what's paradex?
Paradex is a high-performance decentralized exchange (DEX) specializing in perpetual futures trading, built on a Starknet Appchain to provide scalability, liquidity, and privacy. It offers zero-fee trading for retail users on over 100 perpetual markets, with features like Retail Price Improvement (RPI) to protect retail traders from high-frequency bots by segmenting order books. Powered by the $DIME token, Paradex aims to unify liquidity, performance, and institutional-grade privacy in on-chain finance. The platform supports seamless trading via web and mobile interfaces, with recent milestones including $100B lifetime volume and integrations for various assets.
Paradex crosses $400M in lifetime deposits.
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x.com/tradeparadexCrosses $400M in lifetime deposits.
Launched TradFi perpetuals for silver, platinum, oil, natural gas, and euro with 24/7 availability.
Integrated with Arbital, an automated market making strategy platform that enables users to set up volume, long/short, and other trading strategies.
Paradigm acquired 14M+ DIME tokens (5.5% circulating, 1.4% total supply) through open market purchases ending March 18, 2026. Including DIME Assistance Fund, total DIME bought back reached 16M since TGE.
Paradex is listed as one of eight supported exchanges in the ritmex-bot hackathon project, which enables AI agents to execute trading operations including price queries, order placement, and position management.
Paradigm periodically acquires DIME tokens, committing to ongoing Paradex support.
Increased market share during 2026, contributing to Hyperliquid's volume share decline from 66% to 18%, operating as a pre-TGE protocol with infrastructure-level privacy features alongside Hyperliquid, Lighter, Aster, EdgeX, and ApeX.
Implements ZK privacy technology as a structural requirement for trading operations.
Trades at a fully diluted valuation of $40 million.
Recorded approximately $276M in 24-hour trading volume.
Recorded $137M in total value locked (TVL).
Directed $31,462.76 of net protocol revenue to DIME buybacks for Assistance Fund after TGE, with DIME trading at $0.04.
Executed a chain rollback in January 2026 after a pricing glitch showed BTC at $0 during maintenance, causing mass liquidations before funds were restored.
Re-locked 80% of team tokens to public performance milestones and $DIME allocations, with Paradigm committing to longer-term locks and contractual prohibitions on derivative hedging.
Built on Ethereum as the underlying blockchain infrastructure despite market pressure during Solana's surge in 2022-2023.
launched Spot Trading feature
ended Season 2 XP and launched Season 3
added chart trading feature
Hiring Senior Data Engineer with salary $130K-$250K, Singapore or remote.
Executed trades with 2-5% slippage during the October 10th crypto crash without triggering any Auto-Deleveraging (ADL) events.
Airdrop claim for 25% of 1 billion $DIME supply to XP holders with no vesting. 21.6% allocated to ongoing rewards, 25.1% to core contributors with 80% performance-based vesting over 4 years.
Season 2 allocation increased from 15% to 20% of total supply, with 5% allocated to Season 1 and 20% to Season 2.
Achieved cumulative trading volume exceeding $210 billion.
TVL reached approximately $200 million.
Open Interest surpassed $600 million, previously recorded at $541M.
Listed among Starknet ecosystem protocols offering funding-rate arbitrage across Extended/Paradex trading venues.
Recorded the largest single liquidation order in the past 24 hours on BTC-USD-PERP market valued at $4.82 million.
Rolled back chain to block 1,604,710, force-cancelled open orders due to database error, with speculation of another TGE attempt.
Has approximately $7.34 billion in combined 24-hour open interest alongside other platforms (Aster, Lighter, Variational, edgeX) as of January 19, 2026.
Predicted to struggle to retain users, revenue, and volume following its TGE.
CEO @fiddybps1 appeared on the Clear Crypto Podcast hosted by @NathanOnCrypto and @gazza_jenks to discuss Paradex as a privacy perpetual DEX.
Scheduled $DIME TGE for Q1 2026 alongside Extended project.
Ranks 8th among perpetual DEXs by open interest, distributes 4 million XP weekly every Friday based on trading volume, position duration, new listing activity, vault TVL, and liquidations.
Open Interest reaches $387M with a Volume to OI ratio of 2.27, maintaining lead over competitors Variational ($322M OI), Extended ($72M OI), and Pacifica ($63M OI).
Platform seizes $218,922 from a user and labels the user an exploiter.
V2 upgrade launches with improvements to chain infrastructure, trading UI, and core systems for high-throughput decentralized exchange operations.
Improved Starknet's proving technology, reducing latency to sub-second position updates, boosting throughput, and lowering costs.
Open interest exceeds combined total of Extended, Pacifica, and dYdX. Farming program continues 3 months with 15% XP boost for referrals, supported by algorithmic trading tools Tread and Planemo, with Tread offering a +50% XP boost.
Partnership with Trezor hardware wallet company confirmed in podcast episode featuring Trezor CEO discussing the company's collaborations.
Released private alpha of first dated options, operating on-chain with over $2B daily options volume.
Cross-chain USDC deposits now supported from five blockchains (Arbitrum, Base, Ethereum, Solana, Starknet) through Hyperlane integration.
Platform generates $19M in annualized revenue while charging zero fees to users through a payment for order flow model.
A team member is accused of operating an OTC point sales operation through a dark pool Discord with undisclosed pricing, allegedly selling points at 35% premium to market value while the team publicly supported the activity.
S-two next-generation prover will soon replace Stone across Paradex, delivering faster and cheaper proofs with massive scale improvements.
XP transfer limit increases to 50% of Season 2 rewards, and XP becomes tradeable on OTC markets.
Traders reaching 25,000 XP auto-qualify for future Money Badger Box drops.
New XP Calculator tool goes live, allowing traders to estimate XP point value at upcoming Token Generation Event.
Launched DIME utility token, with XP points converting to $DIME; 4 million XP distributed weekly to traders. Eliminates all trading fees.
XP points now transferable between users as new feature goes live.
The current period marks the final opportunity to receive 20-30% bonus XP distributions according to Discord communications.
Integration with EVFARM automated trading platform now live, allowing parallel bot operations compatible with Lighter and Pacifica.
Platform processes approximately $1B in daily trading volume on its Starknet appchain. Three of the top 10 perpetual exchanges run on STARK-tech: Paradex, Extended, and EdgeX.
Rescheduled Token Generation Event to March 2026 with a fully diluted valuation of $55 million. Launched $DIME token on March 5, 2026; airdrop and claim begins 2026-03-05, TGE 2026-03-02 to 2026-03-08, including an extra 15% XP boost. Launched $DIME airdrop claim exclusively on Paradex.
Platform distributes 4M XP every Friday to traders, with approximately 800 XP earned per $1M in trading volume based on factors including trading activity, position holding duration, trading on new listings, TVL in vaults, and liquidations. Last week's distribution reached 11,411 wallets.
Platform airdrops tokens to FTX creditors to provide extra recovery beyond bankruptcy payouts.
TGE scheduled for February, allowing users to accumulate points.
XP Transfers feature launches on Mainnet, enabling users to transfer XP between wallets and consolidate XP from multiple accounts.
Platform currently offers zero trading fees as a promotional feature and processes 10x less trading volume than competitor Lighter.
Platform offers +10% XP boost.
Confirmed TGE timeline for Q4 2025 or early Q1 2026 with 20% token supply for airdrop. Expanding to offer spot trading, RWA perpetuals, options, and lending/borrowing services.
Paradex achieved $34B in trading volume over the past 30 days, ranking third among Starknet-powered perpetual DEXes which collectively reached $249.3B in volume during the same period.
Platform included in a list of major upcoming Token Generation Events (TGEs).
Paradex participates in CLOB Season Finale Twitter Space on October 24 at 12:00 UTC alongside MonacoOnSei, bulletxyz, and reisnertobias to discuss lessons from the October 10 liquidation crash, execution rules, privacy models, and post-points economy design.
Paradex implements advance liquidation warning system with direct community communication to inform users at risk of liquidation before positions are closed. The platform partners with content creator on sponsored awareness campaign following recent crypto flash crash. (Tweet IDs: 1981406999452758150)
4 out of 10 top Perpetual DEXs by 24h volume are built on Starknet technology, including Paradex alongside EdgeX, Apex, and Extended, according to DefiLlama data.
Paradex ranks 9th for highest smart follower growth over the last 2 days among 30 tracked projects, according to @_dexuai data.
revealed its Money Badgers NFT collection
EVplusAI adds Paradex to their Funding Rates Data and will integrate into EVFARM bot next week.
A1 Research and GSR publish a 50+ page report on CLOB infrastructure wars, highlighting Paradex as one of five leading protocols achieving sub-second finality and CEX-level performance on Starknet architecture. Paradex ranks #3 in industry observer's top 5 perpetual DEXes list.
Platform implements zero-fee trading model for retail (zero maker/taker fees) with market makers paying fractional access fees. Current metrics show $100M TVL, $30B+ monthly perps volume, $22M annualized revenue across 15+ chains with 13.7K monthly users, backed by Paradigm.
Kaito earn campaign launches with $29M in 24h volume driven by referral XP campaign offering 10% bonus XP plus $DIME rewards. Platform credits total $764K to users ($604K to Gigavault depositors, $160K for incorrect liquidations) following Oct 10-11 market crisis where the platform maintained operations with no socialized losses or ADL triggers.
Money Badgers Campaign launches through partnership collaboration, offering airdrop opportunities for participants creating content and memes.
Development underway on automated yield strategy platform that will handle known strategies including dats and bgt protocols, with extra farming rewards currently available to accelerate points accumulation.
TGE scheduled for 4.5 months from early April 2025, placing the token generation event around August-September 2025. Platform offers a 20% points booster program for users through referral access.
Season 2 XP campaign allocates 15% of total $DIME supply to participants, representing a 10% increase from Season 1's allocation.
MoneyBadgersX campaign announced as coming soon with a 10K NFT collection and accompanying memecoin launch. Open interest halved due to temporary delisting of perp options, while current 24-hour volume sits just under $1B.
Platform remained fully operational and executed cleanly during extreme market volatility that liquidated over $19B across markets and caused other venues to experience lags and liquidity failures.
Development of DimeVM execution environment confirmed alongside implementation of a zero-fee PFOF (payment-for-order-flow) model to attract retail users.
Platform confirmed as one of the top 5 perpetual DEXes industry-wide, with the top 5 collectively processing $38B in 24-hour volume and over $663B in 30-day volume.
Current season participation has dropped to 11.5k wallets, a significant decrease from the approximately 35k participants reported in early October.
A 20% token airdrop allocation is confirmed with TGE expected between Q4 2025 and early Q1 2026.
XUSD, an upcoming delta-neutral stablecoin backed by vaults, is in development alongside privacy features like offchain matching and RPC masking with future ZKP implementation.
Monthly trading volume reaches $20B while Season 2 airdrop campaign continues with approximately 35k participants and 4 months remaining in the farming period.
Development is underway on an RPI system that protects retail traders from market maker liquidity withdrawal during order placement, generating revenue by charging market makers to access order flow while maintaining a no-fee model for retail users.
Orbiter integration launches offering $obt rewards for users who bridge and deposit into the platform.
Competitor Pacifica Fi is positioned to flip Paradex within 24 hours according to trader predictions, representing new competitive pressure from a Solana-based platform.
WSH announces collaboration to launch a biweekly content series with the platform, while institutional Request-For-Quote (RFQ) rails are being rolled out for larger and more complex orders targeting institutional traders.
Platform experiences significant volume surge with 7-day averages up 80%+, though concerns emerge about potential wash trading practices according to BNB Chain dashboard analysis.
Paradex ranks among the top 5 perpetual DEX protocols with fastest-growing mindshare over the past week according to Dexu AI data.
30-day volume reaches $9.22B, surpassing dYdX's $7.82B and showing significant growth from July's $4.39B volume.
Trade paradex included in upcoming Hyperliquid season 2 airdrops targeting traders and LPs with zero perps trading fees.
The team launches perpetual options, a new product featuring time-based liquidation instead of price-based liquidation, targeting institutional-grade products for retail users.
Zero-fee trading platform goes live with phased rollout: SOL currently active, 74 markets including Neiro, Sei, Kaito, XMR launching Wednesday, and major BTC/ETH pairs next week.
Introduces Badger Brawl trading competition with $100K reward pool and 400K XP distributed over 4-week period.
New TGE launches with farming opportunities and targeted airdrops for FTX creditors; DEX confirms founding team comprises FTX creditors.
Funding rate arbitrage opportunity presents 681% APR on FET through long/short positions between exchanges.
New $500,000 bug bounty program launches for protocol security testing.
New Rhino Bridge-as-a-Service integration enables instant stablecoin liquidity across 35 chains.
Processes $4.39B in July perpetuals volume, holding 1.32% DEX market share behind Hyperliquid and dYdX.
Invite-only security program completes with $45K in rewards paid to top researchers.