The next Hyperliquid-level opportunity edgeX.
#edgeX In the past few days, I've seen a lot about the backpack anti-reward situation. This time, let's talk about edgeX, the first Perp DEX funded by a stablecoin issuer, which is now live on Binance's Pre-Future, with a stable price between 0.65 and 0.75. The TGE is on March 31, while Backpack is facing a lot of criticism.
Some important information
1. Investment from Circle, native support for USDC; Amber's incubated Perp DEX is an important layout for Amber's market makers in the Perp DEX space.
2. The Pre-future price is stable at 0.65-0.75, with current revenue second only to hyperliquid. About half of the funds in the treasury will be used for buybacks, and commodity trading is comparable to Hyperliquid, with gold trading volume even exceeding that of Hyperliquid, indicating institutional-level players are trading on the platform, which also signifies institutional trust in edgeX.
3. Amber's focus on incubation means a strong supplement of liquidity from market makers, not data-driven.
4. Trading costs are on par with CEX, and scaling is evident, with Amber making significant efforts here.
——————————————
Personal musings
1. This can be understood as Circle seizing a share of the future high-frequency settlement of stablecoins.
2. The financing background is extremely clean, indicating that participant sell pressure is very controllable.
3. Professional market makers mean stable liquidity.
4. Currently, the FDV is 680 million USD, and the first buyback will directly showcase the prospects of the native token.