Decibel Launches On-Chain Perpetuals Exchange on Aptos Mainnet with $58M Deposits
According to the Decibel Foundation, the first on-chain perpetuals exchange on Aptos launches with $58M pre-deposits and 700,000+ testnet accounts, as on-chain perps volume surges industrywide, per DeFiLlama.
Decibel, a fully on-chain perpetuals exchange incubated by Aptos Labs, has launched on the Aptos mainnet, the Decibel Foundation said. Its public testnet drew over 700,000 accounts, 132,000 daily active users, and more than 1 million daily trades. More than $58 million was committed ahead of mainnet, with roughly 40% of pre-deposit capital from Ethereum and Solana users; funding is supported from Aptos, Ethereum, Solana, or centralized exchanges. The exchange operates a central limit order book where order placement, matching, settlement, margin requirements, and liquidation logic run via smart contracts; usDCBL, issued by Bridge (a Stripe company), serves as default collateral. Decibel is the first perpetuals venue on Aptos, a layer-1 blockchain with sub-50 ms block times and sub-500 ms finality; it enters a competitive on-chain perps market led by Hyperliquid, with $920 billion in 30-day volume, according to DeFiLlama.
- Perpetuals: Derivative contracts with no expiration date, allowing traders to maintain long or short positions indefinitely with funding rate adjustments.
- Central Limit Order Book (CLOB): An order-matching system that ranks bids and asks by price and time, enabling transparent, rules-based execution.
- Layer-1 blockchain: A base blockchain network (e.g., Aptos) that processes transactions and secures the ledger without relying on other chains.