Hello UniDex traders! It's been a while since our last update post, which announced the release of Perps on Arbitrum. We wanted to bring you up to speed on all the developments that have transpired since then and share our future plans. You might have noticed some significant updates to the Perps UI. Additionally, we have introduced new UNIDX liquidity opportunities and exclusive additions to the platform.

Let’s dig right in…

PerpsV3.1

One of the most substantial updates to our leverage trading protocol involves expanding both the features we missed in V3 and compatibility with custom trading pairs. We have already implemented these enhancements in new chain deployments and in a few existing ones, including Base and Arbitrum. But we also plan to expand some other older networks such as Optimism and zkSync soon. Below, we will review a short list of these new features and explain why they are essential.

• Referral addresses can be any text, not just an address

• Proof of concept binary options support

• Easier tracking of limit orders by keepers/indexers

• Added adjustable per pair max profit percentage

• Added TP and SL price on trade open

• Whitehat bug reported by @0xEmiya fixed

• Support listing of exotic pairs

• Support UniV2/V3 pairs

• Support custom indexes like Friend.tech, OpIndex, PerpdexIndex

• Support alt-base pairs like ETH/BTC or LINK/ETH

Let’s break these up into three groups. Protocol improvements, new additions, and future-proofing changes with V3.1

Protocol Improvements

Referral addresses are key to increasing engagement to any platform. Gaining more control over your shareable links can create additional opportunities, especially for those with a following. Now, when sharing a referral link, users have the option to assign a unique "first-come, first-served" string of text tied to an address. This enhancement allows users to share links such as "leverage.unidex.exchange/?ref=coingecko", encouraging further platform sharing with potential new users.

The contracts now also include a customizable keeper callback to make your intent-based trades a bit easier and more flexible. One of the ways we’re taking advantage of this already is to allowing the user to submit a stoploss/tp price for their trade as the position is being created. These events are also more extensively tracked so keepers and indexers like subgraphs can easily make sense of the data.

New additions

One of the things that has held back adding exotic pairs and custom indexes has been the potential for oracle exploits and manipulable pairs. With the upgraded contracts, each market now has a customizable max percentage profit to decrease the risk for poolers and reduce protocol exploitable attack vectors.

Because of this new change, we’ve added support for a bunch of new trading pairs such as UniV3 pairs (RLB-ETH, UNIBOT-ETH, BITCOIN-ETH), Custom Indexes (L2Index, DeFIIndex, Top15Index etc), and even custom pairs like GNS/GMX and ARB/OP. One of the most exciting pairs we’ve listed is the Friend.TechIndex tracks the USD value aggregate key prices of all Friend.tech shares.

Future Proofing

Since we had time to adjust the contracts with new features we missed in V3, we’ve gone ahead and filled in the missing gaps and extended functionality for future protocols building on top of UniDex. Bugs were fixed reported by a past contributor 0xEmiya, custom settlement options to allow things like binary options and future contracts, and faster migrations to newly released trading contracts.

Beta Testers

Right now, our beta testers in Discord are busy testing lots of new features. The beta build brings 5 new Perp DEXs for better liquidity routing, a Gnosis Safe wallet integration for account abstraction, and ready-to-test intent-based limit orders. Although recent releases like GMXv2 have delayed our timeline slightly, we're still the go-to Perp DEX for the highest number of liquidity sources, the most innovative and reliable limit orders, and the best experience in aggregated leverage trading.

Moving POL back to ETH mainnet

With the addition of Aerodrome and VelodromeV2, three opportunities exist to farm UNIDX as a liquidity position. The largest issue is that DEXscreener has recently stopped adding supporting some DEXs. Many users are completely unaware of the liquidity on Optimism, for example, even though liquidity on Optimism has been the most liquid venue for the past year! This change will keep that statement still true, but we will move our POL to mainnet with aggressive liquidity ranges to give buyers only on ETH mainnet some opportunity and boost visibility for UNIDX where UniV3 is already indexed.

We also plan to incentivize liquidity on UniV3 through partner protocols such as Bunni.pro & liquidity optimizers to provide extra incentives to provide liquidity on mainnet. These changes will go live immediately with this post, but liquidity depth shouldn’t be affected much as POL only represents ~14% of total liquidity depth on Base & Optimism. (Again we will still continue to bribe on Velodrome/Aerodrome but less aggressively)

New Analytics Page

Thanks to Robolabs, we've launched a new stats page that displays data more clearly and flexibly than ever before. It uses the brand-new arkiver data stream created by Robolabs to gather all the protocol data on one easy-to-use page.

The new page allows you to filter charts by any condition easily, group them by various categories, or combine both approaches for highly specific protocol data. Unlike community made Dune Analytics pages, it supports any network we deploy on and instantly supports all the collateral pairs we list. Say goodbye to fragmented data and depending on third-party stat trackers! We are thrilled with the results and invite you to check out a preview link in our Discord for early access.

New Landing Page

Our designers have cooked up something special🧑‍🎨 . Welcome a fully reimagined landing page for UniDex! Right off the bat, you'll notice several changes that are part of our rebranding process initiated early in 2023. The theme and branding draw inspiration from liquid metal, bringing a fresh and modern vibe to our platform. Previous products have taken on new identities, with SakuraRPC transforming into ObsidianRPC, accompanied by existing products like our Magma testnet and mentions of its mainnet counterpart, Molten.

As we move forward, we plan to split UniDex’s operations, separating the infrastructure and the trading aspects into two distinct entities. This strategic move aims to streamline our processes and offer a more focused approach to each sector. We're eager to hear your feedback on these developments, but keep in mind there are still a few hidden pages earmarked for future releases — stay tuned!

New Trading Competition

We ran a good incentivized trading program last month, which brought over $86,000,000 in trading volume and lots of new TVL to our Arbitrum deployment. We liked the outcome, so we plan to do another very soon. This time, we plan to do a general trading competition based on PnL over the course of a month. All networks will be eligible, and your PnL will be aggregated across all collateral pairs in USD.We’ll share more info soon about dates, conditions, and ways to participate, so be on the lookout!