DUBAI, United Arab Emirates, May 17, 2024–(BUSINESS WIRE)–LogX, the multi-chain decentralized exchange (DEX) with over $13 billion in trading volume, backed by top VCs like IOSG, Hashed, Coinbase, and Sequoia, as well as leading angels from companies such as Polygon and Robinhood, announced plans on Friday to launch the first modular derivatives trading layer built for Infinite scalability across all blockchain networks. The network is designed to bring millions of users to derivative trading on-chain built in collaboration with industry leaders like Arbitrum, Eigenlayer, Hyperlane and Altlayer.
LogX’s Network aims to scale derivatives trading infinitely
LogX is expanding its horizon with the launch of the LogX Network, a new network layer purpose-built for derivatives trading. This strategic move comes after LogX surpassed $13 billion in trading volume and attracted over 155,000 traders across 12 blockchain networks. The platform aims to solve the fragmented liquidity problem in the blockchain space and lack of high-quality trading experience due to nascent infrastructure.
LogX plans to utilize the Arbitrum Orbit stack, Hyperlane, Eigenlayer, and Altlayer network, enabling the platform to process transactions at a speed of over 20,000 transactions per second with a block time of less than 100 milliseconds. LogX believes that the infrastructure of the LogX Network positions LogX to launch a perp dex to any new network within two days, including Bitcoin Layer 2 networks, while providing a seamless centralized exchange-like trading experience.
“LogX Network’s architecture will make derivatives trading scale 100x from the current level while optimising on capital efficiency and trading experience,” Akshit Bordia, LogX’s Co-founder said in a statement.
LogX’s announcement highlights that it empowers LogX to encompass an extensive array of trading possibilities, such as perpetuals, spots, and exotic markets, while also granting developers the liberty to launch perp dexes using their network. The debut of the LogX Network is expected to take place soon with their testnet launch.
About LogX:
LogX is a leading perpetual trading exchange for emerging layer 2 networks backed by some of the most prominent Venture firms like IOSG, Sequoia, Hashed Emergent, Coinbase Ventures and Saison Capital. LogX has crossed more than $13.5B in trading volume and 155,000 users while garnering a community of 200k+ folks since its launch.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240517603599/en/
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