Following three years of development by Wall Street veterans, Leverj recently launched the first high-speed decentralized derivatives exchange, which provides spot and futures trading of cryptocurrencies. Today, DeFi Exchange Leverj.io and liquidity providers are announcing the launch of Futures products (Perpetual Swaps) for Bitcoin and Ethereum against USDt on Leverj, bringing DeFi derivatives to market for the first time. Bitcoin and Ethereum perpetual contracts against stablecoin DAI are already live.
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Over the past 12 months, the DeFi ecosystem has grown exponentially, with the growth rate of trading volumes on decentralized exchanges (DEX) far outpacing centralized exchanges (CEX). In September 2020 trading volumes across DEXes grew by 121%. In the same month trading volumes on CEXes shrank, dropping by 51%.
Leverj builds off this trend by introducing a non-custodial, decentralized exchange which offers spot and futures trading, and aims to minimize some of the challenges associated with DeFi today.
“Both retail and institutional traders are tired of the counterparty risk of centralized exchanges,” said Fran Strajnar, CEO of Techemy Capital. “Until recently, this was the only choice. Uniswap showed the world how instant swaps can work in a simple yet non-custodial way. Leverj.io is the first derivatives exchange to crack the self-custody problem. This is a significant piece of the DeFi ‘money lego’ stack.”
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Launched by former traders and engineers from J.P. Morgan and Goldman Sachs, Leverj is designed to perform like a traditional financial exchange while maintaining the critical functions of privacy and security and allowing users to maintain custody of their assets through the entirety of the trade lifecycle.
With the whole DeFi industry demanding faster clearing, lower network fees, and general scalability, Leverj is the first application built on the advanced Gluon.Network protocol, an Ethereum scalability solution engineered specifically for high-frequency decentralized derivatives trading.
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