About Demex Whitepaper
About Demex Whitepaper
By Samyukta Narasimhan in Product —

Demex’s Road to 100 Market Listings

Demex’s Road to 100 Market Listings

We're all about pushing boundaries here at Demex. You know the drill – the hottest, most buzz-worthy perpetual markets you won't find anywhere else. No shady CEXs, no limitations of traditional DEXs. We've consistently delivered a steady stream of fresh markets to fuel your trading strategies, from OG perpetuals to the latest altcoin explosions and even the meme coin craze. We equip you with the tools to conquer any market condition, bull or bear.

We're thrilled to announce our ambitious goal: reaching a staggering 100 market listings by the end of 2024! This next chapter is all about unlocking a new level of opportunity for Demex traders. To achieve this explosive growth, we're leveraging some groundbreaking tech – let's dive into the engine powering this market expansion.

Oracles: The Unsung Heroes of Perpetual Markets

In the realm of blockchain technology, oracles act as silent guardians, ensuring the smooth operation of many decentralized applications (dApps) like Demex.  Imagine a secure vault (the blockchain) that can't directly access the outside world (external data sources). Oracles act as the trusted intermediaries, retrieving crucial data –  typically market prices for cryptocurrencies or other assets –  and delivering it securely to the applications within the vault (smart contracts).

For Demex's perpetual markets to function flawlessly, this external data, specifically accurate and up-to-date market prices, is essential. Perpetual contracts rely on smart contracts, a self-executing code that governs the market's behavior. These smart contracts require constant, reliable price feeds to determine fair trade execution and settlement.

Current Oracle Structure

Demex currently boasts a robust Oracle infrastructure supported by the Carbon Network, which has been instrumental in our success. Each of our over 30 perpetual and 40 lending markets has its own dedicated oracle, ensuring users have access to the most up-to-date market data with frequent price updates. This system has demonstrably served us well, contributing to our high transaction volume and positioning Carbon Network among the top contenders in Map of Zones.

However, as we set our ambitious goal of reaching 100 market listings by the end of the year, the limitations of our current approach become apparent. The sheer number of individual Oracle updates required to manage hundreds of markets would create a bottleneck, hindering our ability to scale efficiently and deliver the exceptional experience our users deserve.

Leveraging Carbon Network's Next-Gen Oracle Infrastructure

Demex's success is a direct result of the robust architecture provided by Carbon Network, particularly its strong Oracle infrastructure. As we set our sights on reaching 100 markets, we recognized the need to scale this critical system even further. After all, a smooth and efficient trading experience for our users is paramount as the number of markets expands.

That's where Carbon Network's latest innovation comes in. Our home network is introducing a groundbreaking upgrade to its Oracle infrastructure, specifically designed to tackle the limitations of individual Oracle updates. This cutting-edge technology will be seamlessly integrated into Demex, a decentralized application (dApp) built on Carbon Network. This translates to a significant boost in Demex's trading experience.

The new Oracle infrastructure leverages the power of CometBFT ABCI++ and the Tendermint consensus algorithm.

  • CometBFT ABCI++: This innovative system streamlines oracle updates by bundling them into a single transaction. This allows Demex to scale to thousands of oracles, each updating prices with a 1-second resolution.
Source: Carbon's Twitter
  • Tendermint Consensus Algorithm: The lower-level gossiping protocol of Tendermint further enhances efficiency by facilitating swift communication and finalization of oracle votes.

Supercharging Demex's Perpetual Market Listings

The impact of this upgrade extends far beyond simply handling more perpetual markets. It unlocks a treasure trove of potential for Demex and its users:

  • More Markets, More Opportunities: With the ability to efficiently manage hundreds of new markets, Demex opens doors for traders to explore a wider range of perpetuals and other derivative instruments. This diversification will undoubtedly drive volume and liquidity, creating a more vibrant trading environment.
  • Cross-Margin and Multi-Asset Mode: The upgraded infrastructure paves the way for exciting new features like cross-margin trading and multi-asset mode. This empowers traders to leverage yield-bearing assets while they trade on Demex.
  • Enhanced Stability and Speed: The upgraded architecture bolsters the stability and response speed of the Demex platform. This translates to a smoother and more responsive trading experience for users, especially when dealing with fast-moving perpetual markets.

Demex: The Trader's Haven for Perpetuals and Beyond

We're not just about the numbers; we're about empowering traders, especially those who thrive in the fast-paced world of perpetuals. Here's what makes Demex your one-stop shop for an exceptional trading experience:

  • Minimal Fees: Trade on Demex and keep more of your profits with our close-to-nothing trading fees, as you earn it back with Carbon Credits.
  • Exotic Markets: Explore a vast array of trending and exotic perpetual markets.
  • Pro & Lite Modes: Tailor the trading experience to your expertise with Pro and Lite modes.
  • Mobile Availability: Trade on the go with Demex's convenient mobile app.
  • Demex Points: Earn points for your activity and loyalty on the platform.

Demex is committed to providing a feature-rich and user-friendly experience for both experienced traders and newcomers, all within the exciting world of perpetual markets.

The TLDR

Demex is targeting a significant increase in market listings, aiming to reach 100 by the end of the year. To facilitate this growth and ensure smooth operation, Demex is upgrading its Oracle infrastructure. While effective for our existing offerings, the current system presents limitations when scaling to hundreds of new markets. Carbon Network's next-generation oracle technology will be seamlessly integrated to address these limitations and provide a reliable foundation for Demex's expanded perpetual market listings.