Wanted to quickly put World Markets on your radar. Been following them for a couple of weeks ahead of the MegaETH launch and their team is cracked. It’s a fully onchain DEX with universal margin → spot + perps + lending unified.
So, you can earn yield on your lent USDm and use it for collateral to trade spot or perps or both with leverage. Their value prop breaks down to two things: higher capital efficiency and better risk profiles for trades than anywhere else.
You can already bundle trades and put on a leveraged basis trade in one click, quite cool.
The lil alpha leak is that they are running a stealth points program. You earn points for:
- Lending out USDm as long as the IR is <5% (resting orders earn points too!)
- Trading volume
That being said, they’re still in Beta. Liquidity is quite thin and thus available leverage for basis trades low.
Funding is also insanely high, which is a great way to make money & farm points. I’m currently longing ETH perp on WM (-16.43% funding rate atm) and shorting the same size on HL (positive funding) to arb the rate.
I have yet to really sink my teeth into their ATLAS risk engine, but if the tech checks out and they can successfully attract and seed deep liquidity WM will carve out a real moat.
And as mentioned, I’m quite bullish on the team. Last time I was this excited was when I came across Ostium on testnet. Planning on writing something more substantive on WM in the future, stay tuned.