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Zkxprotocol (ZKX): A Perpetual Contract DEX with Social Attributes

Zkxprotocol (ZKX): A Perpetual Contract DEX with Social Attributes

0x762024/06/19 08:51
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By:0x76
Project Overview
Zkxprotocol (ZKX) is a perpetual contract DEX protocol with social attributes, deployed on the Starknet network. It aims to build DeFi solutions for everyone, combining the performance of CEX with the security of DEX. The protocol achieves this through a decentralized order book supported by the ZKX Appchain and user-centric self-custody ZKX accounts.
 
Zkxprotocol (ZKX): A Perpetual Contract DEX with Social Attributes image 0
Currently, ZKX offers two customized exchanges for different types of traders: 1. OG Trade for short-term and swing traders; 2. Pro Trade focuses on complex order types and API integration, serving institutional-level users.
 
The ZKX token is the governance token of the platform, unlocking governance rights through staking. Staked tokens can earn governance rights, USDC protocol revenue, and long-term community benefits.
The total supply of ZKX is 100,000,000 (100 million).
Token Utility:
- Application chain token of ZKX L3.
- Governance.
- Trading rewards: Utilizing the High-Tide algorithm to track trading volume, frequency, and consistency.
- 15% of the total supply is allocated to trading rewards, which will decay if traders stop using ZKX products.
- Staking rewards: Distributed in USDC, including 20% of trading fees and 10% of liquidations.
 
Market Cap Analysis
The ZKX project belongs to the on-chain DEX track, where the leaders include Uniswap, which focuses on spot SWAP, and DYDX, which focuses on perpetual contracts. The former currently has a market cap of approximately $6.8 billion, while the latter has a market cap of $1.1 billion, indicating a high market cap ceiling for this track. As a perpetual contract on-chain DEX with social attributes, ZKX's market cap after listing can be benchmarked against DYDX and similar projects. Additionally, the ZKX token IDO valuation is $50 million, which is relatively low, making its future performance worth watching.
 
Investment Background:
In April 2022, ZKX received funding from StarkWare (the parent company of Starknet). Subsequently, in July of the same year, it conducted a seed round of financing, totaling $4.5 million. Investors included StarkWare, HashKey Amber Group, Crypto.com, DragonFly Capital, and General Partner Ashwin Ramachandran.
Zkxprotocol (ZKX): A Perpetual Contract DEX with Social Attributes image 1
 
Related Links
Official Website: https://zkx.fi/blogs
X: https://zkx.fi/
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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