Tanisha Kohli
Tanisha Kohli
19 February 2024
5 min read

PRO Trade is Now Live on Starknet Mainnet

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Meet ZKX Pro Trade

OG Trade was nice, but we know you want an advanced trading terminal. By popular demand, we have decided to drop the Pro Trade experience ahead of time 🍗

< Think of it as Bloomberg for Degens>

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With Pro Trade, we expand the range of sophisticated trading with complex order types and API integration designed specifically for advanced traders, whales and prop trading firms.

Now, there are many PERP DEXs in the market but what makes us different? The answer is in the next section 👇

Our Architecture 🏗️

In the world of DeFi, arbitrary gas costs, scalability issues, and fragmented liquidity have long been obstacles. However, these challenges become significant barriers while building a DEX. To tackle them head-on, we've developed our own Appchain, Self-Custodial Account, and Bridge, Starkway.

Beginning with the ZKX Appchain, we realized that having a dedicated blockchain infrastructure for the protocol would be the most effective long-term solution. Powered by Substrate and adapted for Starknet ZK-Rollup, our Appchain enables gasless trading, a single order book, and transparency. A public block scanner will be released in future releases to enhance transparency.

While the ZKX Account utilizes Starknet's account abstraction for secure fund custody and margin management, the appchain provides the scalability and speed necessary for a derivatives order book. Plus, our native bridge, Starkway, ensures transfer from Ethereum to Starknet for quick deposit & withdrawals.

That's on our architecture and how we're delivering on trading perps decentralized.

Our long-term game? The appchain, initially deployed on Starknet, aims for future integration across multiple L1s and rollups, promising compatibility, composability, and high throughput while simplifying the DeFi experience and offering a low-fee environment.

Now, Pro Trade offers various features that cater to traders' needs. Let's break them down in the next section 👇

1. UI: Customizable, Intuitive and Familiar

CEXs have their own set of problems, but they definitely have nailed the UI. ZKX aims to meet these standards, ensuring users can trade instinctively and comfortably according to their expertise. To achieve this, we offer two UI options: Standard, and Advanced.

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2. Market and Limit Orders Types

In leverage trading, higher risks demand stricter risk management and timely execution capabilities.

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Multiple types of limit orders to suit your strategy: -

  1. Limit
  2. Market
  3. Take Profit Limit
  4. Take Profit Market
  5. Stop Loss Limit
  6. Stop Loss Market

You can track the history of your trades either in the history or order page, where all executed and pending orders are visible.

3. Price Feeds

To keep prices fair and tamper resistant, we are aggregating price feeds from a multitude of CEXs like Binance, OKX and Coinbase. The price feeds are updated from CEXs at sub-second rate.

The ZKX Appchain has its own oracle built into the node client, called Data Provider Service (DPS). Common oracles like Chainlink are also used as a backstop in the price calculation.

You can check how the price feed is calculated here.

4. High-Performance APIs

Automated traders contribute the most liquidity to markets, making their process easier via API.

You can check the Web Socket and REST API endpoints documentation here.

5. Markets

Pro Trade is live with three markets: ETH, SOL, and BTC, offering up to 20x leverage and will soon include the listing of $STRK in February. Later in the year, the DAO governance implementation will allow permissionless market listing, significantly expanding Pro Trade's market offerings.

6. Cross Margin Mechanism

At ZKX, our liquidation price differs from the market price. Instead, we rely on a more secure option from our Data Provider Service (Internal Oracle within the appchain) which aggregates prices from multiple CEXs. This approach reduces volatility and minimizes fluctuations, ensuring a safer experience for our users.

Cross Margin Account - As a Trader, you have the flexibility to trade using a single trading account on Pro Trade, utilizing the Cross-Margin mechanism for your trading strategies.

The benefits include:

• Capital efficiency
• Lower risk of liquidation on positions
• Ability to compound profits easily

Isolated Margin - You can create multiple trading accounts and isolate your trades per market or strategy in each account. This setup ensures that any liquidation will not affect your other positions or accounts, providing greater risk management control. Isolated Margin will be live in future releases.

The benefits include:

• Improved risk management
• Boosted portfolio flexibility

Check out liquidation and margin details here.

Rewards

At ZKX, your performance matches the rewards. You can earn locked $ZKX tokens through the following ways-

  1. Trading on Pro Trade makes users eligible for Airdrop 2.0, which includes 12.1 million $ZKX tokens (out of 15% designated for Token Community launch). Eligibility criteria will be available in March.

  2. Trading Incentives: 7 million $ZKX tokens from Trading Incentives (18% of total supply) are allocated to bootstrap the DEX during the mainnet launch. A majority of this allocation is distributed to OG Trade through the Profit, Volume, and Loss leaderboards.

In terms of timeline, Airdrop 2 will be followed by token listing. We are actively discussing with major CEXs for the $ZKX token listing. More details will be shared prior to the listing.

Users will also have the chance to earn $STRK tokens through the DeFi Spring Program by Starknet Foundation.

The DeFi committee will distribute $40M STRK tokens for the next six to eight months on a fortnightly basis. These $STRK tokens will be used to incentivize users who trade on ZKX, starting 28th March.

What’s Ahead in Product Roadmap 🌅

ZKX is always building, with big plans for the future. Our aim? To make this your new perp trading home 😎

The team has been hard at work to ensure that happens. Here’s what’s coming up-

Feature Updates -

  1. Market and Rewards pages
  2. Share your trades on social media in 1-click
  3. Advanced order type functionalities (Kill or Fill etc.)
  4. 4 upcoming new perp listings
  5. Introduction of Isolated vs Cross Margin Trading

Product Updates -

  1. $ZKX Staking
  2. Referral URL Feature
  3. Social Trading and Pools
  4. High Tide algorithm for liquidity incentives
  5. ZKX Appchain Block Scanner

Like what you have read about Pro Trade? There's plenty more in the pipeline. We've been transparently building over the past two years, weathering the usual highs and lows. We just want to take a minute to acknowledge the support of our community. Meanwhile, jump on our Discord or Telegram to contribute, discuss, and share feedback. We're all ears.

Now, to end the blog, a wise man once said:

This is the Age of Bulls, Don't Sleep on it. 🐂