- Cumulative trading volume in perpetual futures contracts has surpassed $60 trillion since 2020, according to a recent study by Cornell University.
- Perpetual has several advantages over spot market cryptocurrencies, including lower fees and faster execution.
- Choise.ai announced the launch of PerpeX, a new decentralized exchange designed specifically for this perpetual market.
The perpetual futures market is one of the fastest growing segments of the cryptocurrency sector. Cumulative trading volume in perpetual contracts since 2020 reached a whopping $60 trillion in February, according to a recent study from Cornell University.
To put this figure into perspective, the total cumulative trading volume of the entire spot cryptocurrency market over the past year was approximately $12 trillion.
To serve the rapidly growing permanent gemstone market, Choose.ai announced the launch of PerpeX, a new decentralized perpetual exchange that aims to set a new industry standard for perpetual futures trading.
PerpeX Release AnnouncementVlad Gorbunov, founder of Choose.ai, said:
“PerpeX is a decentralized tool that significantly strengthens the Web3 initiative. In the future, the product will include AI-assisted features to help you manage your trades while also assisting with risk profile and leverage settings. We are also moving towards cross-chain solutions.
Developed by a dedicated team, our exchange will be the standard with one of the lowest gas rates on the market, integrated into the enterprise sector, aligns well with Choise.ai and marks a new direction for us. CHO tokens will be deeply integrated into PerpeX, increasing their utility value.”
Aiming to impress
The new PerpeX exchange aims to impress cryptocurrency traders with advanced features including:
Broad market diversity: Although Choise.ai is a leading cryptocurrency platform, PerpeX traders are not limited to cryptocurrency futures. You can also trade forex, metals and stock futures on this new permanent exchange with leverage ranging from 200x to 1000x depending on the market. Traders also have the option to create new synthetic futures markets using price oracles.
vAMM (Virtual Automation Market Maker): PerpeX leverages cutting-edge DeFi math to replace traditional order books with virtual algorithms. PerpeX core automatically executes trades based on sophisticated algorithms tailored to each market, allowing users to place orders even in markets with low liquidity.
Comprehensive Trading Tools: PerpeX supports all traditional trading tools, including limit orders, stop-loss, take-profit, and allows traders to change leverage levels by adding or reducing collateral.
Efficient price aggregation: PerpeX uses an oracle system to aggregate prices from major sources such as Chainlink and PYTH, ensuring accurate and reliable prices for all markets.
Liquidity, Staking and Profit: PerpeX users can stake USDT on the platform, participate in shared liquidity pools, and receive a portion of platform income.
Minimum transaction cost: Choise.ai said that PerpeX’s fee structure is specifically designed to ensure the lowest possible transaction fees for every transaction.
Analysis and Monitoring: PerpeX provides traders with an advanced monitoring and alerting system that allows them to track market movements and trading performance.
Token Integration: Choise.ai’s CHO token is deeply integrated into exchanges, providing traders with discounts of up to 50% when paying trading fees with CHO, as well as opportunities for revenue sharing and liquidity provisioning. Given that some analysts estimate that PerpeX’s overall market potential could eventually rise to $100 trillion, this could mean that there is a lot of revenue-sharing potential for perpetual futures traders on this exchange.
It is also worth mentioning that the value of the CHO token itself may rise rapidly once the new PerpeX platform is launched. As we have emphasized in the past Big announcements from Choise.ai tend to trigger token price spikes, most recently seeing a 500% surge in the value of $CHO earlier this year.
In fact, many analysts are predicting CHO to jump another 20x in the near future:
I invested in AI GEM
◢ Approx. @ChoiseAI. A large ecosystem focused on enterprise, Web3, and AI solutions.
that much $FOR Despite that, ChoiseAI has a market capitalization of only $10 million.
• Globally licensed.
• We have partnerships with Visa and Mastercard.◢ Recent merger announcement… pic.twitter.com/VbTftdf36H
— Ronin (@DeRonin_) May 29, 2024
Choise.ai has not yet confirmed 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.