Picture a world where the traditional rules of the game don’t bind cryptocurrency trading. This is where perpetual decentralized exchanges (PDEXs) come into play, a relatively new kid on the block in the grand scheme of DeFi. The market is constantly changing, and perpetual DEXs have been a game-changer, growing their market cap beyond $2 billion. But it’s not been a walk in the park.
Despite their innovative approach, these platforms have been nudging for space in a market heavily dominated by CEXs. It’s like David versus Goliath – with perpetual DEXs holding around 3% of the total trading volume, they’ve got their work cut out for them.
The challenge isn’t just about size; it’s about technology too. Building a sandcastle with a teaspoon is difficult – that’s how perpetual DEXs have sometimes felt with their on-chain order books facing off against the sleeker, more streamlined CEXs. But every David has his slingshot. For perpetual DEXs, it’s the untapped potential in a market craving innovation and decentralization.
There is where Swych PDEX struts onto the stage. In a world where GMX and dYdX have been making waves, Swych PDEX isn’t just following the trend; it’s aiming to set a new one. Think of it as a blend of ambition and technology, gearing up to ride the wave of how leveraged trading should be. It’s not just about joining the race; it’s about redefining it.
In the end, it’s about changing the game – and Swych is here to play.
Introducing Swych PDEX
Swych’s perpetual DEX focuses on risk management and innovative mechanics, tailored for both beginners and expert traders.
Key Insights:
· Clean interface and is user-friendly.
· Fully integrated TradingView chart.
· Tradable assets include BTC, ETH, and BNB.
· Ability to set take profit and/or stop loss when entering a trade.
· Ability to set take profit and/or stop loss after entering a trade.
· Ability to add/remove collateral while in a trade.
· Full position, order, and trade history details.
· Mobile access.
· Paper Trading mode with live pricing data.
· Market and Limit orders.
· PnL is the Net PnL, so what you see is what you get.
Clean Interface and User-Friendly
Swych PDEX is designed with simplicity at its core, ensuring a smooth and intuitive trading experience. This user-friendly approach lowers the barrier to entry for new traders and streamlines the process for experienced users, making the platform accessible to a broad audience.
Fully Integrated TradingView Chart
The platform features a fully integrated TradingView chart, offering comprehensive tools for market analysis. This customization enables traders to tailor their analytical approach, adapting the chart to fit their trading styles and preferences.
Tradable Assets
Swych PDEX will initially support BTC, ETH, and BNB, offering a diverse range of trading options. This variety caters to different investment strategies and preferences, with plans to expand the asset list further in the future.
Setting Take Profit and Stop Loss
Traders are allowed to set take profit (TP) and stop loss (SL) orders both at the time of entering a trade and after the trade is already open. This flexibility in managing trades is important for effective risk management and strategy implementation.
Dynamic Collateral Management
Traders can add or remove collateral while trade is active, providing enhanced control over their trading positions and risk exposure.
Comprehensive Trading Information
Swych PDEX provides detailed information on positions, orders, and trade history. This transparent environment is to make informed decisions, review trading strategies, and track market performance accordingly.
Mobile Compatibility
Recognizing the need for trading on the go, Swych PDEX offers a mobile-friendly interface. This feature ensures that users can manage their trades and stay connected to the market anytime.
Paper Trading Platform
The paper trading feature with live pricing data is ideal for practice and strategy development, especially for new traders or simply those who wish to test the waters. It allows traders to simulate real-market trading without financial risk, making it an invaluable tool for learning and experimentation.
Order Types
Supporting both market and limit orders, the platform accommodates a variety of trading strategies. This flexibility allows traders to execute trades based on their market expectations and risk appetite.
Transparent PnL Reporting
The platform shows PnL as Net PnL, providing a clear and honest view of a trade’s outcome, after accounting for any fees. Traders can see the actual fees before opening a trade and see the fees while the trade is open.
