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perpetuals dex

2 articles

Crypto Markets

EdgeX Token Implodes 71% in Flash Crash: Exchange Deploys $200K Bounty and Refund Program as Trust Repair Begins

EdgeX, a decentralized perpetuals exchange, suffered a severe 71% flash crash in its native token, triggering immediate crisis-response measures including a 200,000 USDC bounty to identify responsible parties and a direct refund mechanism for impacted traders. The incident exposes systemic vulnerabilities in thin-liquidity derivative markets where concentrated selling or algorithmic exploitation can unwind months of price discovery within minutes. EdgeX's rapid institutional response signals a maturing accountability standard in DeFi, though the reputational calculus for newer perp DEXs remains deeply unfavorable.

Jun 4Read →
Cryptocurrency

Grayscale's Fee-War Entry into Hyperliquid ETF Market Signals Institutional Appetite for DeFi-Native Assets

Grayscale has introduced what it positions as the lowest-fee U.S.-listed ETF tracking HYPE, the native token of the Hyperliquid decentralized exchange protocol, intensifying a competitive race among asset managers to capture early institutional flows into emerging DeFi blue-chips. The move reflects a broader structural shift in crypto ETF strategy—from Bitcoin and Ethereum dominance toward layer-1 and DeFi-native tokens. Fee undercutting as a market-entry tactic signals that the HYPE ETF category is expected to attract sufficient AUM to justify thin margin competition.

Jun 4Read →