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The DeFi space has been abuzz with the launch of QuickPerps: Falkor, the Polygon DeFi suite’s latest cutting-edge perpetual exchange. Right from its May 23 launch, users from the Polygon ecosystem and beyond have flocked to Falkor, and have brought substantial capital with them as well. Thanks to QuickSwap’s on-chain data analytics tools, the numbers are in place to prove that the hype around QuickPerps: Falkor is not merely a social trend. In just its first week post-launch, Falkor onboarded more than 5,100 new users and generated nearly $14 million in trading volume. Falkor’s remarkable performance not only speaks for the platform’s cutting-edge features and the growing market demand for sophisticated perpetual trading tools on Polygon PoS, but also points to a major market trend on the horizon.
Setting the Standard for Perpetual Contracts
Without a doubt, QuickPerps: Falkor has set a new standard in Web3’s ever-popular perpetuals sector with a host of impressive features. One feature that stands out in particular is the platform’s near-instant transactions and zero-gas trades. With the support of Polygon’s unrivaled scalability stack and integration of Orderly Network’s permissionless liquidity layer, QuickPerps users can execute their trades at optimal price points without the burden of high gas fees or latency – a common pain point in the DeFi space, and an especially common one in its perpetuals sector.
Another key feature QuickPerps: Falkor brings to table comes from its commitment to security and user experience. The platform eliminates the need for bridging, allowing Polygon users to deposit funds directly into the platform’s vault. Such a streamlined deposit mechanism not only enhances the overall security of the platform, but also simplifies the onboarding process for new users and traders.
What makes QuickPerps: Falkor’s launch particularly noteworthy is its impressive array of supported assets. The platform already offers perpetual contracts for 37 blue-chip digital assets, including industry heavyweights such as Bitcoin (BTC), Ethereum (ETH), and Polygon’s MATIC, as well as popular favorites Dogecoin (DOGE), Avalanche (AVAX), XRP, Arbitrum (ARB), Near (NEAR), and Chainlink (LINK). For traders looking to make the most of their capital, Falkor supports up to 50x leverage – an impressive figure in its own right.
Gauging the Market: The Meaning of Falkor’s Success
The rapid growth and trading volume recorded in QuickPerps: Falkor’s first week of operations is not exclusively a product of the platform’s cutting-edge features and high-performance engine. Traders tend to seek out leverage when they believe volatile times are approaching. With the Ethereum ETF kicking into gear and pundits from Web3 and traditional finance alike promoting decentralized technologies, the Web3 market is poised for a major run. More often than not, rising volume in the perpetuals sector is a strong indicator of rising bullish sentiment in the broader market. With its impressive first-week statistics and a rapidly growing user base, QuickPerps: Falkor is well on its way to becoming the go-to destination for traders seeking to capitalize on the ever-evolving Web3 market’s next big move.
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