We’re thrilled to announce the latest update to ALPHA, THENA’s intent-based decentralized derivatives exchange, now powered by IntentX, Orbs, and SYMMIO. The new version is now live on BNB Smart Chain, and soon opBNB, BNB’s high-performance optimistic layer 2 solution.
This upgrade marks a significant leap forward, streamlining your trading experience with intuitive, informative, and customizable features. We are also now officially ending the beta phase with the introduction of a Trade2Earn Program in order to scale up the trading volume, set for launch at 00:00 UTC, April 27, 2024.
What is it all about? Let’s dive in.
Key Improvements
- Trade2Earn Program: Launching with a daily $1,000 reward pool, distributed based on trading volume share per a given day (24 hours), resetting at 00:00 UTC. Trading automatically enrolls you in the current day’s rewards. THENA uses Muon to provide this low-cost and secure reward system.
- Enhanced User Interface: Enjoy new features like advanced account analytics, grouped positions, and customizable layouts, alongside improvements like a refined search bar and faster page loading. We’ve also added an order depth view.
- Order Management Innovations: We’ve introduced a new polling system for more efficient order handling, a floating order notification system, and a comparison tool for estimated vs. current slippage.
- Risk Management Tools: Utilize Stop Loss and Take Profit (SL/TP) functions directly within the platform, offering front-end coordination with market makers for timely and gas-free order execution. We’ve also added estimated liquidation prices and improved the solvency indicators.
Stop Loss and Take Profit
ALPHA uses IntentX’s proprietary SL/TP solution that integrates with SYMMIO core contracts, ensuring orders are triggered at your specified price points with minimal delay and no gas cost.
Please note, at this early stage the system is only optimized for medium and long-term strategies, with further improvements coming at a later stage.
This list of improvements is not exhaustive, and we’ll be working closely with IntentX and SYMMIO to give you a trading experience that rivals the best.
Innovating with INTENTS
ALPHA’s innovative approach solves the longstanding dilemma in the digital assets market: the trade-off between the liquidity of centralized exchanges (CEXs) and the security of decentralized exchanges (DEXs). By leveraging a unique Request for Quote (RFQ) and intent-based architecture, ALPHA bridges CEX liquidity to the on-chain world, offering a permissionless, secure, and isolated trading environment without the risk of custody or insolvency issues.
Think of ALPHA as an OTC market facilitator, syncing market maker quotations with trader order flows, while SYMMIO acts as a decentralized, global risk and exposure settlement layer.
ALPHA’s model ensures deep liquidity and capital efficiency by acting as a liquidity aggregator. This setup allows ALPHA to source liquidity from various efficient channels (CEXs, DEXs, OTC desks, and more), offering traders the best price execution with minimal slippage.
The result? Vastly improved efficiency, security, and scalability compared to vAMM and CLOB based models.
THE Future is Bright
This upgrade marks the beginning of an exciting journey to scale our decentralized derivatives exchange on BNB and beyond. With the forthcoming release of ARENA, THENA’s social hub featuring fully permissionless and customizable trading competitions (and more!), we are destined to take THE vision even further.
ALPHA’s integration of cutting-edge technology changes the game for on-chain derivatives, delivering secure, affordable, and abundant liquidity to DeFi users. This zero-to-one innovation is already transforming the on-chain derivatives landscape, ushering in a new era of leverage trading on BNB Chain.
Intents are changing EVERYTHING.
