Perpetual Decentralized Exchange, PERPEX, is a DeFi platform that is governed by the Perpetual DAO subDAO. Perpetual features act like a contract to buy an asset at a future date, and the blockchain can enable high leverage speculation with this financial instrument. It is a new and intuitive platform where users can buy, sell, hold and speculate in crypto assets, especially perpetual futures.
The project believes that blockchain technology can increase access to financial instruments and unlock new economic opportunities for worldwide participants. The mission of PERPEX, and Perpetual DAO, is to open up a DeFi platform to everyone that facilitates the trading of perpetual futures.
The key advantage of said platform will be its superior UX/UI design which provides the most feature-abundant and aesthetically pleasing platform for perpetual futures traders on a layer 2 blockchain, as well as providing functionalities that many DeFi protocols lack in today’s markets. It aims to make this awesome technology available to everyone with no tech expertise needed.
A brief feature description can be found below:
- Placing bulk Limit orders through clicking on the order book
- Pre-defined Take Profit, Stop Loss with Limit and Market orders
- Multi-updating of Take Profit and Stop Loss orders
- Trading directly from the order book
- Adding widgets on the home screen and free moving
- Managing multiple trade accounts by easy switching
PERPEX is mainly focused on providing a better perpetual futures platform with better UI design and required features, which will be easier to use and less technical.
Support provided by PeopleDAO
Perpetual DAO received a funding of $7,500 USD in total to help its development the PERPEX team to further the development of the platform and hire people focused on blockchain-integration tasks, as well as frontend development. The PERPEX platform utilized the bulk of the funding in its blockchain-integrated development operation for a functioning demo dApp and website in Q3 2022. The detailed breakdown is as follows:
- Web development: $1500
- UI/UX design: $1200
- Backend integration: $1250
- L2 blockchain integration: $1400
- Testing: $700
- App development: $750
- Discretionary expenses: $700