Introduction

It’s been nearly one month since Paradex came out of stealth mode and announced to the world our ambitions to build a new high performance derivatives DEX. One that would blend the performance, liquidity and capital efficiency of CeFi with the self-custody, transparency and community led ethos of DeFi.

The team has been busy at work since then, and today we’re thrilled to share that we have launched a Closed Beta version of Paradex on Mainnet!

Starting with this post, we’ll begin updating the Paradex community continuously on key product milestones as we approach the public launch and thereafter. Stay tuned!

‍

✅ Internal Testnet

This milestone allowed basic trading of ETH perpetual futures on our StarkNet Appchain in a test environment. The key features of this milestone were:

• Orderbook & Matching Engine
• Margining System (starting with cross margin)
• Continuous Funding Rate Mechanism
• GUI and APIs
• Deposits / Withdrawals (L1 <> L2)
• Fees (starting with fixed maker / taker fees)
• Robust Mark Price
• Oracle Price Integration
• Liquidations
• Advanced TradingView charts
• Insurance Fund Unwind Algorithm

‍

✅ Closed Beta Mainnet

This milestone, achieved today, opens up ETH perpetual futures trading on mainnet to a closed group of initial users. We plan to remain in closed Beta for several months while we battle test the system in a live environment, iron out remaining bugs and improve the user experience. We plan to focus on a few key optimizations and enhancements during this period including:

• Optimizing cloud and chain synchronization
• Adding additional wallet support (e.g. Wallet Connect)
• Adding additional markets (BTC perpetual futures) BTC/USD Chart on TradingView

‍

✅ Public Testnet — September 2023

This milestone will open up our v1 testnet to the broader public. Our testnet is currently open to a select group of early Paradex community members (check out our Discord to learn more about accessing testnet). Key features for the milestone include:

• Streamlined Auto Deposit (test funds)
• Improved UI / UX

We look forward to engaging more deeply with the growing Paradex community once everyone can test and provide feedback about the platform and trading experience!

‍

Open Beta Mainnet Launch — Q4 2023

Once we’ve battle tested Paradex with the closed group of users, we’ll begin adding additional perpetual markets and open up Beta mainnet to everyone!

‍

Looking Forward

As you can see above, we have a robust roadmap in place as we march towards an open Beta mainnet launch of Paradex.

We are thrilled about the progress we’ve made to date, and look forward to sharing more updates on our evolving roadmap in the future.

Follow us on Twitter, join our Discord and subscribe to this blog for the latest developments. Check out the Paradex website and documentation to learn more!

Thank you for being a part of our journey.

Best regards,

The Paradex Team