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LogX

LogX perp dex with deep liquidity for a seamless and efficient leveraged trading experience. LogX Liquidity Pool is a stable asset pool constituting USDC and USDT.

Seed Round: $6M

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Overview

Project industryExchanges & Wallets
Product typeProtocol
WhitepaperLogX White Paper Open

What is LogX

LogX uses a dark oracle that aggregates prices from various centralised and decentralised dexes to agree upon a common median value of price. This aggregated price value is compared against price from the Pyth Oracle network and written to chain. This comparison is done on chain and the aggregation from multiple sources makes sure that a common market price for token pair is taken into consideration.

LogX liquidity pool is composed of stable tokens (USDC and USDT). Every trade is placed against a collateral token of either of these two stable tokens. This eliminates the issue of maintaining high liquidity for each token pair separately, which one would have to do in an order book model for a DEX.

Traders can trade against the liquidity pool regardless of the index token; the same liquidity will be available for each index token listed on LogX. This means that as long as the platform has enough stable token liquidity, traders can use that liquidity to open leveraged positions on any index token.

Details

Raised: 6,000,000 USD

Legal

Blockchain Platform: Ethereum
Registration year: 2023

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