LogX Announces LogX Network to Enable Derivatives Trading on Every Blockchain Network
May 17 2024 - 8:42AM
Business Wire
LogX, the multi-chain decentralized exchange (DEX) with over $13
billion in trading volume, backed by top VCs like IOSG, Hashed,
Coinbase, and Sequoia, as well as leading angels from companies
such as Polygon and Robinhood, announced plans on Friday to launch
the first modular derivatives trading layer built for Infinite
scalability across all blockchain networks. The network is designed
to bring millions of users to derivative trading on-chain built in
collaboration with industry leaders like Arbitrum, Eigenlayer,
Hyperlane and Altlayer.
LogX’s Network aims to scale derivatives trading
infinitely
LogX is expanding its horizon with the launch of the LogX
Network, a new network layer purpose-built for derivatives trading.
This strategic move comes after LogX surpassed $13 billion in
trading volume and attracted over 155,000 traders across 12
blockchain networks. The platform aims to solve the fragmented
liquidity problem in the blockchain space and lack of high-quality
trading experience due to nascent infrastructure.
LogX plans to utilize the Arbitrum Orbit stack, Hyperlane,
Eigenlayer, and Altlayer network, enabling the platform to process
transactions at a speed of over 20,000 transactions per second with
a block time of less than 100 milliseconds. LogX believes that the
infrastructure of the LogX Network positions LogX to launch a perp
dex to any new network within two days, including Bitcoin Layer 2
networks, while providing a seamless centralized exchange-like
trading experience.
“LogX Network’s architecture will make derivatives trading scale
100x from the current level while optimising on capital efficiency
and trading experience,” Akshit Bordia, LogX’s Co-founder said in a
statement.
LogX’s announcement highlights that it empowers LogX to
encompass an extensive array of trading possibilities, such as
perpetuals, spots, and exotic markets, while also granting
developers the liberty to launch perp dexes using their network.
The debut of the LogX Network is expected to take place soon with
their testnet launch.
About LogX:
LogX is a leading perpetual trading exchange for emerging layer
2 networks backed by some of the most prominent Venture firms like
IOSG, Sequoia, Hashed Emergent, Coinbase Ventures and Saison
Capital. LogX has crossed more than $13.5B in trading volume and
155,000 users while garnering a community of 200k+ folks since its
launch.
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