FXDX Launching on Optimism with $10bn Target After Unmatched $400m Volume on Algorand; In Partnership with Router Protocol
Tortola, British Virgin Islands, 22nd February 2023, ZEXPRWIRE, FXDX, a decentralized on-chain derivative exchange, has announced that it is expanding to Optimism, a leading layer 2 scaling solution for Ethereum as part of its multi-chain expansion strategy. The move is expected to significantly increase the platform’s trading volume and total value locked (TVL).
FXDX has already made a significant impact on the market, achieving a total trading volume of over $400 million since its Algorand dApp launch on July 2022. The platform became the biggest dApp on Algorand by volumes since the inception of Algorand Mainnet, and one of the fastest-growing decentralized futures exchanges in the market.
The partnership with Router Protocol will allow FXDX to offer a wider range of trading options and assets to its users, as well as connect with other networks and protocols. The bridge provided by Router Protocol will enable seamless bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
FXDX offers 50x leverage on Bitcoin and Ethereum at low transactional cost, zero price impact, and least slippage. The platform is committed to providing a secure and seamless trading experience for its users and aims to become the go-to platform for decentralized derivative trading.
“As we continue to expand to new chains, we remain dedicated to our mission of providing users with a secure and seamless trading experience,” said Harish D. Gupta, co-founder and CEO of FXDX. “Our launch on Optimism and partnership with Router Protocol will allow us to offer our users access to a wider range of trading options and assets. We believe that this move will further establish FXDX as a leader in the decentralized derivative trading space, and we are excited to see what the future holds for our platform.”
Aly Madhavji, Managing Partner of Blockchain Founders Fund, a leading VC Fund that backs FXDX said, “We are proud to support FXDX’s launch on Optimism. FXDX has demonstrated its ability to rapidly grow in a competitive market, and we believe that their innovative approach to decentralized derivative trading will continue to attract users. We look forward to seeing FXDX’s continued success.”
With its upcoming launch on Optimism and the partnership with Router Protocol, FXDX is well-positioned to further establish its position in the market. As FXDX continues to push the boundaries of decentralized finance, the platform remains committed to staying ahead of the curve and providing its users with innovative trading solutions. With its multi-chain expansion strategy and strong partnerships, FXDX is poised for continued success in the years to come.
FXDX is a decentralized derivative exchange which previously launched on Algorand and adding EVM chains now as part of multi-chain expansion starting with Optimism. FXDX offers 50x leverage on Bitcoin, Ethereum, Ripple, among others, at low transactional cost, zero price impact and least slippage and will offer Bitcoin and Ethereum, to start with, at Optimism Launch.
Router Protocol is building a suite of cross-chain liquidity infrastructure primitives that aim to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
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