Mufex

Mufex operates as a decentralized perpetual contract trading platform, positioning itself as a hybrid system that merges features from both centralized (CEX) and decentralized exchanges (DEX). Founded in 2023 and based in Singapore, the company aims to provide a user experience similar to a CEX, characterized by high-speed order processing and a familiar interface, while maintaining the security and non-custodial advantages of a DEX. The founding team is composed of approximately 30 veterans from established exchanges like Binance, Bybit, and MEXC, who bring extensive experience in the cryptocurrency derivatives market. The project launched its testnet on May 15, 2023, attracting over 10,000 test users, and has since secured funding from investors including Taisu, Mantle Network, and Bing Ventures.

The platform's core offering is perpetual contracts, which allow traders to speculate on cryptocurrency price movements without an expiration date. A key technical feature is its hybrid model combining an order book with a liquidity pool, which is designed to reduce spreads and slippage while enabling leverage of up to 150x. To ensure fast transaction processing, Mufex utilizes an off-chain matching engine capable of 100,000 transactions per second, with trades later settled on-chain using ZK-rollups to lower gas fees and ensure transparency. This structure provides traders with tools such as market, limit, and conditional orders, along with take-profit and stop-loss functions in both isolated and cross margin modes.

Mufex targets both seasoned traders and newcomers transitioning from Web2 environments. It simplifies the onboarding process through a smart contract wallet that allows users to sign up and log in with familiar accounts like email or social media, removing the complexity of seed phrases. The business model includes a dual-token system, comprising a liquidity pool token and a governance token, to incentivize liquidity provision and user participation through staking, trading, and referrals. The platform also offers an agent system to better serve customers and has planned features like copy trading on Telegram. By operating as a DEX, Mufex provides a permissionless environment where users retain full control of their assets, and all transactions are verifiable on the blockchain.

Keywords: decentralized exchange, perpetual contracts, cryptocurrency trading, ZK-rollups, high leverage trading, order book, liquidity pool, smart contract wallet, DeFi, crypto derivatives, blockchain finance, non-custodial trading, financial software, CEX/DEX hybrid, crypto futures, digital asset exchange, secure trading, on-chain derivatives, trade execution, market speculation