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- Decibel launches a fully on-chain perpetuals exchange after a high-activity Aptos testnet.
- The platform offers on-chain order books, risk controls, audited contracts, and cross-chain access.
- Nearly $900B on-chain perps market sets the stage as Decibel expands toward multi-asset trading.
Decibel, a fully on-chain perpetuals exchange supported by Aptos Labs, has launched its fully on-chain perpetuals exchange on the Aptos mainnet. This allows users to trade perpetual contracts directly on the blockchain. All these functions run through smart contracts. This follows a substantial testnet phase with considerable activity from users.
This testnet has had more than 700,000 unique accounts. It has also had 132,000 daily active users. Daily trade volume of more than 1 million trades. Users deposit more than $58 million during the pre-deposit campaign prior to the mainnet going live.
Decibel has a fully on-chain central limit order book. This means that every trade match is on-chain. Every action is visible on the blockchain. There is no off-chain engine affecting the order book or fees.
Decibel Risk Controls and Cross-Chain Activity
Decibel has an on-chain risk engine. It has real-time margin limits and has automated smart contracts for prices and liquidations. This system aims to ensure transparency in volatile markets.
The liquidity pool is native to the Decibel protocol. It was created using Gauntlet. The pool enables trading. The liquidity pool helps in stabilizing the execution of trades, especially in an environment with changing markets. The liquidity pool is also beneficial in ensuring smoother trading, especially when there is a surge in demand.
The cross-chain activity has been impressive. About 40% of the deposits were from users on the Ethereum and Solana chains. The default collateral used is the usDCBL.
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The usDCBL is a stablecoin, and it is based on the dollar. The company issuing the stablecoin is Bridge, which is a Stripe company.
Advanced Trading Utilities and Security Framework
The platform offers traders several options. First, it offers APIs and sub-accounts. The platform also offers real-time dashboards for traders. The smart contracts used in the platform were audited. The platform uses Chainlink for updating prices and liquidations.
The platform offers the Builder Codes. The codes can be used by the developer. The codes help in routing volume. The program offers a share of the fees. It is designed to increase activity on the exchange. It also supports liquidity growth.
Decibel enters a fast-growing on-chain perpetuals market. DeFiLlama data shows nearly $900 billion in trading volume over the past month. The platform operates on a layer 1 network. It aims to deliver fast execution and precise liquidation.
Source: DeFiLlama
Decibel faces competition from Hyperliquid. It also competes with Aster and Lighter. The exchange plans future upgrades. These include spot markets, multi-collateral accounts, and tokenized real-world assets. The platform also intends to add more on-chain asset classes.
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