MJ.dime

[MJ.dime @mjtheblack]

Super detailed deep dive into the differentiating factors between perps dexes and how Paradex optimizes for each in this crowded space.

Worth a read whether you're interested in understanding Paradex or just perps dexes in general!

[Delphi Digital @Delphi_Digital]

Paradex (@paradex) delivers Binance-level spreads with zero trading fees

• Market makers pay for retail order flow
• Flow segmentation provide tighter spreads invisible to algorithms
• Paradex aims to reduce margin requirements by 80%

Read more here. 👇

[fiddy.dime - priv/acc 🦡 @fiddybps1]

https://t.co/6rI1JtfvFH

[Money Badgers @MoneyBadgersX]

This is the story of Dave

Welcome to that Money Badger life

gMoney

[MJ.dime @mjtheblack]

@paradex The chosen DEX

[MJ.dime @mjtheblack]

@Paradex_Eco PARADEXIO

[Crypto Vikings @CryptoVikings07]

Finally, We got the Perp DEX Trio

[Brother Lyskey 🥷 @Lyskey]

https://t.co/54zNOdgdZE

[Paradex @paradex]

Incident Post-Mortem - Oct 10-11**

What Happened
On `Oct 10-11`, extreme volatility and the subsequent flash crash led to a large number of concurrent liquidations on the platform in a short period of time. This led to a large, sudden accumulation of positions on the GigaLiquidator (GL). Typically the GL unwinds quickly, but severe on-chain transaction backlog slowed unwinds until chain max-position and event limits were hit, halting GL trading. As a result, subsequent GL trades were busted on-chain. Trade busts are rare, but when they occur, affected accounts temporarily enter resync mode to correct chain vs account state—during this period, impacted users couldn’t open/close positions. Busts also briefly worsened the backlog and created additional downstream contagion, thought it only affected a small number of users.

Immediate Response
We activated Cairo Native (live on Testnet for several months) which roughly doubled our throughput instantly and cleared the backlog within an hour. We then settled all Perp Options to shrink GL poisitions, after which the GL resumed normal operation. Given unexpected GL PnL moves from both correct and incorrect liquidations, we temporarily reserved GL PnL pending an audit to ensure fairness for both depositors and users. We reduced the TVL cap to pause new deposits and prevent opportunistic capture of the pending redistribution. BTC and ETH options were relisted soon after, and the platform returned to normal operation within a few hours.

It is worth noting that despite heavy chain congestion, the platform stayed operational and did not trigger socialized loss backstops. Paradex does not implement Auto-Deleveraging (ADL)—common on many CEXs/DEXs—because it breaks cross-platform hedges and adds unpredictability to risk management. In cross-margin systems, there’s also no guarantee of finding profitable ADL counterparties without amplifying liquidations. While not perfect, socialized loss is, in our view, the less harmful user experience. We’ll publish deeper design notes on Socialized Loss vs ADL soon.

Resolution
The GL audit was completed on Oct 14. We credited `$604,225.4`8 back to all Gigavault depositors—including those who had withdrawn and technically forfeited PnL—and allocated `$160,182.13` was reserved for incorrect liquidations, which has been distributed to affected users. The GV TVL cap has been restored to $60M with new deposits re-enabled, and options settlement fees were refunded given the short-notice delisting.

Following the learnings from the incident, we have optimized chain logic to support much higher position limits and optimized cloud-side position-limit checks to block trades before chain limits are hit, preventing trade busts. We also increased account-resync frequency for faster state convergence, and permanently enabled Cairo Native on-chain, delivering significant, sustained throughput improvements.

Final notes
Despite the scale of the contagion in the market, this was by and large a significantly less severe outcome for our users and the exchange. The platform remained operational and no socialized loss backstops were triggered. The scaling improvements we shipped quickly after the Sep 30 incident materially reduced congestion on Oct 10—proof that in crypto you must move fast and fix things; repeating the same mistake can be fatal.

Thank you to the community for the patience, feedback, and encouragement during the chaos. The culture we’re building together is special—and we feel it every time you show up for us ❤️

[Paradex @paradex]

We have increased $BNB leverage to 50x

It's BNB szn after all..

Start gambling with Zero Fees

👉 https://t.co/VCGea9ZakY

[MJ.dime @mjtheblack]

Wild to see both Paradex and Monaco on the same podcast

[A1 Research @a1research__]

Set you reminder here ↓

https://t.co/g2R3DAZ89z

[MJ.dime @mjtheblack]

@Starknet @KaitoAI @LayerZero_Core @StargateFinance

Wild to see everyone in SG

[MJ.dime @mjtheblack]

@KevinWSHPod Gud tech -> gud prices. Game changer for perps dexes

[Rob @noncesensicalll]

Your daily reminder that Paradex is the best place for retail to trade the majors for both small and larger tickets

Small Tickets

* BTC, ETH, SOL books will actually improve your price vs mid (due to crossed orderbooks enabled by RPI)

Large Tickets

* SOL - we are ~2-3x better than Binance, Bybit and Hyperliquid
* ETH - very competitive with over $200k two sided
* BTC - work in progress, but expecting significantly more size here within ~1 week

[MJ.dime @mjtheblack]

Onchain projects love dropping hyper-ambitious roadmaps, but few ship as quickly and reliably as @paradex

[fiddy.dime - priv/acc 🦡 @fiddybps1]

Bearish unlocks for $DIME 👇

+ Portfolio Margin
+ Interchain Transfers via Hyperlane
+ Multi-chain support for native Paradex tokens
+ Dated Options
+ Gigavault Options Strategies ~ 20-30% yield
+ Gold Perpetual Options
+ RFQ - @tradeparadigm integration
+ Spot / Perp Spreadbooks - @tradeparadigm intg..
+ Full Privacy
+ Spot
+ Spot VTFs (Vault Traded Funds)
+ XUSD (Yield bearing Stablecoin)
+ @MoneyBadgersX Launch
+ Mobile 3.0
+ Degen Mode (~Rollbit UI inspired)

impossible is nothing

[MJ.dime @mjtheblack]

As if using a DEX with better Liquidity, UX and community wasn't enough of an incentive..

[Paradex @paradex]

Vertex Traders Anonymous

We're reaching out to @vertex_protocol traders who need a fresh start. No judgment, just support. To get you back on your feet, we're offering:

• 50% taker fee discount (capped at $20M in taker volume)
• 2x XP boost on up to 5,000 XP earned

Duration / Eligibility:

• For the next two weeks starting Jul 14, 2025
• Vertex traders who made a deposit into the Vertex Endpoint contract (0xbbEE07...128e) between Jan 1, 2023 and Jul 11, 2025 are eligible. Sybil activity will be filtered out and excluded from participating in the campaign

👉 https://t.co/mxrtQG3yCa

[MJ.dime @mjtheblack]

Vault withdrawals now in USDC terms

Thanks @v4rvl for helping us make @paradex the best UX in the space

[MJ.dime @mjtheblack]

@halimaxxs @paradex Would love to help with this, please open a ticket on our discord

[MJ.dime @mjtheblack]

@mishraritz @paradex App is already available both on iOS and Android via the App Store and Play Store!

[Pyth Network 🔮 @PythNetwork]

Beyond the Price with Paradex https://t.co/JTp0NlKL5u

[Pyth Network 🔮 @PythNetwork]

Beyond The Price: Episode 8 🛋️

Special guest @fiddybps1 from @paradex will join us to yap about trading, building a SuperDEX and SuperChain, and leak tons of alpha. You don’t want to miss this!

Tomorrow (10 AM UTC) live on X and YouTube ▶️