00:00EdgeX is a decentralized perpetual platform that's pretty much an app-specific execution layer optimized for high-performance on-chain trading.
00:11If you want to get started with EdgeX, the link is in the description.
00:15It's a next-generation pep dex built for speed and, like I said, professional execution.
00:20And today we're looking at the architecture, the fees, the liquidity, the UX, the security model, and how it compares to other dexes like Hyperliquid and Aster and Drift.
00:30and all the other leading pep dexes.
00:32So let's get started, right?
00:33Early peps, dexes, you know, kind of like they had fragmented liquidity, AMM designs that struggled during volatility.
00:41And this is really what EdgeX is trying to fix, positioning itself not only as a simplified retail trader dex,
00:50but also a professional-grade trading venue for serious volume and fast execution and scalability.
00:56And rather than kind of mimicking the gimmicks, it's really focusing on what matters most,
01:01which is consistent execution, underload, predictable liquidation mechanics,
01:06and a familiar order book trading infrastructure that can really scale even when it's volatile, right?
01:13So EdgeX is really interesting because, like I said, it's built around a native order book model
01:20that's designed to replicate, in some respects, kind of improve upon the trading experience of centralized derivatives exchanges
01:28and really using active market makers and order matching,
01:34allowing you as a trader to place your limit orders or your market orders,
01:37and also advanced order times depending on your market configuration.
01:41The platform is really engineered for lower latency execution,
01:45making it suitable for high-frequency traders and professional discretionary traders,
01:50and also automated strategies and bots and liquidity providers who are looking for tighter spreads.
01:55So it's really evolving beyond the Dex
01:58and really positioning itself as a financial settlement layer for on-chain trading.
02:04And the order book design is pretty interesting.
02:08They use a central limit order book club model rather than an automated market maker,
02:14bringing different advantages like price discovery that's driven by real supply and demand,
02:19tighter spreads on liquid markets,
02:21reduce slippage for large orders and better performance during high volatility as well.
02:26The execution layer, just the same, pretty interesting,
02:28and they also have a decentralization model.
02:30It's a non-custodial platform, meaning users are in control of their funds at all times
02:35and all trades have settled on-chain.
02:37Supported markets, BTC perpetuals, ETH perpetuals, major outgoing perps,
02:42selected high-liquidity ecosystem tokens, leverage,
02:46supports high leverage with limits set by market
02:49based on volatility and liquidity depth and risk parameters, right?
02:53So the trading experience and the user interface is pretty slick.
02:56Depth, chart, order books, real-time funding data,
03:00position and margin overviews there, advanced order placements,
03:04clear liquidation thresholds as well as very speedy when it comes to orders,
03:08registering quickly, cancelling immediately,
03:11UI updates that remain smooth, right?
03:13So fees are also interesting.
03:14Makers are incentivized to provide liquidity takers,
03:18pay slightly, higher fees for immediate execution, of course,
03:21funding rates, longs, pay shorts, or vice versa.
03:24Rates are just based on market imbalances
03:26and funding intervals that are clearly kind of communicated
03:30in the liquidity and volumes, very strong on major pairs and tight spreads,
03:34also during normal conditions, volume sustainability.
03:38And like most platforms, they do show signs of organic trading activity
03:43that's driven by execution, quality, and professional users pretty much, right?
03:46Risk management, they've clear maintenance margin requirements,
03:50predictable liquidation prices, and partial liquidation mechanisms
03:53where it's applicable, right?
03:54In the security model, obviously, there's always smart contract risks,
03:58but the execution logic is very transparent.
04:01When you compare it to other DEXs,
04:03you need to check out the link in the description,
04:05which is to the review,
04:06and you can see the comparison with hyperliquid and Asta and Drift.
04:09And I think if you're an experienced trader,
04:11order book native user, strategy trader, and bot trader,
04:15traders are scaling up from kind of centralized platforms to DeFi,
04:19this is definitely one for you.
04:20The link is in the description.
04:21Let me know what your thoughts are.
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