Published via Ecency

1. Project Overview

What is the PARADEX?

PARADEX is a decentralized perpetual exchange built to provide fast, secure, and self-custodial trading of perpetual contracts. It operates on a Layer 2 blockchain, ensuring low fees, efficient liquidity, and superior trading performance.

Why PARADEX is important?

Paradex addresses the growing demand for decentralized finance (DeFi) solutions after the collapse of centralized exchanges like FTX. It combines the reliability of traditional finance with the transparency and security of DeFi, making it a robust option for modern traders

2. Team & Backers

Who’s behind PARADEX?

Key Team Member:
Anand Gomes: Cofounder & CEO at Paradex, Paradigm.

Key Backers:
Paradigm, Jump Capital, Dragonfly Capital, Digital Currency Group, many other leading crypto investors,

3. Technology & Features

What’s the tech stack?

Paradex is a decentralized perpetual exchange (DEX) that leverages advanced technologies to provide a seamless and efficient trading experience. Its tech stack includes:

Layer 2 Integration
Appchain Architecture
Cairo Programming Language
Self-Custodial Design
On-Chain Risk Engine
High-Performance Infrastructure

This robust tech stack positions Paradex as a leading platform in the decentralized finance (DeFi) space, offering users a secure, efficient, and user-friendly environment for perpetual futures trading.

Key features of Paradex

User-Friendly Interface
Advanced Vaults
Referral Program
XP Point Program

4. What is the XP Points Program?

What is XP Point?
Xperience Points (XP) are the new universal metric for measuring and rewarding user engagement on Paradex. XP isn’t just a number it’s a quantitative system for rewarding every contribution, big or small, to the Paradex ecosystem.

How can we earn XP Points?

Fee XP → Pay trading fees
Maker XP → Add liquidity
Open Interest XP → Keep trading positions open
Vault XP → Deposit into Vaults
TVL XP → Deposit collateral
Community XP → Trade actively, refer friends, use new features, publish community research, share alpha, and be active in Discord.

5. Step to get started with Paradex?

Steps:
1️⃣. Go to Paradex: https://app.paradex.trade/r/minnowtraders

2️⃣. Connect wallet: You can choose EVM Wallet or Starknet.

3️⃣. After connecting the wallet it will ask to Generate a Paradex Chain wallet & Click on Continue & sign 2 transactions, Now you have successfully generated a wallet.

4️⃣. Now Create Your Public Username: Set any username you want & click on save.

5️⃣. Connect social accounts: Now go to settings by clicking on the address on the right top, Now you can see the option to connect your Twitter (X) account & Discord connect both. It will help the team to eliminate Sybil & fairly distribute the XP points.

6️⃣. Deposit fund: Now click on the Deposit option at the right top. You have to select the chain and then enter the amount. Now you have two bridge options to bridge funds to the Paradex Chain wallet one is RhinoFi & the other is Layerswap you can choose as per your wish. (Layerswap has low fees) After bridging you have successfully deposited the funds.

You can now Trade in more than 80 markets or deposit funds into the Vaults for a high APR interest of around 50% in the protocol vault. There is also the option of Vault-Traded Funds and user Vaults, but you can choose according to your risk tolerance.

Join Discord: https://discord.gg/paradex
Follow on Twitter (X): https://x.com/tradeparadex

Different activities you can follow to earn XP:

Organic Trading, Vault Deposits, Collateral Deposit
Community XP for referring friends, using new features sharing content related to Paradex & activity in Discord.

6. Project roadmap