TOP 3 Potential Perp DEX For Trading And Airdrop Hunting

After the collapse of FTX as well as recent legal troubles related to Binance, Crypto users have become increasingly concerned about using the services of centralized exchanges (CEX). In the opposite direction, decentralized onchain products are developing very quickly and becoming more friendly to users who are already familiar with CEX. Among those products, Perp Dex – a decentralized derivatives exchange is becoming increasingly popular.

Perp DEX allows individuals to trade directly through popular non-custodial wallets such as Metamask or OKX wallet without having to deposit funds to an intermediary third party, thereby making all activities more transparent and safer when reducing Minimize capital risks by not having to trust a centralized exchange. That is also the reason why Perp DEX is gradually replacing CEX exchanges to become the number 1 choice for traders.

Previously, HAK Research had a detailed analysis of the Top 4 potential Perp Dex exchanges to invest in. In this article, we will find out TOP 3 potential Perp Dex for trading and Airdrop hunting . Through my practical experiences on each floor.

Vertex Protocol

Vertex Protocol is essentially a Hub with many different DeFi products such as Lending/Borrowing, Spot Trading, and derivative leverage trading developed on Arbitrum. Vertex Protocol raised $8.5M in seed round from Hack VC, GSR, Dexterity Capital,…

Currently, Vertex is having the program “Trading and receiving $VRTX token rewards” – claimed in October this year. Specifically, you can trade whether Perp or Spot incurs fees, the amount of fees will be converted into the corresponding amount of $VRTX tokens at each epoch (28 days).

In this article, I will focus on trading Perp on Vertex, first the advantages of Vertex from the perspective of personal experience:

• Familiar orderbook interface, easy to use
• Sufficient leverage x20
• Fast speed, relatively low transaction fees
• Display command information clearly
• The 1-click-trading feature eliminates the need to sign. The wallet provides a similar experience to CEX

Besides the above advantages, Vertex still has points to improve, one of which is the SL setting feature – a must-have tool for risk management for every trader. In the project discord, it was also announced that Stop Order will soon be added which can be used simultaneously to replace SL.

Due to using the Hybrid Orderbook model combined with AMM along with the trading volume on Vertex at the beginning after launch, it was not thick enough, so if you place a large order, you will need to wait a long time for it to be matched. In addition, when there are strong fluctuations, the price on Vertex will also deviate greatly from the market and the spread will also have a certain stretch, causing unforeseen losses for open orders.

Currently, Vertex does not have its own app on the phone, so people will have to operate through the browser on compatible wallets like Metamask, which is quite inconvenient and difficult to operate. This can also be a small minus.

Personal rating: 7/10 – Suitable for Day Trader + Airdrop hunting and not recommended to leave orders overnight due to no SL.

Trade and make Airdrop Vertex

Holdstation DeFutures

Holdstation DeFutures is a Perp Dex platform developed on the zkSync Era ecosystem. Holdstation uses the Oracle Based model with many similarities to Gains Network but is improved through the application of two technologies: Flexible Market Making (FMM) & Dynamic Price Feed (DPF), thereby helping to optimize funding fees and reduce Minimize the risk of virtual price scanning when the market fluctuates strongly for traders.

Similar to Vertex, Holdstation has confirmed the airdrop 15% tokens $HOLD administrators of the project, those who add LP Vault will receive HST Credit (bonus points to convert to $HOLD tokens), and for trading, they will receive GOLD points to convert directly to fiat & Stablecoin later. In addition, trading on Holdstation also helps users participate in the zkSync Era airdrop.

Here are the things I like about trading with Holdstation Defutures:

• Simple interface, easy to open, close and manage trading order parameters.
• Diverse trading products from Crypto, Forex and Commodities.
• High leverage up to x150 Crypto, x250 Gold and x500 Forex.
• Prices are relatively stable and do not fluctuate.
• The phone app has good UI/UX design and is integrated with Holdstation wallet to help be proactive in the transaction process.
• Trade FREE gas with volume > $5000 thanks to integration with zkSync’s Paymaster feature.

Besides the above advantages, you also need to keep in mind a few small points such as when LPs at DeFutures Vault will need to wait 20 days (4 epochs) from the time of requesting a withdrawal until receiving the money. In addition, the current order opening/closing fee on DeFutures is 0.08% Crypto, 0.05% commodity and 0.008% Forex, so you need to consider carefully if placing a large volume order.

Personal rating: 7.5/10 – Suitable for trading with moderate volume, convenient with phone App and 2 in 1 when plowing airdrops on zkSync.

Trade and make Airdrop Holdstation DeFutures

SynFutures

SynFutures is a synthetic asset Perp DEX exchange often referred to as Uniswap for Futures. SynFutures developed in 2021 on the Polygon ecosystem recently expanded to zkSync Era. This Perp DEX raised a total of $15.5M from many large VCs such as Polychain, Framework, Pantera Capital, Bybit, Wintermute, CMS, Kronos and IOSG Ventures.

Currently, SynFutures v2 just launched in the middle of this year with many positive changes. According to some rumored information, the exchange will be able to airdrop to users including traders, people listing trading tokens and NFT Futures in Q4 of this year.

Among the Perp Dex I do retroactively, SynFutures is the exchange I trade the least on, although based on the fund raising this could be a huge airdrop. The reason is because SynFuture has a relatively difficult UX for users. In addition, trading products on SynFuture are relatively limited with 8 trading pairs (4 are common) along with a modest x10 leverage. Finally, the transaction fee is relatively high ~ 1% for each order I make.

Personal rating: 3.5/10 – Only suitable for Airdrop farming

In addition to the above Top 3 potential Perp Dex for trading and Airdrop hunting, there are also a number of other projects such as Rage Trade & RabitX that are in the process of their experience. In the near future, I will continue to add more for everyone to refer to.