Paradigm Incubates Decentralized Derivatives Platform “Paradex”
Paradigm, the institutional liquidity platform for cryptocurrency, has announced the development of a decentralized perpetual derivatives platform called “Paradex.” This new platform is described as a hybrid derivatives exchange that will integrate liquidity from Paradigm with the transparency and self-custody features of decentralized finance (DeFi). The collaboration between Paradigm and StarkWare, a contributor to Starknet, lasted for six months and resulted in the creation of Paradex.
Key Points:
- Paradex is a decentralized perpetual derivatives Layer 2 appchain incubated by Paradigm.
- The project aims to combine the liquidity from Paradigm with the transparency and self-custody of DeFi.
- Paradex will operate on its own chain based on Starknet’s developer stack.
- The collaboration between StarkWare and Paradigm took six months.
- Paradigm intends to expand its presence in the Layer 2 domain with the launch of Paradex.
Hot Take: Paradex is an exciting development that brings together the expertise of Paradigm and StarkWare to create a decentralized derivatives platform with enhanced transparency and self-custody. The collaboration and integration of liquidity from Paradigm will likely attract both centralized finance and decentralized finance traders to the platform. As the Layer 2 domain continues to grow, Paradex’s presence in this space will undoubtedly contribute to the advancement of the cryptocurrency ecosystem.
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