Perptual Futures DEX Innovation: Unissued Coin Projects Show Potential

Decentralized perpetual futures exchanges (Perp DEX) are one of the most watched tracks in the blockchain space. Although the market is currently dominated by projects like dYdX, GMX, and Synthetix, a wave of emerging projects with no issued coins has recently surfaced, showcasing excellent performance in technological innovation and user experience, bringing new vitality to the market.

Aark Digital: Diversified Collateral and Efficient Settlement

Aark Digital is a Perptual Futures DEX based on Arbitrum, utilizing a virtual liquidity pool model and a parallel market maker architecture. Its main features include:

1. Supports a full-margin cross-margin model with multiple collateral types.
2. Efficient settlement process, click to complete the transaction
3. Aggregate the liquidity of CEX and DEX to prevent price manipulation.
4. Support leveraged liquidity provision

Aark Digital incentivizes users to participate through a liquidity soft-lock program and mining activities.

Drift: A Comprehensive Trading Platform on Solana

Drift is a decentralized trading platform based on Solana, offering various trading features such as spot trading, leverage, and Perptual Futures. Its characteristics include:

1. Diversified liquidity mechanism
2. Dutch Auction Trading Model
3. Insurance Fund Mechanism
4. Support for multiple collateral types, automatic acquisition of deposit earnings
5. Support for leveraged liquidity provision

Drift currently attracts users through weekly lottery events.

Zeta: Focused on On-chain Limit Order Book

Zeta is a derivatives protocol on Solana that primarily provides Perptual Futures trading services. Its features include a fully on-chain limit order book model. Zeta incentivizes users to participate in trading through the Z-Score point system.

MYX: Innovative Matching Pool Mechanism

MYX adopts a unique matching pool mechanism that addresses the issue of limited open interest in traditional Perpetual Futures DEXs. Its main innovation lies in:

1. When the long-short balance is achieved, theoretically, an unlimited amount of open interest can be realized.
2. Higher trading volume may be achieved under the same liquidity.
3. Achieve zero slippage, no borrowing fees, and other advantages.

MYX is currently in the testing phase and is offering rewards to users participating in the test.

Hyperliquid: Self-sovereign Layer 1 Order Book Exchange

Hyperliquid operates on its own Layer 1 and provides features similar to traditional centralized exchanges. Its characteristics include:

1. Supports trading of numerous long-tail assets
2. Provide multiple market-making strategies Vault
3. Use a points system to incentivize user participation

Jupiter: Popular JLP Product on Solana

Jupiter's JLP is a GLP product similar to GMX on Solana. Although it is not very innovative, it is extremely popular in the Solana ecosystem. Its popularity may be related to Jupiter's high valuation and potential airdrops.

Summary

The Perpetual Futures DEX track showcases diversity and innovative potential, with new projects likely to challenge the existing market landscape through technological innovations and flexible incentive measures. However, users should remain cautious and be aware of security risks when participating.