A leveraged trading DEX backed by perpetual contracts in the virtual AMM protocol. Matrix Labs Now On 7 Blockchains, Launching Cardano Support
When a trader's margin falls below maintenance margin, currently set at 6.25% but subject to change via Matrixswap's DAO, liquidation is triggered. The agent assisting the liquidation will earn 1.25% of the remaining amount. The rest is deposited in the insurance fund.
The Matrixswap transaction fee is 0.1% and the transaction fee is charged both when a trader opens a position and when he or she closes a position. 50% of the transaction fee is transferred to the insurance fund and the remaining 50% is allocated to:
Buyback and burn the platform's MATRIX tokens
Trading Contest Prize
On-chain referral fee
Urgent Nuke Button and DEX Aggregate
Matrixswap connects to high volume DEXs from the three chains it operates on to provide users with multiple sources of liquidity and the best prices for the assets they are looking to exchange.
Using a DEX aggregator, users can swap multiple tokens in a single transaction, and the emergency Nuke node allows users to convert all their tokens into one type of token in a single transaction. .
MATRIX token holders can propose changes and vote on proposals to the Matrixswap exchange. This feature will be rolled out approximately 9 months after the launch of the platform.
Market oracle Matrixswap
Matrixswap has its own time-weighted average price, TWAP, oracles that will be used in conjunction with another oracle to settle traders' positions against each other every hour. To begin with, only Matrixswap oracles and one other will be used, with the others eventually being combined for added security.