We're ready to unveil all details related to Perps V3
Introducing UniDex Perps V3: The 1st real perp aggregator is now back better than ever!
We introduced perp aggregation (routing) back in 2021 pulling from XVIX finance, Perpertual protocol, Gambit Finance, and GMX. We realized in mid 2022 that we could do much better and deliver something the market hasnt seen before.
Its finally coming back in a form thats going to completely change up how people trade on chain derivatives.
You'll be able to...
Place aggregated trades across 16 LPs
Instant Delta Neutral orders
Brand new interface designed speifically with aggregation in mind
Cross chain trading
Gasless orders
1-Click order support even on protocols that dont have it shipped yet!
and so much more π
Our own protocol is getting major face lifts to allowing...
Many QoL improvements such as fees taken from the position directly
Smart conditional orders that no one else will be providing
Extremely fast clearing house
Bi-Directional long and short fees balancing OI and encouraging scalps
Much safer pooling protections like Surge Fees, minority OI direction trade incentives, and pool fee compensation
Many new pooling options like ETH and WBTC vaults
We're also re-introducing a program we had back in 2021 called UniDex Forge. This will allow other platforms to jump start a Perp exchange powered by UniDex in under 1 hour! The best part is protocols can offer our native pools while in addition, create a pool that uses their native governance token as collateral! that means protocols can offer trading using their token adding extra utility and staking options for additional revenue.
We have a few protocols already ready to integrate and start their own frontend that you'll hear about very shortly (you know them very well!)
Trading will start again on the 21st at 20 UTC and old trades no longer need to worry about the migration. Community developers provided a very quick and effective solution to allow both old and new contracts to coexist without forcing old trades to close. If you have an old trade open from the previous contracts, you can keep them open for much longer!
Other features such as aggregation, gasless orders, certain exchanges, and so forth will be enabled in sequence to gain proper testing. We expect by the 1.5 months time enough feedback would be collected and addressed to have every feature enabled by then.
We encourage you to read over the whole article to get all the details π
https://mirror.xyz/unidexexchange.eth/VtEcdaL_juUnRGQXz43G3p2q_j-RiNBahaH9WqJmhfE
We've already made the initial tweet about it so lets all share and like to boost visibility of this massive upgrade!
https://twitter.com/UniDexFinance/status/1670932302430363648
We're also doing a post launch Q&A this friday in the discord. You can view the event time in the events tab in discord and quickly join using this link below
https://discord.gg/yNwJnMzCwD?event=1120168418671345726
This month UniDex has processed over $75,000,000 in volume in the month of October on Fantom & Optimism
More than $88,000 in protocol fees has been collected & we've also finished the 1st round of the perpetual trading competition π
Let's shoot for 100x and thank you UniDex traders! π₯
rewards for the trading comp are going out today & more info on the next trading comp so keep your eyes peeled for that
Lets give this tweet some activity too π
https://twitter.com/UniDexFinance/status/1589043581117149184
As we mentioned previously the UNIDX-ETH token LP migration will be taking place now!
This does not concern the platform but rather just the liquidity for the UNIDX-ETH pair.
20% will be moved to Optimism and the rest to ETH mainnet on UniV3
No action is required for holders!
Do note we account for 100% of the liquidity on spiritswap so we would advise against buying or selling on fantom and continue your activity on optimism for the same low fee swaps once the migration is finished
GM UniDex Community!
We'll be moving our governance and attention back to the ETH ecosystem starting with the mainnet & Optimism this Saturday.
What this means is that we'd be moving the bulk of our spirtswap UNIDX-ETH liquidity to the mainnet and 20% of that liquidity to Optimism.
Thanks to UniV3's advancements we can mirror the same liquidity which exists on the mainnet to make it economically feasible for smaller trades to happen on optimism without larger price impact.
We'll also be deploying the leverage trading protocol on Optimism with a liquidity mining program helping to grow some of that liquidity.
Fee rewards will now take place by default on Optimism however, the user will be able to choose between 4 networks (FTM, Arbitrum, OP, or Polygon) to receive their rewards. All the user needs to do is vote using snapshot on the weekly snapshot to set their target chain.
We do encourage users to read the full article which you can find here :point_down:
https://mirror.xyz/unidexexchange.eth/kvyzmhihCmN548d1xFlfLwIm-rh2iY9E_e5hBL3zF7Y
Remember, nothing needs to be done for the existing holders on all chains and this does not affect the leverage trading protocol on any chain either. If you are an FTM holder you can continue to be so forever, and you'll be able to get rewards on FTM just like always. However, our governance and liqudity will be moving to the ETH ecosystem with majority on the mainnet & a portion on Optimism.
GM UniDex traders π₯
We mentioned a bit earlier that we'd have a short medium article for the short term actions for this and next month. We come to deliver just that!
This medium article covers a small bit of information related to...
- Trading comps
- BSC & testnet zkEVM deployment
- Upcoming functionality like trailing stop losses and referrals
- More dates related to launches
Give it a read π https://unidexfinance.medium.com/trading-comps-new-functionality-and-more-1dcc70a8abce
While we're on the topic we're going to have 2 twitter spaces today at 14 UTC & 15 UTC π
(approx 3 hours from now & 6 hours for the metis one)
The first will be hosted on our side with @ArableProtocol on twitter & the second will be with the metis CEG group.
You can find that below hereπ
https://twitter.com/i/spaces/1ZkKzXBWwkWJv?s=20
Make sure you give that medium article a read! you might find something fun in there who knows.
We mark the end of UniDex 2.9 update and transition into UniDex v3 π«
The name of the game is decentralizing EVERYTHING from hosting, oracles, token payouts, server space, and so forth.
V2.9 Brings a few things going live today and the end of this month.
In short 2.9 offers
- Added BSC support
- zkSync compatible
- 500x leverage on forex
- 100x leverage on BTC & ETH
- 9 new trading pairs
To find more about V3 we suggest you look at the tweet to get a short preview π
We highly encourage you to read the twitter thread here outlining the recent update as part of 2.9 and a small tiny preview of V3
https://twitter.com/UniDexFinance/status/1577053502136012802
Hey everyone! We got a news update for everyone in the community.
To cut things short, ill drop a short summary here and the full link at the bottom.
1. Community content will be voted on here and users can find that in the #community-votingβ
channel on discord. ( thats discord.gg/unidex )
2. Metis LP promotion is live and nothing needs to be done for LPers. Simply provide and 100% of trading fees will be distributed to you. CEG is still pending as thats up to the Metis team entirely.
3. We want to run a similar promotion for Boba users but have a focus on traders and their PnL. Stay tuned for that as a vote is going live soon.
4. Limit orders are almost ready and we've highlighted how our limit orders are different from the rest. Initial audit testing still needs to be done which will be followed by a testnet release, and then finally the mainnet.
5. Ordersize limits will also go live but we want to inform the community again just how these will work compared to the current system.
6. Forex pairs will be increased to 500x leverage with a small adjustment on funding rates. This will also follow a number of other pairs being listed such as USD/JPY, EUR/GBP, and AUD/USD etc.
We do encourage you to read the full post however here π https://unidexfinance.medium.com/unidex-update-09-06-22-60b9e5957450
let us know what you think!
Hey traders! hope the week is treating you well β€οΈ
Now that we've successfully deployed on Metis we want to start making some moves into the ecosystem.
The first thing we'll be doing is seeding some liquidity with our first partner tethys finance! This will allow traders on metis to gain exposure to the UNIDX token. But we've also collaborated to bring some LP farms and lending markets to the UNIDX token!
We also have some other things planned but there is also a dao proposal with hermes https://commonwealth.im/hermes-omnichain/discussion/6828-hip3-whitelist-unidx-token-from-unidex. If this goes through, we would also be doing bribes and other protocol activity to build liquidity here.
Just a small intro to our first steps for the UNIDX token on metis. The we've talked with some market makers to seed liquidity on the metis side + pending metis CVP approval both of which will help boost liquidity for the leverage trading protocol.
But we believe we can increase activity through community efforts better by a new proposal. We started a vote which ends Sep 4th to run a 2 week program to direct 100% of trading fees on the metis side, to LPs on the protocol. This should allow some short term exposure on the metis side to jump start things.
View that here π https://snapshot.org/#/unidexapp.eth/proposal/0x64e5d43c021cc3d2c4d5808a25df5d764887bb1bcef96646777353ea564f5542
Thats all for now!
We're going to push an update to allow for people on metis to start pooling & trading pretty soon!
To start we're going to throttle utilization over the first few days before we set this factor back to ~ 1:1 just so liquidity can build up faster but still allow trades to be places without weird size limits.
We're going to provide 2 links for users once everything is up and ready with 1 stable build dedicated just for metis like in the past ( metis.unidex.exchange similar to the boba subdomain and fantom ), but the leverage.unidex.exchange will let you access all chains. Again we'll push another announcement once its up today and ill also be live streaming the deployment today at 18 UTC!
We also wanted to give a small sneak peak on how we redesigned our pool page with more information and more informative details on pool performance. We decided to go with an approach that will let you monitor your portfolio easily between all chains and see how performance has been at a glance, then select a pool for more dedicated info just like familiar analytics pages like uniswap info pages or yearn.
Let us know what you think!
Alright everyone its time for our monthly wrap up article!
This month we have soo much to cover like new trading mechanisms, projects building on top of UniDex, UI updates, and fun things like grant programs.
The article itself is quite lengthy but we did provide some quick graphics to sum up some sections / new additions.
Read it here β‘οΈ https://unidexfinance.medium.com/unidex-may-monthly-wrap-up-fd7019b8051
IF you want the TLDR its...
UniDex P/S Ratio: 2.07x
UniDex P/E Ratio: 3.04x
- Structured products are coming through various protocols / teams
- New mechanics like dynamic spread, slippage, and funding rates
- Much more refined Pool UI nearly finished
- Grant programs and other means when teams build on top of UniDex
- New aggregators for spot trading like openocean, kyber, and firebird
- Landing page overhaul with new animations set to be finished next week
- Docs overhaul
βββββ Tweet from UniDex Exchange (@UniDexFinance):
π Our leverage deployment for Boba is live! π
Poolers get @bobanetwork's WAGMIv3 incentive rewards while staying in the pool for extra APR π§βπΎ
Trading will start at 17:00 UTC but users can start pooling now with this link π
https://t.co/ysz6PZL2dk
#UniDex #Bobanetwork $UNIDX
[permalink]
Our Fantom foundation spotlight is up!
https://twitter.com/FantomFDN/status/1516465754517950470
send some energy to the post and support the cause where you can! β€οΈ
βββββ Tweet from UniDex Exchange (@UniDexFinance):
Lets spice things up with a meme contest π₯
Rules are simple...
1β£ Make and post your best creative content related to UniDex using the hashtag #UniDex & #UniDexMemeContest
2β£ You have until April 8th to submit π
The winner will get $200 of $UNIDX π€
Have fun & good luck!
[permalink]
Just a heads up we've temporarily increased the time required to be in the pool before you can withdraw and increased the withdraw fee so its harder to game the LP while TVL is low / lower diversity. This should make things more profitable for honest LPs and harder to achieve tricks or similar game theories when opening trades as an LP.
(this change is already live as of this post)
Alright just a quick update of the last few days ( gonna be long! )
First off you guys are crazy! $17,000,000 of volume in ~50 hours and I want to say on behalf the team. We're happy that everyone is loving the product so far. We're making sure to push updates as fast as we can to make sure everyone is having the best experience.
1. With that said our distribution of collected fees took place with the transactions found here
https://ftmscan.com/tx/0x148d60a6f58d6831af2f0203b78fbf4d6f4394e5bfec32097cccc1ceae6622e3
https://ftmscan.com/tx/0x7f3fd249d3bc3e0376dff2948ab0bbd33704b1e61a30924e49cb3212b4eaf8fa
it was a total of $6260 USDC which should be airdropped to all holders so check your wallet on fantom ( includes ETH holders )
2. We've wrapped up alot of the short term UI updates including a better leverage slider, better context on trades, more volume stats at the top, and pricing information.
Things are working alot faster now and so we'll be adding the original list of pairs with a vote on the next few pairs through twitter / here.
We need to have some faster nodes cause speed is a top priority for the relayers to pick up the transactions for settlement so thats what ill be working on tomorrow while others on the teamwork on the backend for better market making including building twaps for fantom native coins.
3. Since things are alot more reliable now we're gonna start pushing it alot more so we can really appreciate the community helping out tomorrow once we start pushing more on twitter.
heres one tweet for example that has gained alot of attention
https://twitter.com/UniDexFinance/status/1510070507714011142
^ FantomFdn retweeted
We're gonna do another community call focusing on education
We've effectively created something that transcends the likes of any other platform CEX or DEX. We want to make sure people understand what it is we're pushing out.
What are we building, what makes it a "ground breaking" platform, and what even are derivatives?
Time & Date β‘οΈ March 5th 22:00 UTC π
Dual Twitter space & YouTube
Twitter β‘οΈ https://twitter.com/UniDexFinance
YT β‘οΈ https://t.co/8Jop6vD51M
Lets have another community call / live stream!
This week we'll be talking a bit more on what relationships we founded at ETHDenver ( that list we gave was only about half ), Upcoming perpetual leverage platform limitations and strengths, plus more details on strategies that can be utilized on launch.
Topics being covered π
- ETHDenver follow up
- Leverage Platform
- Partners for launch & More
Time & Date β‘οΈ Feb 26th 22:00 UTC π
Discord β‘οΈ http://discord.gg/unidex
YT β‘οΈ https://t.co/8Jop6vD51M
π₯Weekly Wrap Upπ₯
_______________________
- As we mentioned the new URL to access the exchange will be
π https://app.unidex.exchange π
While https://unidexbeta.app/ still remains up, app.unidex.exchange be the latest version to access the dapp.
- ETHDenver: ETHDenver was a fantastic week / opportunity for the team to meet our integrators, upcoming integrators, and new partnerships formed. A few of those projects include shapeshift ( true OG's in the exchange space ), vega (a fantastic derivatives focused blockchain), harmony, metis, reef, thegraph, and just so much more. For those from ETHDenver that joined, we loved every part of the conversations and looking forward to the next ETHDenver / ETH hosted event.
- Limit Orders upgrade
A fast acting partnership from ETHDenver is already underway related to our limit orders! tomorrow we'll actually make some changes that should improve the order execution experience but may experience some delays in fills until the 23rd. Nothing needs to be done for already existing orders or future orders.
- 2 Upcoming podcasts with an AMA event in march
Looking to reveal more details once these 3 confirm dates and the speaker list. ( hint these both are big! )
- Leverage trading details
We're looking at names and to get the branding pushed out. We already had some suggestions but the community should also give their input on a name. Remember, this is a derivative product no single chain has, nor our launch chain FTM. The name should spark strength, resilience, and thought that lets you know this is king. Someone from Denver suggested scepter ( the kings staff ) as the base name followed by protocol, finance, exchange, etc.
We already have some partners for the leverage side for structured products similar to ribbon and dopex. Usually these exist for options but we have some good partners already cooking something fun. Probably nothing...
- Market update: Putin seems to be pushing and so I hope our Ukrainian users are able to stay safe during hard times. Indexs such as the SPX and NASDAQ seem to be taking a hit which bitcoin often correlates with. Hold strong lads the rough markets go away in a blink of an eye and the space isnt going anywhere, the terminal is still king, the markets still flourish for short and long opportunities.
As we mentioned the new URL to access the exchange will be
π https://app.unidex.exchange π
While https://unidexbeta.app/ still remains up, app.unidex.exchange be the latest version to access the dapp.
With that the new landing page will also go up through unidex.exchange as soon as DNS propagates ( based on your location/ISP and should be no later than today for everyone around the world )
For early users if you see a "site cant be reached" error or still see the old site just give it a few to complete the migration.
π₯Weekly Wrap Upπ₯
_______________________
- ETHDenver: This week, the Houston team is going to ETHDenver! If you're in the area and have a ticket to ETHDenver, the come stop by our area and meet the team. We'll be passing out some stickers to slap onto your laptops if thats your thing.
- TombSwap is now being aggregated π
Lets show the post with some love https://twitter.com/UniDexFinance/status/1493058482983030784 and start tagging some key players in the ecosystem. Maybe something deeper with tomb comes later π
- Fees: Our second fee distribution since the vote just took place π°
total of around $2,000,000 in volume with around $970 in revenue collected from swaps. We're making sure to include LP farmers which is an expected 60/40 split which will be in a separate TX once we follow up with our farm partners to collect that data (should be no later than today just waiting for thegraph subgraph to sync). Heres the TX for non LP farmers https://ftmscan.com/tx/0x6c3cdf3589d191c94a91a36cb2373b3ff67f9176643442d591d7a36e8bbc31b6
- Upcoming AMA this week on the 16th with one of our new partners ππ₯ more details on that very very soon.
- Leverage trading details were also released and our plans coming up. Read our last pinned message for an update on that but in summary we're settled on our 2 models releasing with 1 being on our regular UI and the other being flexible and on a separate UI. Some also seem extremely confused on the difference between derivatives vs spot leverage products. The quickest way is knowing margin trading ( andre's upcoming, apemode on spiritswap, market.xyz/tarot/geist on fantom, etc involves buying the asset on the spot market or borrowing it from a lending pool. Derivatives price things synthetically, 0 slippage trades, extremely high leverage on markets like forex (1000x), and in less words, just no bullshit.
- Market update: Looks like things are leaning on the downside with concerns from the FED, upcoming war, or really anything that sounds scary. Either way we're all here for the long run and you lucky holders have something that generates revenue as people short the market or long the market π
- Social media: we could use some help increasing the awareness of these past few posts so if the community can take a few mins to like and maybe share around twitter that would help tremendously.
Our OneRing partnership got alot of buzz so lets do the same again!
https://twitter.com/UniDexFinance/status/1493058482983030784
https://twitter.com/VargVemund/status/1491040769901498368
https://twitter.com/UniDexFinance/status/1491020064040304640
Time for an update post on Leverage trading!
Ill post this post into 3 different parts addressing them about how we're moving forward. It may be a long read for some but its worth the gold inside.
What even is our product?
We've been experimenting with the system our traders will interact with although it would more actually be worded as "benchmarking" the protocol. During our UniDex Labs update we mentioned the upcoming release of not just any perps, but exotic trading pairs. We mentioned we'd create an article going into more details but withheld until because weren't solidified on the actual design ( specifically the trading pool ). We're pretty solid on what models we want to use for both product areas ( blue chip & exotic ) so we'll actually get that pushed out after some slight content revision.
In short, our leverage trading model works in 2 ways, 1 model follows vAMM's to price and exit traders with chainlink price feeds (no orderbook), and the other for exotic pairs like ETHGasFees/USD will be backed through a pool similar to gains.network/cap.finance.
Another UI?
This idea was presented by a community member and it actually did have us consider the pros and cons. On one hand we love that users can just easily click a single button and immediately start swapping however, its hard to expand the trading interface without bloating the experience on our main app.
We're set on the idea of making the vAMM model on our main app while the other model on a new UI. We want to brand the image of this secondary terminal with another name given its something first to the market while still offering the same goodies the other players have. Naturally this will take time (no later than Q1 as we mentioned previously) but now that decisions have been made we're pretty happy about making a promising campaign to gain public attention about what we're building.
The new surprise stuff
Yesterday, a user had mentioned in our chat "save us" when referring to our future partners over at Cap.finance... its a great case of how actual real organic growth can lead to a vibrant community and proper utilization of the protocol (1 billion in volume over 3 months). However, for one reason or another, the main devs are now gone on either personal or other reasons. We spoke with some of the community leaders and even had a message with the last verbal dev.
We're going to be picking up where the devs left off help where we can for protentional future volume when we integrate it to our main app, but also our own touch branded under UniDex Labs. Itll serve as the base for our secondary terminal while still driving volume from the original protocol on our main app.
Summary
TLDR: we wanted to be 100% certain of our production release model before talking more about it, and now that we are you'll finally be seeing alot more content about them being laid out. There will be 2 interfaces to trade on with one of them being primarily for exotic pairs ( but not restricted to ) revived and repurposed from our partner Cap.
π¨ Urgent Reminder π¨
The unidexbeta.app domain will be repurposed on Monday!
Starting 02/13/22, our new updated domain for the dapp will be app.unidex.exchange as the new production link.
The old domain (unidexbeta.app) will continue to receive updates for 1 month until it will be restricted to holders of a special NFT minted through UNIDX which will then serve as VIP access to new features like gas free transactions, early access updates, and more.
Mark your calendars cause it's time for another #UniDex community call & live stream!
Topics being covered π
- Fantom Leverage π
- Cross-chain swaps β
- ETHDenver π«
Time & Date β‘οΈ Feb 4th 22:00 UTC π
Discord β‘οΈ http://discord.gg/unidex
YT β‘οΈ https://t.co/8Jop6vD51M
February's fee vote is now up for holders to vote
https://snapshot.org/#/unidexapp.eth/proposal/0xf4bfb9bbe78185e072abfedcc6dd8ed87a210c6e310149d5301462d45d707117
Some key points π½
Previous month stats: 7day weekly avg ~$250,000 peak ~$440,000
Current Stats: 7day weekly avg ~$500,000 peak ~$1,340,000
Total fees accumulated (monthly period): ~$18,200
Projected Monthly Volume: ~$20,000,000
Breakdown of things accomplished
Newspress ( upcoming release )
Conference Attendance/Sponsorship ( Ex: ETHDenver )
Targeted social media advertising
End date: Jan 30, 2022, 3:00 PM
This all started with an idea... To unite the fragmented DeFi ecosystem to provide a better experience for everyone in DeFi. Whether that be charting, trading, or even growing a community out of nothing.
Today the Houston, TX team has an official UniDex office! The team is ever expanding globally and locally here for the project and we decided to take this opportunity to remain lazer focused on our goal to unite the DeFi ecosystem. The Houston side has 5 people currently half dev half marketing and content creation and cant wait to deliver an exciting Q1 and 2022 for the UniDex community.
We cant possibly put into words how excited we currently are for this milestone and want to thank everyone once again for giving us a chance every step along the way.
2022 is going to be the year of UniDex!
We've been cooking up some stuff in the lab and made some secret additions and products for the ecosystem π
Introducing a new foundation called UniDex Labs
UniDex Labs is all about taking interesting concepts like auto compounding, leverage trading, and more. Then expanding its functionality to the upmost limit. Overall this allows UniDex to become the hub of capital efficiency and trader focused products
read more below π
https://unidexfinance.medium.com/introducing-unidex-labs-bf9f1bc24bcf
π UniDex crossed an ATH for daily traded volume π
With a final number of $1,241,000 this sets a new bar for us to cross πͺ
Most traded tokens include...
SCREAM
SPA
SPIRIT
ETH
Wen $2,000,000 daily volume? π
Let's make it happen β‘οΈ http://unidexbeta.app
Happy new year everyone! It just passed for most residents in the US but we hope everyone around the world had a cozy new year. Looking forward to the thing upcoming in 2022 and we cant thank you enough for sticking around throughout 2021 π
Hey UniDex traders! I hope everyone had a good Christmas holiday & weekend.
We've been a little quiet as we took some times to unwind and get with our families during the holiday's and were getting back to work. Some of the things we mentioned just a while before Christmas weekend.
To start off, a few changes you can expect this week is theming and a side navigational button ( where you'll be able to select themes and access other setting later )
I figured the community would want a short glimpse of just how much your personalization for YOUR trading terminal can extend to.
Aside from that we also had a short clip in our recent medium article of how the side bar would look which you can find here https://unidexfinance.medium.com/the-road-foward-moving-to-unidex-v2-19a98f1259ec
We're gonna try to add a few other things to the top navigation bar now that we have a settings side bar housing all settings like Gas information, quick portfolio usd value, and recent transactions like on uniswap.
We've been featured on the CryptoVineri show π₯³
Check out the interview / review here β¬οΈ
https://www.youtube.com/watch?v=3jSaruCNIsg
CryptoVineri has featured big guests like Vitalik and more. We had a lot of fun with the interview and encourage the community to check it out β€οΈ
Make sure to give them some love and spread the hype!