On April 9, 2025, StandX, founded by members of the Binance Futures founding team, officially launched its first product, DUSD.

DUSD is a yield-bearing stablecoin designed to provide users with competitive returns. Its yield comes from real staking rewards and perpetual contract funding rates, with rewards automatically credited to users' accounts without the need for additional staking operations.

At the same time, StandX will launch a "Pre-deposit" reward program to give back to early supporters. Users who pre-deposit funds can earn platform points as well as enjoy an average annualized return of about 6%.

StandX is expected to officially launch a new decentralized exchange for perpetual contracts in July 2025.

Team Highlights

The StandX team has previously worked at the Binance Futures founding team and Goldman Sachs. Its CEO, AG, led the Binance Futures business from zero to the largest derivatives market in terms of user base and trading volume. AG firmly believes that DeFi represents the future, and the rich experience our team has accumulated in centralized exchanges (CEX) can be effectively applied to on-chain solutions, thereby creating higher quality products.

"While traditional centralized derivatives exchanges still hold a majority market share, we have seen rapid growth in Perps DEX," AG said. "As on-chain processing capabilities continue to grow, the ability of DEX to handle transactions is improving rapidly. Once this bottleneck is resolved, DEX, by providing a safer and more transparent trading environment, will have the opportunity to become an alternative to CEX. We hope to drive this innovation and help users gain more control over their assets."

Innovation and Advantages of DUSD

DUSD adopts a simple design concept that helps users generate real yields using USDT and USDC, and proportionally returns this yield to DUSD holders.

The yield of DUSD mainly comes from staking of spot assets and the funding rates of short perpetual contracts. This is fundamentally different from artificially creating returns through methods such as issuing new tokens; DUSD provides sustainable yields with real sources.

In terms of asset security, DUSD employs a custody solution to avoid counterparty risks from exchanges. Additionally, the asset support structure of DUSD maintains market neutrality, ensuring its value stability, and has a reserve fund to hedge against potential asset losses.

DUSD holders can directly receive yields without the need for additional staking or operations. This "no-staking" yield mechanism is key to the design of yield-bearing stablecoins. Most products on the market currently struggle to meet both conditions simultaneously—users typically either stake stablecoins to earn yields or forgo yields for liquidity and usability.

In the design of DUSD, the system records the amount of tokens held by each address and automatically allocates rewards accordingly. Meanwhile, StandX is continuously developing more application scenarios, allowing users to earn yields while maintaining the liquidity and usability of DUSD.

Market Outlook

The crypto derivatives market is vast and growing rapidly. In 2024, global perpetual contract trading volume surged. According to statistics, the total trading volume of perpetual contracts on the top ten centralized exchanges that year was approximately $58.5 trillion, doubling year-on-year. Meanwhile, the trading volume on decentralized perpetual trading platforms also skyrocketed to about $1.5 trillion, a 138% increase compared to 2023 (tradingview.com). Although the share of decentralized derivatives trading is still lower than that of centralized platforms, this trend indicates that more and more traders are beginning to favor decentralized trading models that do not require third-party custody. With the continuous iteration and emergence of new products, DEX has significantly improved user interface friendliness and interaction design, while liquidity is also improving. DEX now has the capability to provide a trading experience on par with CEX. As Perps DEX further integrates with a broader DeFi ecosystem, it will also unlock more potential possibilities, such as yield boosts, asset collateralization, and more innovative financial services.

Future Plans

The StandX perpetual contract DEX is expected to officially launch in July 2025. Guided by a long-term strategy and innovative spirit, StandX is committed to creating a Perps DEX that serves traders and truly becomes the first trading choice for users.

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