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Apr 07, 2024
Ecosystem Spotlight
Ecosystem Spotlight: LogX, Trailblazing the Onchain Perps Revolution
by Orderly Network
Ecosystem Spotlight: LogX, Trailblazing the Onchain Perps Revolution

LogX is the most intelligent Orderbook perp dex with AI-driven trading agents and risk management. LogX is the first perp dex in DeFi to supercharge trading with AI-based automations. It operates a sophisticated Orderbook model that ensures ultra-fast trade executions, tightest spreads, and unparalleled liquidity, alongside a robust, institutional-grade API suite designed to facilitate algorithmic trading.

LogX started as an aggregator of perp DEXes on the Arbitrum mainnet aggregating liquidity across GMX and MUX protocols, eventually proceeding to add Gains, Hyperliquid, and Orderly Network as the various sources of liquidity spanning across 150+ trading pairs.

After several experimentations and talking to thousands of traders, LogX identified two primary trader segments: pro traders desiring orderbook functionality and tools, and those seeking a simpler UX for multi-chain exploration.

Behold – LogX Pro – the brain-child of a fusion of Orderly’s omnichain liquidity layer and LogX's pursuit of an innovative onchain trading experience for pro traders.

LogX screen.jpeg.png

LogX Pro is an orderbook DEX powered by Orderly Network’s omnichain liquidity layer and our on-chain trading infrastructure that enables seamless trading across major EVM chains. LogX Pro offers lightning-fast execution, deep liquidity, and multichain deposit while maintaining top-notch asset security, full transparency, a seamless UX similar to CEX, and a permissionless onchain trading experience.

Speaking on the launch of LogX Pro, we asked Anshu, Co-Founder, LogX, “Why did it become necessary for LogX to build out a dedicated perps orderbook protocol?”

“While developing our initial LogX product, we conducted numerous experiments and engaged in discussions with thousands of traders. These interactions revealed that the needs of professional traders significantly differ from those of users interested in exploring various chains and networks. Professional traders demand advanced tools, minimal latency, high liquidity, and access to numerous markets. To meet these specific requirements, we realized the necessity of creating a dedicated product tailored for professional traders.”

The dream had come full circle and the integration with Orderly became a landmark moment in the platform’s evolution for pro traders.

Boasting ultra-fast order matching, sub 25-milliseconds latency, tighter spreads leveraging our deep omnichain liquidity, cross-margin support, advanced order types, omnichain deposits, and an institutional-grade API stack, LogX has garnered more than 7 billion dollars in total trading volume, hit more than $100m average daily trading volume, and 110k+ pro traders – again, in a relatively short time.

Still speaking to Anshu, we asked “What do you think has contributed hugely to the tremendous feedback post-integration with Orderly?“

“I believe our obsession with creating the finest product for traders has been beneficial. A seamless user interface, coupled with the robust liquidity provided by Orderly Network, has ensured an unparalleled trading experience for users.”

Emerging as one of the fastest-evolving futures trading platforms, LogX is set to launch its token ($LOGX) in the coming months, dedicating 12% of its 1 billion total supply to airdrop activities, dropping 3 million $LOGX tokens weekly.

Want a share of that? See how to join in on the action here

Observing LogX’s trading interface, you can hardly tell its difference from a CEX-powered trading interface but you get to trade permissionless, fully decentralized, and across chains with asset self-custody maintained.

We tried to get Anshu to spill some alpha (yes, we always got you in mind) “So when can we expect the $LOGX TGE and what should holders be most excited about?”

“ Haha, the details on TGE will be revealed soon but I can say it is near for sure! Meanwhile we have a program running where we are dropping 3M $LOGX tokens on a weekly basis to traders for activities on LogX till the token launch.”

Well we failed there but we got more alpha of our own.

LogX and Orderly have an ongoing trading showdown on Galxe where you can win USDC, rare Royalty NFTs, and $LOGX tokens. So go join in there and get yourself a piece of the pie pre-TGE; https://galxe.com/logx/campaign/GCiFutTMu4

You can trade seamlessly on LogX Pro across all chains currently supported by the Orderly Network.

What are you waiting for? Go explore LogX Pro (https://pro.logx.trade/) and bag yourself some rewards while at it.

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