Paradex, an institution-grade decentralized perpetual exchange (Perp DEX) that puts privacy front and center, said on the 3rd it plans to hold a token generation event (TGE) this month for its native token "DIME." Paradex, through materials released at the end of last month, presented recent business metrics and its direction for ecosystem expansion, noting it has entered a turning point ahead of the DIME launch.
Paradex aims for an institution-grade transaction infrastructure targeting the issue institutions are most sensitive to: "exposure of transaction information," going beyond a simple on-chain futures exchange. Because Blockchain transactions are structurally transparent, the size of large positions and liquidation risk zones can be easily read by the market.
To reduce these limitations, Paradex emphasizes a confidentiality-centric architecture and a self-custody environment as key advantages. It is an attempt to realize the security and transaction stability institutions require, even in an on-chain environment.
It is also seeking differentiation in terms of transaction expense and execution quality. Paradex is designed to reduce unnecessary transaction expenses and the likelihood of adverse execution through zero (0) fees for retail users, no application of auto-deleveraging (ADL), and a price improvement (RPI) structure. It currently supports more than 100 markets and up to 50x leverage, with a strategy to deliver institution-grade liquidity and transaction experience even in an on-chain environment.
Actual metrics also show growth. Since its mainnet launch in Feb. 2024, as of the 21st of last month, Paradex recorded approximately $25.18 billion in cumulative trading volume, about $550 million in open interest (OI), more than $160 million in TVL, and more than 70,000 cumulative sign-ups. Recently, daily trading volume topped $3 billion.
DIME is a milestone for Paradex to expand from a single futures exchange into a broader on-chain finance ecosystem. As the native token of Paradex Chain, DIME will connect network utility and stakeholder alignment within an ecosystem that will expand to spot, options, and real-world assets (RWA). It is an asset symbolizing expansion and connection across on-chain financial infrastructure, not a one-off event token.
Meanwhile, Paradex is a project incubated by the institutional crypto derivatives liquidity network Paradigm. In 2021, Paradigm raised a $35 million Series A led jointly by Jump Capital and Alameda Ventures, and Paradex plans to leverage this to expand institution-focused derivatives transactions, which had centered on centralized exchanges (CEX), into a self-custody-based on-chain market.