DeXFun Launches Gamified Decentralized Perpetual Futures Non-Custodial Exchange on Neo X EVM Sidechain

Users can now claim access to the dApp’s FUN tokens and create long or short trades for GAS, BTC, or ETH.

DeXFun, a gamified decentralized perpetual futures non-custodial exchange, has announced its launch on the Neo X EVM sidechain. Users can now claim access to the dApp’s FUN tokens and begin creating long or short trades for GAS, BTC, or ETH.

The development team has released a How To guide on connecting a wallet to the web application, logging in, claiming FUN tokens, setting up trades, and monitoring those trades. The DeXFun team notes, “The FUN Token is used as a test token on the Mainnet to ensure that all functions are included in future products.”

DeXFun’s platform has already gained over 13,000 users in its first two months. To celebrate the launch and further engage the community, DeXFun will be hosting a trading competition. The Top 10 traders, ranked according to their profit-and-loss performance, will share from a prize pool of 2,000 USDT.

Participants can trade in the FUNUSDT, FUNBTC, FUNETH, and FUNGAS trading pools to qualify. The competition is live and runs through 10:00 a.m. (UTC) on Jan. 15, 2025.

About DeXFun

DeXFun is a recipient of support from Neo’s Elevate Program, a funding initiative with US $20 million available to builders seeking to launch new or existing projects on Neo X. The team began building its app in September 2024 and launched its Telegram-based beta in October.

The platform expands the scope of DeFi applications in the Neo ecosystem by offering a gamified user experience via social interaction for trading perpetual futures.

Perpetual futures, or perps for short, are a type of derivative trading product that allows traders to speculate on the future value of an asset without an expiration date. Unlike traditional futures contracts with specific expiry dates, the users can hold a perpetual futures contract indefinitely.

Perps contracts offer the potential for larger gains but also increase the risk of larger losses.