A new decentralized exchange (dex) on Arbitrum, called Vest Exchange, was announced at the end of last week, and the team behind the project said the platform aims to focus on democratizing perpetual futures contracts. The team behind Vest also explained that the new Arbitrum dex is backed by companies such as Jane Street, QCP Capital and Big Brain Holdings.
Sitra aims to revolutionize perpetual challenge challenges with a cutting-edge risk engine and support from pre-eminent investment firms
Creators of the new dex platform built on the Arbitrum layer 2 blockchain announce in january. On May 28, 2023, the project came out of stealth mode. The venture, called Vest Exchange, closed a seed round with investments from companies such as Jane Street, QCP Capital, Big Brain Holdings, Pear VC, Cogitent, Moonshot Research, Fugazi Labs, Ascendex, Builder Capital, Infinity Ventures Crypto and Robert Chen (OtterSec). Vest Exchange also provided a summary of the project in a blog post published the same day.
Vest believes that the decentralized financial system relies on decentralized exchange platforms for its strength. However, the team at Vest believes that existing prominent exchanges have limitations, including “high barriers to market listing, lack of risk management, and unclear risk and return for liquidity providers.”
Feist explained that dex solves these three problems by taking advantage of a proprietary risk engine. Furthermore, research and modern technologies are being used to “open up new illiquid markets faster than any other centralized or decentralized exchange.” The Feist blog post adds:
We hope Vest will raise the bar for perpetual futures trading by democratizing access to unique trading opportunities across all markets.
Arbitrum is a tier two project and the fourth largest blockchain in decentralized finance, with a total value of $1.25 billion locked. The largest protocol on the Arbitrum network, in terms of total value locked, is GMX, a decentralized derivatives exchange that connects to the Avalanche blockchain network. The blog post about Vest’s launch notes that Discord and Testnet will be launching soon. Vest also created a research forum, search.vest.xyz, for public research on decentralized finance.
What are your thoughts on Vest Exchange’s mission to democratize perpetual futures trading and shake up the decentralized financial landscape? Let us know in the comments below.
Image credits: shutterstock, pixabay, wikicommons
Not giving an opinion: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
/cdn.vox-cdn.com/uploads/chorus_asset/file/23954510/acastro_STK459_12.jpg)
