edgeX

edgeX is a decentralized trading platform built for continuous, around-the-clock trading of perpetual contracts and spot markets across asset classes including commodities, equities, and cryptocurrencies. It operates on its own infrastructure called EDGE Chain and is integrated with USDC, the dollar-pegged stablecoin backed by Circle. The project aims to let users trade global assets without giving up custody of their funds, addressing the problem of fragmented, custodied trading across traditional and crypto markets.

edgeX runs on EDGE Chain, its own dedicated chain with a block time recorded as zero minutes in the stored data, suggesting near-instant or off-chain settlement that is later reconciled on-chain. The EDGE token exists within this ecosystem as an exchange-based token, meaning it is tied to the platform's activity; holders receive a share of protocol revenue, recorded as 611,855 USD over the trailing 30 days. Settlement and margining are denominated in native USDC, with liquidity aggregated across the platform's spot and perpetuals markets.

edgeX generates fees from trading activity on its platform, with 3,818,241 USD collected in fees over the trailing 30 days and a 24-hour fee figure of 139,074 USD. Of those 30-day fees, the protocol retained 2,732,046 USD as revenue, reflecting a take rate of roughly 71.6% over that period, while 1,086,195 USD went to the supply side and 611,855 USD to token holders. Annualizing from the trailing 30 days, fees reach 46,455,265.50 USD and protocol revenue reaches 33,239,893 USD. The market-cap-to-fees ratio stands at 2.85 and the market-cap-to-revenue ratio at 3.98, both measured against annualized figures from the trailing 30 days.