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Gambit
Gambit, a Perpetual DEX operating on Arbitrum and zkSync Era, has set itself apart by utilizing the PYTH Network—a blockchain tailored specifically for Oracle, as its exclusive price feed source, effectively eliminating centralized points of failure. This integration ensures that price manipulation is significantly mitigated, promoting transparency in price reference—a unique competitive advantage that Gambit holds over its competitors. Gambit offers cash-settled futures trading in USDC, simplifying the process of listing and trading a wide array of assets and endeavors to provide a user experience on par with CEXs while maintaining the decentralized features of its platform.
As of February 2024, Gambit currently lists 10 types of cryptocurrencies and 4 types of foreign exchange pairs for trading. Users can enter buy or sell positions at market price, limit price, or with a Stop price. Cryptocurrencies can be traded with leverage of up to 100x, while for foreign exchange, leverage can go up to 1,000x.
Gambit supports Gasless, Signless Trading. Users can pay for gas fees with USDC instead of ETH, and for positions over $3K(Forex: $20K+), the gas fees are waived. It allows for social logins through Google, Apple, X, and others, which eliminates the need for the signing procedure during all transactions, providing a user experience similar to using a CEX.
Users can utilize existing wallets such as Metamask or WalletConnect, or opt for social login. Choosing social login will result in the creation of a new wallet. Simply transfer USDC from an external exchange or wallet, and you are immediately ready for all transactions.
If you watch the video, you'll see the actual trading process of Gambit where you can open and close positions without a separate signing procedure just by using Google login. Compared to similar Perp DEXs like GMX and gTrade, the speed of opening and closing positions is significantly faster.
To achieve this, we have leveraged various state-of-the-art technologies such as Permit, Structured Signing, and MPC to elevate the potential of DeFi to the next level. We will continue to evolve to become the most user-friendly Perp DEX.