Alisa Davidson
Published: September 02, 2024 at 11:49 am Updated: September 02, 2024 at 11:49 am
Edited and fact-checked:
September 02, 2024 at 11:49 am
In Brief
FWX introduced a new Perpetual Trading feature, aimed at improving the trading experience for users, supported by the Pyth Network.
AMM-based leveraged swap platform FWX introduced a new Perpetual Trading feature, aimed at improving the trading experience for users, supported by the oracle service Pyth Network.
FWX Perpetual Trading is a decentralized perpetual exchange that allows users to trade a range of cryptocurrencies with leverage directly from their deposited balance. Operating on the Base blockchain, it provides a decentralized trading experience with the advantage of very low gas fees. The platform is designed to accommodate both novice and experienced traders, offering a smooth environment for high-leverage trading along with a comprehensive risk management system.
This feature allows users to trade major tokens with leverage, enhancing their positions and potentially increasing profits on popular tokens without expiry dates. Additionally, it offers leverage of up to 30x on trades. The platform supports both long and short positions, enabling traders to benefit from both upward and downward market movements. Pricing for these trades is dynamic and based on data from the Pyth Network, which is recognized for providing high-accuracy market information.
Currently, the platform imposes a trading fee of 0.1%, along with a One-Time Funding Fee (OTF) that is charged at both the opening and closing of a position. The OTF is determined by the variation in open interest (OI) volumes between long and short positions.
Additionally, FWX has refined the cross-margin system. All positions are now collateralized with USDC, providing traders with stability while enabling them to open and manage multiple positions across different trading pairs within a single, adaptable collateral pool.
What Is FWX?
FWX allows users to list tokens from their inception by providing liquidity. The platform supports leveraged trading and lending pools, and its unique hedging algorithm protects liquidity providers from being required to supply liquidity in specific pairs, mitigating risks such as impermanent loss and other potential losses associated with traders’ profit and loss.
Recently, FWX has updated its margin configuration and leverage settings for its official futures trading pairs. These adjustments aim to enhance user experience and offer greater flexibility. Key changes include increasing the maximum leverage to 10x, reducing the minimum margin to 10%, and lowering the maintenance margin to 5% for trading pairs involving AVAX with USDC, WETH, SAVAX, GMX, and others.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
In conclusion, the introduction of FWX’s Perpetual Trading feature on the Base blockchain offers users a decentralized and low-fee trading experience. With leveraged trading, dynamic pricing, and support for both long and short positions, FWX aims to enhance user profitability and risk management. By collaborating with the Pyth Network, FWX ensures accurate market data for informed trading decisions. As the platform continues to evolve, offering new features and improvements, traders can expect an innovative and secure environment for their trading activities. Stay updated with the latest trends in the decentralized finance space through platforms like DeFi Daily News for more insightful articles like this. Happy trading!
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