At DX25, we're forging a new frontier in DeFi, merging the worlds of AMM Spot DEX and derivatives trading into a single, powerful platform on MultiversX. Open the DeFi wormhole and join us on this revolutionary journey.

Our Journey to DX25 Excellence

At DX25, we're committed to delivering excellence in decentralized trading. Our journey began in October 2022 when we embarked on the development of DX25 AMM Spot DEX. Since then, we've achieved significant milestones:

May 3, 2023:
DX25 Spot DEX Devnet Launch
October 17, 2023:
DX25 Spot DEX Mainnet Launch
Q3 2024:
DX25 Derivatives Platform Devnet Launch
Q4 2024:
DX25 Derivatives Platform Mainnet Launch
The development of a derivatives platform depends on the results of the Launchpad or other sources of funding
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Merging the Worlds

DX25 bridges the gap between two essential elements of the trading world: AMM Spot DEX and Futures & Options Trading Platform for Crypto and Commodities. By uniting these worlds, we offer you a seamless and powerful trading experience that leverages the strengths of both.

Unlocking Liquidity with Spot DEX

Concentrated Liquidity

Concentrated Liquidity Positions revolutionize the way you approach liquidity provision. Say goodbye to scattering your assets across all price ranges. With DX25's innovative approach, you wield precise control by specifying a particular price range for your assets. The result? The potential for higher returns like never before.

Single-Sided Liquidity

Unlock the power of Single-Sided Liquidity (SSL) and participate in liquidity provision with unparalleled simplicity. Perfect for those holding a single asset, SSL empowers you to engage in liquidity pools effortlessly. Your one-sided contribution remains dormant until the spot price aligns with your chosen range. It's simplicity, accessibility, and efficiency in one powerful feature.

Multiple Fee Levels

DX25 empowers you, the liquidity provider, with unparalleled flexibility. Choose from eight distinct fee levels, ranging from 0.01% to 1.28%. Each fee level operates as an independent subpool, sporting its unique spot price dynamics driven by supply and demand. Take control of your fee strategy and amplify your success on your terms.

The Future of Derivatives Trading

DX25 is your gateway to a new era in finance. As a decentralized derivatives platform for crypto and commodities, it's more than trading—it's opportunity. With a focus on risk management, DX25 provides access to diverse assets and derivative products, empowering you to seize new possibilities.
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Up to 1155x leverage

At DX25, you have the opportunity to trade with up to 1155x leverage, magnifying your market exposure.

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Imagine this

You go long $500 worth of Dec 23 Bitcoin Futures. Let’s assume margin calculation requires a reservation of $50 of collateral (initial margin)*. This is locked in your collateral pool Effective leverage 10X

* Margin calculation actually based on VaR calculation, but this is a useful approximation

You add a short position of $500 worth of Dec 23 Ethereum Futures. The 2-year historical correlation for these market is 83%. Assume that the margin calculation for the Ethereum   is $50.The collateral requirement is reduced by the correlated position. Margin requirement is $8.50. Effective leverage for this simple portfolio 117X
You go long $500 worth of Dec 23 Bitcoin   Futures.You buy a Put Ladder of Dec 23 Puts Options to capture downside value, each for $1000 notional. Puts @25,000; 23,000; 20,000 ; respectively. Total Notional position, $3500.

The margin on a CEX or DEX with no portfolio risk is circa $350. Put option margin requirement produces a delta offset against the future of 76%. The margin requirement is reduced to $12. Effective leverage for this simple portfolio is 291X and 30 times better than a typical CEX.
Provides prices across the entire market, and generates a series of options trades as users trade. These result in a portfolio of trades.  Let’s envisage a typical 1 month market maker portfolio
LongBitcoinAug 23C24,000$20000.91-20.371650
LongBitcoinAug 23C25,500$7000-0.86-83.29232
LongBitcoinAug 23C26,250$40000.26-35.3228.37
LongBitcoinAug 23C28,000$20000.01-1.457.73
LongBitcoinAug 23P23,000$3000-0.00-0.2210.3
LongBitcoinAug 23P25,000$4000+0.05-32.2943.2
LongBitcoinAug 23P27,000$1000-0.96-22.491121
LongBitcoinAug 23P27,500$5000-0.98-9.881611

Against this 1 month of options portfolio, the market maker holds a Long $8800 Aug 23 Bitcoin    Futures position.The portfolio is delta-hedged, the future offsets the margin.  The VaR calculator will produce a small collateral requirement from the theta decay on premiums.  Here with these short dates net theta is low, a total $16.6 for 2 days.

Gamma, the sensitivity of delta to price changes is also low at 0.14, making only a minor contribution to the margin.Therefore $16 of margin is used for $19,200 of notional value. Leverage 1155x, it is only with this approach that market-making options on-chain becomes cost-effective.

Unlock the Power of Crypto and Commodities Trading

DX25 seamlessly merges the world of crypto with the rich universe of commodities. Experience a vast array of assets, from popular cryptocurrencies like BTC, ETH and EGLD to physical commodities like Gold, Petroleum, and Wheat. Your trading possibilities have never been more diverse.

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Unique VaR based margin System

DX25 employs a groundbreaking Value-at-Risk (VaR) margin system that dynamically adjusts your collateral as positions open. This advanced risk evaluation mechanism responds to market fluctuations, ensuring your collateral is optimized for current market volatility.
With DX25's VaR calculations, you can proactively manage risk by easily adding or withdrawing collateral. Plus, our built-in liquidation protocol provides added security, protecting you from potential market user failures

Cross Margin

DX25 offers a user-friendly cross margin system that uses historical correlation for futures and delta offset for options. 
This simplifies collateral requirements, especially for traders with larger positions.

Our real-time margin allocation ensures you can access profits right away. DX25's cross margin makes trading easier and more efficient, even for beginners.

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Your money is only yours


Your Money, Your Control

Your funds are secured in smart contracts, not third-party accounts.


Zero Fees on Withdrawals

Keep more of your earnings with fee-free deposits and withdrawals.


Super Low Fees on Derivatives Trading

Trade wisely from 0.01% in commissions, maximizing your profits.


Gas Free Derivatives Trading

Uninterrupted trading without any gas fees.


Spot DEX
Derivative Types
Perps, Futures, and Options
Perps, Futures, and Options
Perps, Futures, and Options
Margin approach
Cross-variation margin
Both isolated and cross-variation
0.01% / 0.03%
xxx / yyy
0.02% / 0.04%
Effective leverage
Over 1000x
Over Up to 20x
Up to 125xPerps, Futures, and Options
VaR-based collateral
Loan with interest
Good faith deposit
Trading gas fee

Why Are We BUIDLing on MultiversX


Low fees

MultiversX Transaction fees


Fully carbon neutral

Green Blockchain

~15000 TPS

High throughput

Truly Scalable Blockchain


Our Team

Incubated by The Best

DX25 has been funded by the likes of Tacans Labs, Skynet Trading and Istari Vision. We have the stamp of approval from the very best.

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