Business News Report
January 30, 2024

ZKX Launches ‘OG Trade’ on Starknet to Ease Crypto Trading and DeFi Experiences

ZKX Launches 'OG Trade' on Starknet to Ease Crypto Trading and DeFi Experiences

DeFi platform ZKX launched OG Trade, a gamified perpetual swap exchange on Starknet – a zero-knowledge rollup. It is designed for traders who engage in short-term trading strategies, including scalping (making small profits from frequent trades) and swing trading (taking advantage of short- to medium-term price fluctuations). Additionally, it adds game-like features to make trading interesting.

Eduard Jubany Tur, founder at ZKX told Metaverse Post that traders can participate in 30-minute competitions where they battle it out for $ZKX rewards ideal for the world of short-attention spans we live in. 

“To grow during the mainnet launch campaign, we created the Clans NFTs, which seasoned DeFi traders and DAO contributors from the Ethereum community can claim and have a fun headstart with a goal of attracting more DeFi users and drawing a wider audience to Starknet,” said Eduard Jubany Tur.

Talking about the importance of the ZXK Appchain in scaling gasless DeFi products effectively, Eduard Jubany Tur explained that the technology addresses the challenges of high-speed DeFi products within Layer 2 (L2) environments, where scaling computations at a reasonable cost remains a hurdle.

The ZKX Appchain, a dedicated public blockchain layer, offers a solution by scaling the orderbook and providing gasless DeFi features to users trading within the Ethereum ecosystem. Retail users face issues including unpredictable gas costs, long transaction waiting times, and other on-chain challenges which often lead them to opt for centralized exchanges (CEXs) instead.

“By pairing the scalability of the ZKX Appchain, the built-in wallet with account abstraction and the gamification of OG Trade, we can make an attractive proposition to these CEX users,” said ZKX’s Eduard Jubany Tur.

The company did its first testnet in 2023 and learned that relying solely on smart contracts to scale the protocol was not working. Performing computation for algorithmic functions and orderbooks on-chain is a known problem. This realization led them to understand the importance of having a standalone infrastructure capable of independent scaling while remaining integrated with the broader Starknet and Ethereum ecosystem. This learning played a big role in shaping the development and features of OG Trade.

Simplifying DeFi Trading with OG Trade

OG Trade aims to simplify the complex world of DeFi. By offering a fun and gamified experience, the platform seeks to appeal to everyday crypto enthusiasts, particularly those in regions like Asia, the Middle East and Africa.

“To achieve this, OG Trade minimizes complex features, avoids technical jargon, and adopts a user-friendly approach to create a more accessible and engaging DeFi experience. This makes it easier for newcomers to do crypto trading,” ZKX’s Eduard Jubany Tur told Metaverse Post.

Additionally, ZKX introduces Clans, Profit, Volume and Loss Badges to enhance the trading environment on OG Trade. Eduard Jubany Tur added that these elements inject a sense of competition and community-driven interaction, unlike the static trading experiences found in traditional platforms.

He mentioned that ZKX’s future plans include the release of Pro Trading, a product tailored for advanced traders. Pro Trading will cater to experienced traders, whales and prop trading firms.

With features such as APIs suitable for high-speed trading strategies, Pro Trading expands beyond the typical centralized exchange (CEX) experience. Hence, the new platform aims to become a one-stop DeFi solution, catering to both casual users and advanced traders while maintaining a unified order book across different user interfaces.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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