DeXFun has launched on the Neo X EVM sidechain. Users can now claim access to the dApp’s FUN tokens and create long or short trades for GAS, BTC, or ETH.
DeXFun is a gamified decentralized perpetual futures non-custodial exchange on the Neo X EVM sidechain. The development team aims to gamify the perps trading experience by offering mini-games and a leveling system to provide an interactive journey. Within the web-based dApp, users can earn experience points, which can be leveraged as collateral.
The team has released a How To guide on connecting a wallet to the web application, logging in, claiming FUN tokens, setting up trades, and monitoring those trades. The DeXFun team notes, “The FUN Token is used as a test token on the Mainnet to ensure that all functions are included in future products.”
DeXFun’s developers note that the platform has gained over 13,000 users in its first two months.
Trading Competition
To celebrate the launch, DeXFun is hosting a trading competition. The Top 10 traders, ranked according to their profit-and-loss performance, will share from a prize pool of 2,000 USDT.
To qualify, participants can trade in the FUNUSDT, FUNBTC, FUNETH, and FUNGAS trading pools.
The trading competition is live and runs through 10:00 a.m. (UTC) on Jan. 15, 2025.
About DeXFun
DeXFun is a recipient of support from Neo’s Elevate Program, a funding initiative with US $20 million available to builders seeking to launch new or existing projects on Neo X. The team began building its app in September 2024 and launched its Telegram-based beta in October.
The DeXFun platform seeks to expand the scope of DeFi applications in the Neo ecosystem by offering a gamified user experience via social interaction for trading perpetual futures. Perpetual futures, or perps for short, are a type of derivative trading product that allows traders to speculate on the future value of an asset without an expiration date. Unlike traditional futures contracts with specific expiry dates, the users can hold a perpetual futures contract indefinitely. Perps contracts offer the potential for larger gains but also increase the risk of larger losses.
The launch announcement can be found at the link below:
https://x.com/DeXFun_Official/status/1868928742275661835
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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