Paradex has reported remarkable growth metrics during XP Season 2, showcasing a significant surge in trading activity and user engagement. The platform's performance highlights its increasing popularity and the effectiveness of its incentive programs, as the material points to an encouraging trend: more users are actively participating in the market.
Paradex Sees Explosive Growth in Trading Volume
The average daily trading volume on Paradex skyrocketed from $68 million to an impressive $21 billion, marking a staggering 31-fold increase. This surge reflects heightened trading activity and user interest in the platform's offerings.
Significant Rise in Open Interest and Total Value Locked
In addition to trading volume, open interest saw a substantial rise, climbing from $28 million to $679 million, which represents a 24-fold increase. The total value locked in the platform also experienced significant growth, increasing from $25 million to $218 million, a 9-fold rise.
Dramatic Expansion of User Base
The user base expanded dramatically, growing from 41,000 to 703,000, indicating a 17-fold increase in active participants. In the final week of the season, Paradex rewarded its active users by distributing 6 million XP directly to their wallets, alongside additional rewards through referral codes and affiliate programs. Notably, users who accumulated over 25,000 XP during this period were also granted exclusive BadgerBox drops.
Recently, Paradex addressed a significant software error that resulted in unintended liquidations for users, refunding $650,000 to those affected. This incident contrasts with the platform's recent growth metrics, highlighting its commitment to user protection. For more details, see read more.
