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Rising star in the perpetual market - VOOI, has seen an explosive growth over the last year, with close to $5B in volume being traded. Designed to simplify and unify access to multiple perpetual DEXs (Orderly, KiloEx, SynFutures, Hyperliquid and Ebi), it core focus - allowing users to enjoy a CEX-like trading experience across multiple chains on various Perp DEXs, has propelled it new heights.
Utilising OneBalance’s CA toolkit, we eliminate the concepts of “chains”, “bridges” or “native gas fees” from the users journey.
Through the VOOI x OneBalance partnership, all VOOI users will soon be able to access a wider variety of markets and additional chains, without ever touching the complexities of a multi-chain environment.
The perp trader dilemma
Traders ultimately care about two things. Price and execution. When moving from a single chain environment to a multi-chain universe, both pricing and execution of a trade are severely affected through:
- Enhanced slippage via reduced depth of liquidity:
Due to liquidity being spread across several chains and DEXs, larger orders will suffer from increased slippage - Higher execution costs
To transact cross-chain, users will need to first bridge and pay additional platform fees eating into tight profit margins - Poor UX leading to time delays
Users executing multi-chain trades will suffer the time delay from existing infrastructure providers. This often results with a different market price being executed
Whilst $5B in perp volume to date is an impressive feat for VOOI, it is still a drop in the ocean compared to CEX volumes. Coinbase has seen an average of $57.7B in daily volumes for just the BTC market alone with Binance recently experiencing $68B in daily volume. In comparison, the entire derivatives volume across all perp DEXs is around $5-7B per day. If one was to scale up CEX volumes to incorporate wider token pairs, and other exchanges, it is clear that UX is the final hurdle in unlocking trillions - not billions, in volume for DeFi.
The future of leveraged trading
VOOI and OneBalance are combining forces to provide the following feature set:
The flow diagram highlights the process of how a multi-chain leveraged trade, is executed through VOOI and OneBalances architecture.
$1T in trading volume is just the start
The partnership between VOOI and OneBalance paves the road for Perp DEXs to have a UX akin to a centralised exchange . This new feature set minimizes friction for users when interacting with different networks with key benefits including:
- Faster transaction execution: Saving precious seconds when it really matters.
- Gas abstraction: Users can pay gas fees with multiple tokens.
- Chain abstraction: Chain specifics are hidden to the user, enhancing UX.
- Unified balances: All funds appear in one UI, even when spread across chains.
- Enhanced Arbitrage opportunities: Users can take advantage of price discrepancies between different chains/DEXs instantly.
- Optimal price execution: Chain abstraction enables advanced trading features, like smart order routing and automation, that work cross-chain, for more efficient use of liquidity sources.
- Greater opportunities: It will now be easier than every to execute more complicated trading strategies such as funding rate arbitrage.
- Wider variety of token pairs: No longer will users be confined to a particular token pair due to chain restrictions. Any token, on any chain, with just one click.
Together, we are making DeFi accessible for the masses. Together we are making a chain free, Web3.
Together we will onboard the next billion users.
FAQs
What is OneBalance’s mission?
Web3 has historically maintained a chain-centric worldview, often referred to as the “Fat Protocol Thesis.” Our mission is to help the web3 ecosystem transition to an account-centric worldview in order to bring web3 to the first one billion people.
By doing this, we simplify the user experience and remove the words "chain", "bridging", and "gas" from the user’s vocabulary.
Much like the shift from the Geocentric worldview to the Heliocentric worldview unlocked a wealth of discoveries, we believe the shift from a chain-centric worldview to an account-centric worldview will unlock the full potential of web3.
I would like to bring chain abstraction to my dApp, how?
This integration is just the tip of the iceberg. OneBalance will bring chain abstraction to every DeFi product within the space, through the OB modular CA Toolkit. So, whether you are building the hottest new NFT marketplace, the fastest cross-chain perp/spot DEX, or the next-gen Polymarket, it’s vital you include OneBalance. Let us handle the complexities of going multi-chain so that you are free to focus on what matters most; your product.
Get in touch today, the next billion users are waiting.
My dApp is on a chain you don’t support yet. How can we work together?
Please get in touch! There are hundreds of chains within the ecosystem, and we work with clients on a case by case basis to not only ensure their core chains are included, but also future expansions plans are considered too. We are already receiving this type of requests and batching demand, so hearing from you will help us better manage our priorities and even put your chain in front of everyone else!
What chains and tokens do you support?
Currently OneBalance supports several EVM chains and tokens, ranging from native ETH to several L2’s including Base, Arbitrum and more. The full list can be found here.
Soon we will integrate non-EVM chains including Solana, native Bitcoin, SUI, Ton.
My dApp incorporates EOA’s. How will OneBalance work?
The OneBalance team is actively working on a solution that will be compatible with all EOA accounts. Get in touch today to ensure that your dApp will be among the first to incorporate a Chain-Free Web3 world.
