A leverage trading DEX supported by perpetual contracts in a virtual-AMM protocol. Matrix Labs is currently on 7 blockchain, launching Cardano support in 2022.
Matrixswap has incorporated a number of distinctive functionalities into its DEX which free it from the need for liquidity pools, allowing it to boast virtually infinite liquidity. This is down to the leverage based trading of its vAMM.
Matrixswap has integrated the DEX aggregator with 7 different EVM based chains with Cardano functionality slated for release in Q2 of 2022.
These contracts have no end-time and allow traders to speculate, i.e. long or short, on the value of the assets in question, until they either close their position or are liquidated.
When the margin ratio of a trader falls lower than the maintenance margin ratio, currently set at 6.25% but changeable through Matrixswap’s DAO, liquidation will be triggered. The agent who facilitates liquidation will earn 1.25% of the remaining. What is left is deposited into the insurance fund.
Matrixswap trading fees are 0.1%, and trading fees are taken both when a trader opens a position and when they close a position. 50% of trading fees go to the insurance fund and the other 50% are allocated toward:
Buyback and burning of the platforms MATRIX token
Trading competition prizes
On-chain referral fees
Emergency Nuke Button and DEX Aggregator
Matrixswap connects to high-volume DEXs from the three chains on which it operates to provide users with multiple sources of liquidity and the best prices for the assets they're looking to exchange.
Using the DEX aggregator users can swap multiple tokens in a single transaction, and the Emergency Nuke button allows users to covert all of their tokens into one type of token in one transaction.
MATRIX token holders can propose changes to, and vote on proposals, for the Matrixswap exchange. This feature will be phased in approximately 9 months after the launch of the platform.
Matrixswap Market Oracles
Matrixswap has its own time-weighted average price, TWAP, oracles which will be used alongside one other oracle to settle trader’s positions against each other every hour. To begin with only Matrixswap’s oracles and one other will be used, with others eventually being incorporated to increase security.