SINGAPORE – DEXILON, the fully decentralized derivatives exchange, today announces its testnet launch, paving the way for institutional-grade trading derivatives.
DEXILON is a next-generation decentralized derivative exchange and ecosystem which can be utilized to launch derivative contracts for non-crypto assets such as metal, energy and soft commodities, and foreign exchange (FX).
EXILON – which has raised $2M in seed funding – is backed by GSR, Youbi Capital, Fenbushi Capital, Ledgerprime, and Cipholio Ventures.
“Unlike black box centralized exchanges and slow and expensive decentralized exchanges (DEXs), DEXILON has radically transparent trading logic with lightning execution and highly competitive costs,” said Co-Founder Maksym Aptilon.
“We are creating a first-in-class, institutional-grade derivatives DEX infrastructure.”
This is all made possible with native blockchain developed specifically to operate a decentralized exchange. The native chain is built on top of the Cosmos SDK and, together with a decentralized matching engine and proprietary oracles, DEXILON aims to open up a new era of trading derivatives.
A heaven for market makers, DEXILON offers a combination of best trading execution perks with a revolutionary fee structure, all aimed to substantially reduce the cost of running market making. For example, there is no gas cost for the trader but rather it is covered as a portion of taker fees. “Once we reach deep liquidity, retail will follow in search of more transparent ways to trade derivatives,” Maksym continues.
DEXILON aims to be the cheapest all-in trading solution, boasting features to protect the market from flash crashes. For this, the team developed an innovative liquidation pool where users can bid for a liquidated position instead of selling them off in the market. The idea comes from a traditional finance strategy called block trading. “We are creating new profit frontiers unseen in other exchanges,” Maksym said.