Kana Perps, the First Fully On-Chain CLOB-Based Aptos Perpetuals DEX, Went Live

Based on a June 11 X post, Kana Labs' perpetual trading platform, Kana Perps, went live on the Aptos mainnet. This development marks the first fully

Kana Labs' perpetual trading platform, Kana Perps, has launched on the Aptos mainnet, marking the first fully on-chain CLOB-based Aptos Perpetuals DEX.

This development expands Kana Labs' efforts to broaden on-chain derivatives offerings for crypto traders. The mainnet release follows extensive internal testing across different network conditions and user scenarios.

Supported Assets and Core Order Features in Kana Perps

Kana Perpetuals Dex currently supports trading of APT, BTC, and ETH assets, with further tokens planned.

Market orders execute immediately at prevailing prices for instant trade completion.

Limit orders are placed at desired price levels and filled only under matching conditions.

Take profit and stop loss features are available for managing risk on positions.

Order sizes cannot be modified after submission, but traders can cancel and resubmit orders.

This design ensures the integrity of trades while granting traders flexibility in controlling their risk.

Plans are in place to introduce additional tokens and more user-friendly order features shortly.

On-Chain Matching Engine and Order Book Infrastructure

The order book and matching engine for the first Aptos Perpetuals DEX utilize the Econia on-chain infrastructure. This system aggregates liquidity from exchanges, market makers, and individual participants.

Aptos' Block-STM engine enables Kana Labs to settle orders for their Perpetual contracts efficiently. Each transaction processes and settles trades to minimize delay and slippage. This high throughput capacity supports fair price discovery and consistent execution speeds, showcasing the strengths of fully on-chain trading solutions.

Econia's distributed design leverages Aptos modules to coordinate order books across multiple shards in a scalable manner.

Margin Requirements and Fee Structure Explained

Kana Labs' Perps exchange adopts an isolated margin model, requiring an initial margin to open each position. A lower maintenance margin must be maintained to prevent automatic liquidation. Traders who breach this threshold will have their positions closed by the system.

The maintenance margin is currently 2.5% of each position's notional value. Clear margin calculations, based on leverage, are provided to traders to help them understand their exposure. This framework mitigates risk from sudden price swings for market participants.

Leverage options are available, allowing traders to adjust their risk according to their individual strategies and capital.

Taker orders remove liquidity and incur a 0.05% platform fee. Maker orders add liquidity and are free of platform fees, with users only paying gas.

A VIP program offers reduced taker fees at higher trading volumes. The fee tiers start at 0.03% for lower volumes and decrease to 0.0005% at the highest volume band, or for traders holding Kana Labs' tokens.

Gas fees are charged separately, ensuring a clear breakdown of costs for each transaction processed on-chain.

Integration with OKX Wallet and the Future of On-Chain Trading Access

Kana Labs was recently in the news for the integration of its DEX with OKX Wallet through a DEX API connection, simplifying access to token swaps on the decentralized platform. Users benefit from OKX Wallet's security and the rapid execution capabilities of the Kana order engine.

This partnership showcases the growing collaboration between leading blockchain companies to enhance the DeFi trading experience.

The integration of OKX Wallet's diverse services with Kana Labs' advanced derivatives offerings on Aptos signifies a broader trend towards more interconnected and feature-rich decentralized trading solutions.