Toward a million markets…
…and how Paradex is working to get there. Announcing new tokens and updates to our product.
Note: Paradex is currently unavailable to customers based in the U.S., Canada and Japan. Please visit our Twitter for updates.
Our mission is to build an open financial system for the world. At Paradex, we believe that everything that can be tokenized, will be tokenized. We expect there to be millions of tokens that have value to their communities and provide utility in ways not possible before. Tokens will serve many different use cases, and be embedded in a variety of products and user experiences. But while their use cases may be distinct, every token needs a price and thus an accessible market. Or as Coinbase CTO Balaji Srinivasan, would say, “utility is specific, but investment is generic.”
Paradex brings that generic price-discovery functionality to every token — making it easy for anyone to buy or sell any token, whatever its specific use.
Markets are a critical component of any token ecosystem, and it’s Paradex’s goal to build this infrastructure in a way that’s reliable and easy to use — whether you’re a developer seeking liquidity in your dapp or a user looking for a simple way to buy a token you want to use.
Why use Paradex?
- Trade directly from your wallet: there’s no need to deposit funds to trade, no withdrawal fees nor limits. You always have control over your tokens.
- Ensuring you get the best price: our best in class matching engine ensures that traders always get the best price possible on Paradex when making market and limit orders that cross the order book.
- Easy to use: we make it easy to set up your account for trustless trading, and give you the tools you need to trade on web, mobile, or via our API.
- Front running protections: the Paradex operating model protects users against front-running that is possible in other forms of relays.
- Free order cancellations: many relays operate a model that requires you to pay fees to cancel open orders; with Paradex, cancelling open orders will always be free.
After joining Coinbase, we’re happy to be back up and running in many places around the world and are excitedly building out the future of the token economy.
We’ve been hard at work, laying the foundations for Paradex to become a platform that can eventually support millions of markets.
Here’s what we’re been up to:
Adding New Tokens
Here is the next batch of tokens we’re adding to Paradex immediately:
We’re going to be adding tokens at a regular cadence, scaling this rapidly as the ecosystem evolves.
We’re just getting started and have a long way to go!
New DAI pairs
We’ve added the ability for people to trade the following tokens against the $DAI Stablecoin:
- $BAT: Basic Attention Token
- $REQ: Request Network
- $SNT: Status Network Token
With many markets, it’s important to have a bird’s eye view of everything happening. With our new dashboard, we’re making it easy for you to see all of the action on Paradex at once.
One of the most consistent pieces of feedback we’ve heard from our traders is how difficult it’s been to move quickly and seamlessly between markets. We’re listening, and we’ve completely redesigned our market selector.
Many traders have a preferred set of markets that they actively watch and regularly use. We’ve added a speed dial to the top of the app to make it easy to see prices and quickly move between markets.
We’re on Mobile
We’ve launched a mobile version of Paradex to make it easy to trade on the go. We’re available on any Web3-enabled mobile wallet. Find us on Coinbase Wallet!
We want to hear from you!
- Token creators: we want to make it easy for you to list your tokens on Paradex. Please reach out here.
- Everyone: traders, market makers, dapp developers, hodlers—we want your feedback and ideas are what makes Paradex great; we’d love to learn how we can improve. Please say hi here.
To hit our goal of a million markets, we’re going to need some help. We are a completely distributed, remote first team. We’re currently hiring the following: