In our latest article and X thread, "Rethinking MetalSwap," we analyzed the past and present of MetalSwap, the world's first dApp to bring hedging contracts into DeFi.
After months of research, analysis, and behind-the-scenes work, the team is proud to announce that MetalSwap is working on creating a Perpetual DEX!
This is a historic moment for this project because the perpetual derivative instrument is undoubtedly the most used in DeFi today and MetalSwap is determined to create a suite of derivatives and enter this market, which moves billions of dollars in volume daily.
A perpetual decentralized exchange is a blockchain-based platform that allows users to trade perpetual futures contracts without relying on a centralized authority. Unlike traditional futures contracts, perpetual contracts have no expiration date, enabling traders to hold positions indefinitely.
As a derivatives instrument, perpetual contracts let users trade, long and short, various assets with leverage, without directly owning the underlying asset. While they are primarily used for speculation, perpetual contracts can also serve as a hedging solution for more complex trading strategies.
Some of the most successful Perp DEX in DeFi are dApp like GMX, DyDX, Perpetual Protocol or Vertex.
The answer to this question is both simple and extremely complicated.
First of all, we want to make it clear that MetalSwap will continue to develop the Hedging Contracts and still considers this a product with great potential, especially in the next evolution of the crypto RWA sector and the tokenization of traditional financial assets.
The perpetual DEX will be a different and entirely new product, making MetalSwap a comprehensive derivatives suite where different types of traders can meet their needs.
In light of various research in the financial derivatives sector, as evidenced by the discussions in the blog articles, it seems sensible to propose the development of a widely used product focused on the theme of crypto digital assets.
During periods of high volatility, when traders complete more transactions, there are days when the total trading volume of all perpetual DEXs exceeds $4 billion.
This clearly indicates that DeFi traders today use this type of derivative to complete their operations.
MetalSwap, which has always catered to a business user base with its Hedging Contracts, now wants to explore this new market and will do so as a pioneer, just as it did in the hedging contracts sector.
The idea of creating a Perp DEX stems from months of research by the team and now needs to be evaluated by the entire community and the XMT token holders.
A TempCheck is now open from September 3, 2024, until September 6, 2024, providing an opportunity for the DAO participators to share their opinions on the creation of this new product.
If the Snapshot will see a positive vote, the process for the deployment of the Perpetual DEX will begin.
We don’t have exact dates for the release of the new derivative instrument yet, but we assure you that you won't have to wait long to get your hands on the first demo version of this new product from MetalSwap!
Today, more than any other day, the MetalSwap community must be united and ready for the beginning of a new era for this project.
More details and dates on the upcoming releases will be announced soon, but the news doesn't end here!
If the announcement about the upcoming release of the perpetual DEX wasn't enough to increase your hype, just wait a few more days for potentially even bigger news!
As always, we invite you to follow our X profile and the official blog if you don't want to miss the next announcement.
Stay tuned!
-The DeFi Foundation
MetalSwap is a decentralized platform that allows Hedging Contract on financial markets with the aim of providing coverage to those who work with Digital Asset and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.
With Hedging Contract we enable hedge swap transactions through the use of Smart Contracts, AMM style.
It's great to Hedge the Risk of Price volatility with MetalSwap dApp !