Decentralization Trading Platform for Unissued Perptual Futures: Innovation and Opportunities

The Decentralization Perptual Futures trading platform (Perp DEX) is a field full of value and innovation. Although mainstream platforms have dominated the market, several newly emerged projects that have not issued coins recently show strong competitiveness. Most of these projects use methods like points to achieve a cold start, providing potential opportunities for early participants.

Aark Digital

Aark Digital is a Perp DEX based on Arbitrum, which completed its seed round financing in July this year. Its main features include:

• Adopt a virtual liquidity pool model
• Parallel market maker architecture, aggregating CEX and DEX liquidity
• Supports full-margin cross-margin model with various collateral types
• Efficient settlement process

To achieve a cold start, Aark Digital has launched a liquidity soft lock program and trading mining activities.

Drift

Drift is a decentralized trading platform based on Solana, offering a variety of features:

• Spot, leverage and Perptual Futures trading
• Multiple liquidity mechanisms
• Insurance Fund
• Support for various collateral types as margin
• Leverage liquidity provision

Currently, Drift has launched a lottery event called Drift Draw, with the prize coming from the insurance fund.

Zeta

Zeta is a derivatives protocol on Solana that provides Perptual Futures trading services. Its特点是采用完全链上的限价订单簿。目前Zeta实施了Z-Score积分系统，积分可用于获取代币奖励。

MYX

MYX adopts a unique matching pool mechanism that addresses the liquidity occupation problem of traditional Perptual Futures DEXs. Its innovations include:

• When long and short positions are balanced, LP does not need to bear risks.
• Theoretically, an unlimited open interest can be achieved.
• May bring higher trading volume under the same liquidity

MYX is currently conducting the second phase of testing, and users participating in the test can receive rewards.

Hyperliquid

Hyperliquid operates on its own Layer 1, providing functionalities similar to traditional centralized exchanges:

• Supports trading of various long-tail assets
• Provide a Vault with multiple market-making strategies

Hyperliquid has launched a points system, distributing 1 million points weekly for 6 months.

Jupiter

Jupiter's JLP is a GLP-like product on Solana that provides Perptual Futures trading services through a basket of assets. Although there are no obvious innovations, it is very popular in the Solana ecosystem, which may be related to its high valuation and potential airdrop.

Conclusion

The Perpetual Futures DEX track demonstrates diversity and innovation, and with different incentive mechanisms, there may be projects that challenge the status of existing leading platforms. Early participants may have more opportunities, but they also need to be aware of the security risks in this track, as new projects may carry higher risks.