performance.
Token Integration: Choise.ai’s CHO token will be deeply integrated into the exchange, and will offer traders discounts of up to 50% when they pay trading fees with CHO, as well as the opportunity for revenue sharing and liquidity provision earnings. Given that some analysts are estimating that PerpeX’s total market potential could eventually climb to $100 trillion, that could mean a lot of revshare potential for perpetual futures traders on this exchange.
It’s also worth mentioning that the value of the CHO token itself could rise sharply when the new PerpeX platform goes live, because as we’ve highlighted in the past big announcements from Choise.ai tend to trigger a surge in the token’s price, most recently a 500% spike in value for $CHO earlier this year.
In fact, a number of analysts for forecasting another 20x jump for CHO in the near term:
Just Invested in AI GEM
◢ It’s about @ChoiseAI. The large ecosystem focused on enterprise, Web3, and AI solutions.
The $CHO market cap is only $10M, despite ChoiseAI:
• Having obtained global licenses.
• Partnered with Visa and Mastercard.◢ Recently announced a merger… pic.twitter.com/VbTftdf36H
— Ronin (@DeRonin_) May 29, 2024
Choise.ai is yet to confirm a specific launch date for PerpeX, but industry insiders suggest it could be available to perpetual futures traders as early as June, so watch this space.
The post As Perpetual Futures Surpass $60 Trillion in Cumulative Trading Volume, Choise.ai Launches PerpeX, a New Decentralized Perpetual Exchange appeared first on CoinJournal.
