CVP Proposal: zkDX - A Derivative Protocol Of L2 Networks

Approved CVP
1

zkDX is a decentralized derivatives exchange of liquidity mode built on L2 networks, which supports the trading of crypto perpetual futures, foreign currency, stocks, and various innovative financial derivatives. With a range of cutting-edge and innovative features, zkDX offers superior security, exceptional liquidity, low transaction fees, and a wide selection of leveraged trading products.

In the meantime, zkDX integrates LayerZero technology to build an Omnichain Aggregator of derivative trading, to concentrate the liquidity from different L2 networks to form predominant liquidity, and provides seamless trading experience for users regardless of which network their assets are on.

The vision of zkDX is to become the main derivatives exchange within the industry, providing the most real and impressive value capture, and generating sustainable revenue through market actions.

Core Features And Advantages:
Risk grading: Classifying liquidity pool based on the risk evaluation of the trading assets. Trading assets of different risk grading correspond to LPs with different risk grading to serve as their counterparts in trading.
• Mitigates the risk of liquidity pools due to different trading assets
• Provides users with various risk preferences

Hedging and Insurance mechanism: Provide external hedging and insurance mechanisms for traders and LPs
• Mitigate the risks for traders and liquidity providers, enhance the safety of their funds, ensure the sustainability of trading activities, and protect them during extreme market conditions.

Omnichain Aggregator: Enable seamless trading and liquidity circulation cross various L2/L1 networks based on the Omnichain technology of LayerZero.
• Empowers users with seamless trading capabilities on various L2/L1 networks
• Accumulates liquidity from various L2/L1 networks to build a deepest liquidity pool. This leads to optimal trading depth and captures the value across the entire network.

Hybrid oracle: A price feed mechanism that combines multiple mainstream oracles and optimizes price volatility buffering.
• Maximizes the possibility of avoiding oracle attacks

Tokenomics: Fair, fun, and user-centric, with benefits given to the users.
• A token distribution mechanism that embodies the spirit of Fair-Launch.
• Tokenomics that integrate decentralized governance, PoW - where more tokens are obtained based on various contribution, and PoS - where more tokens are obtained by various staking methods, incorporating the respective spirits and advantages of each.
• User-oriented mode of value capture allocates majority of profits to traders and LPs

How Metis benefits:
User: Provide excellent derivative trading services for Metis community users
Asset: Create derivative trading pairs for assets of Metis and its ecosystem
TVL: Create higher TVL for Metis DeFi ecosystem
Ecosystem: Collaborating with Metis DeFi projects to create a more prosperous Metis ecosystem

Documentation
Docs

Website
zkdx

Social Media
Linktree

Secure
We have chosen Zokyo as our security partner, and the audit report will be released before the official launch of derivative trading on Metis. Before that, zkDX will only enable trading in tUSDT mode.
tUSDC is a test token that users can obtain for free, allowing them to experience zkDX with only gas fees and without any risk of loss.

7 Likes
2

The integration of LayerZero technology to build an Omnichain Aggregator of derivative trading, concentrating liquidity from different L2 networks, is a bullish move.

zkDX, good project!!!

1 Like
3

The vision of the project is mind blowing. Aiming to become the main derivative exchange within the industry is something to highly anticipate.

A quick one, since you have chosen Zokyo as a security partner, what are the steps that Zokyo will employ to ensure a risk free trading for users.

4

I love the project’s concept. Furthermore, I think that the partnership with Metis and the user-centric tokenomics will help pave the way for a seamless trading future.

5

I am personally impressed with zkDX decentralized derivatives exchange, featuring diverse trading options from crypto perpetual futures to foreign currency and stocks. This versatility caters to a wide range of investor preferences, creating a dynamic and inclusive trading environment. Definitely rooting for zkDX.

6

zkDX is setting some high standards for decentralized derivatives exchanges! The Omnichain Aggregator and risk grading system seem promising, especially in enhancing trading experiences. The focus on user benefits and collaborating with Metis for a stronger ecosystem is impressive.

7

Hi @zkdxtrade
Nice proposal, how I wish you added some metrics to the proposal. Nevertheless, I have these questions for you…

  1. What are the backgrounds and experiences of the core team? I was unable to find any information about it in your Docs or your website.
  2. Can you explain more about the specific hedging and insurance mechanism(s) you’re using?
8

I like the part of Hedging and insurance mechanism, that means our portfolios are shielded from unfavourable market fluctuations. Interesting! Great one zkDx!

9

Really glad to see what zkDX decentralized derivatives exchange has to offer, with this proposal put in place, I think it will foster the trading of crypto perpetual futures, foreign currency, stocks, and various innovative financial derivatives.

10

I can’t wait for this proposal to be given a greenlight. Integrating zkDX on Metis introduces advanced derivative trading for users, creates new trading pairs, boosts TVL, and fosters a stronger DeFi ecosystem, enhancing opportunities and security for Metis community members. So for me, I think having all this incorporated this is a win -win.

Let’s get zkDX on Metis asap! :relieved:

1 Like
11

Anticipating zkDX’s integration of LayerZero technology to create an Omnichain Aggregator for derivative trading, promising a seamless user experience across various networks. This marks an exceptional innovation in the trading Market.

12

I like the concept of zkDX.

Is there an incentives program or model for users?

13

ZkDX sounds like a project that benefits traders in many ways.

What i like most about zkDX is the tokenomics, and the insurance mechanism for traders giving traders a safe trading environment.

But what time line would audit report be ready for derivative trading to be launched on metis?

14

This is really impressive, I can clearly see that zkDX is taking decentralized derivatives exchanges to a better place! Their Omnichain Aggregator and risk grading system are super promising for better trading experiences, no doubt new traders will benefits from it

15

believe zkDX is here to contribute value to Metis without a doubt. but would love to know if there would be any incentive program??