From Zero to 100x
Two weeks have passed since 100x launched on Blast, and the experience has been nothing short of exciting. It was a speedrun for users to try and trade on the platform, for engineers to fix bugs as they appeared, and for rewards to be distributed before the final deadline. Not only orders were executed at lightning speed, but stress testing and development. A launch is always a challenge, and none is quite like the other.
It’s time for a recap, and a peek at what’s coming.
From 1 to 100m
After a short Closed Beta, 100x was publicly launched on June 13th. From day one, users quickly jumped in. Zero fees and high rewards catched on like fire and gasoline. There was no time to lose, with the upcoming Blast TGE. It was expected, but only to a degree. It was, after all, the best Blast Gold on the dime available, for the keen users reading cues and instructions. Activity continued to ramp up, as did volumes.
In one week, daily volumes went from 1m to 100m. A perfect 100x.
Over the course of two weeks, the number of trades kept rising accordingly.
As did the number of unique traders joining the platform every day.
Unforeseen levels of growth for users, activity and volume took us to the limit, and the road to 100m wasn’t without bumps. But untrodden roads never are. The farther you go, the more you have to be prepared for these.
From Hero to Zero (and back)
Fire and gasoline. Rising volumes combined with the zero fees available for the first week of trading were a deadly combination, quickly overloading the sequencer responsible for pushing transactions on-chain. Being the fastest growing protocol on Blast came at a cost.
Every additional million of volume incurred in costs for the platform, and volume was coming in hot. We were going fast, but quite literally running out of gas. At one point, 100x was the second largest gas spender on Blast.
To ensure the protocol could keep running and paying for its gas bills, a 0.01% trading fee was instituted for takers. Still, by large, the lowest in the market. Traders didn’t slow down, and once everything was sorted in the backend, 100x came out stronger than ever. The protocol was able to handle high volumes, usage and volatility with minimum periods of downtime, proving its resilience.
From 100m to 1b
As these exciting but convoluted times pass, it’s time to get back to cooking. The resilience of the team was put to a test and passed, as did the platform itself. Now, what to expect next?
- Take Profit, Stop Loss and Bulk orders
More control over your orders and better risk management to improve even more the smooth and fast trading experience you’re familiar with. - ETH as a collateral
Keep your ETH exposure and open new possibilities for your strategies. - Spot markets
Trade without leverage for the sake of it, with no funding plus rewards. Or use it to run a delta-neutral strategy, up to you. - Analytics
The best way to track your own activity on the platform, the stats for 100x as a whole, and see how you perform against other users. - Bridgeless deposit
Seamless onboarding from your favorite chain directly onto 100x. - Vault strategies
Be the market maker with a single deposit, earning yield and powering order book liquidity across all pairs on 100x — and more. - Trading leagues
Trade with your friends or against them, show everyone who is king and get rewarded for it. - More trading pairs
Now that liquidity has been solidified for the major pairs such as BTC, ETH and SOL, the goal is to widen the range of pairs available to users.
The last few weeks were a track race, now starts the marathon. We want you with us, testing the product, giving feedback and suggestions. You in?
Chat with us on Discord, keep up with the latest on X, and trade on 100x.
