Alyssa Davidson
Posted: September 2, 2024 11:49 AM Updated: September 2, 2024 11:49 AM
Edit and fact check: September 2, 2024, 11:49 AM
Briefly
FWX, with support from Pyth Network, has launched a new perpetual trading feature aimed at improving users’ trading experience.
AMM-based leveraged swap platform FWX has launched a new perpetual trading feature with the support of oracle service Pyth Network, aimed at improving users’ trading experience.
FWX Perpetual Trading is a decentralized perpetual exchange that allows users to trade a variety of cryptocurrencies with leverage directly from their deposited balance. It operates on the Base blockchain and offers a decentralized trading experience with the benefit of very low gas fees. The platform is designed to accommodate both beginners and experienced traders, providing a smooth environment for high-leverage trading along with a comprehensive risk management system.
This feature allows users to trade major tokens with leverage to strengthen their positions and increase their profits on popular tokens without expiration dates. It also offers up to 30x leverage on trades. The platform supports both long and short positions, allowing traders to profit from both rising and falling market movements. The prices for these trades are based on data from Pyth Network, which is known for providing dynamic and highly accurate market information.
The current platform charges a 0.1% trading fee and a one-time funding fee (OTF) charged when opening and closing positions. The OTF is determined based on the change in open interest (OI) volume between long and short positions.
Additionally, FWX has improved its cross margin system. All positions are now collateralized with USDC, providing traders with stability while allowing them to open and manage multiple positions across multiple trading pairs within a single adaptive collateral pool.
What is FWX?
FWX provides liquidity, allowing users to list tokens from the beginning. The platform supports leveraged trading and lending pools, and its unique hedging algorithm protects liquidity providers from having to provide liquidity for a specific pair, mitigating risks such as temporary losses and other potential losses related to traders’ profits and losses.
Recently, FWX updated the margin configuration and leverage settings for official futures trading pairs. These adjustments aim to improve user experience and provide greater flexibility. The main changes include increasing the maximum leverage to 10x, lowering the minimum margin to 10%, and lowering the maintenance margin to 5% for AVAX trading pairs, including USDC, WETH, SAVAX, and GMX.
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About the Author
A dedicated journalist for MPost, Alyssa specializes in the vast areas of cryptocurrencies, zero-knowledge proofs, investments and Web3. She has a keen eye for emerging trends and technologies, and provides comprehensive coverage to inform and engage readers in the ever-evolving digital finance landscape.
More Articles
Alyssa Davidson
A dedicated journalist for MPost, Alyssa specializes in the vast areas of cryptocurrencies, zero-knowledge proofs, investments and Web3. She has a keen eye for emerging trends and technologies, and provides comprehensive coverage to inform and engage readers in the ever-evolving digital finance landscape.
More Articles