edgeX, the last of the four major Perp DEX platforms yet to issue a token, is set to conduct its Token Generation Event (TGE) by the end of the month. The $EDGE token is already listed on Binance and has a roadmap for Coinbase, marking edgeX as a comprehensive CEX project. With this launch, all top four Perp DEX projects will have their tokens in circulation, signaling the start of intensified competition in the sector.
Despite Hyperliquid's current lead in user base and trading volume, Perp DEX platforms only account for less than 5% of total crypto users, yet contribute 15% of the market's trading volume. edgeX aims to capitalize on this by enhancing user experience and convenience, particularly through its superior app interface compared to its competitors, which primarily focus on web-based platforms. Additionally, edgeX's one-stop product offerings, including stocks and commodities, have shown significant trading volume, with gold and silver reaching over $650 million in 24-hour trading.
edgeX plans to initiate a treasury buyback post-token launch, with $192 million in treasury funds, half of which is allocated for buybacks. This strategy mirrors successful market entries by $HYPE and $ASTER. Furthermore, edgeX has partnered with Circle to offer a USDC deposit program with a 10% APY, though limited to a $30 million pool.
edgeX to Launch Token as Perp DEX Competition Heats Up
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