edgeX is a perpetual DEX with a central limit order book on Ethereum. Its V1 focuses on execution and reliability with high throughput, sub-10 ms matching, and self-custodial access across web and mobile. Liquidity is provisioned through the eLP vault, which currently acts as the traders’ counterparty. October 2025 was a record month with $137.9 billion in volume and $52.4 million in fees, and total value locked reached $432.3 million as of Nov. 26, 2025. Coverage today spans more than 100 pairs, with up to 100x leverage on major assets and up to 5x on long-tail assets. The Open Season program distributes points weekly on Wednesdays through Dec. 11, 2025, with allocations tied to activity such as trading and deposits. Looking ahead, V2 transitions edgeX from a perpetual DEX to a market-focused Layer 2 network with modular, multi-VM execution and deterministic parallel transaction execution, as well as a flash lane, targeting Q1 2026. The rollout introduces spot markets, Polymarket integration, and planned tokenized stocks, coinciding with the launch of EDGE.