BTSE is on a mission to list more and more perpetual futures every week, underscoring our goal to be the go-to exchange for crypto futures trading. When choosing which perps to list, we look at a wide range of data across the industry, measuring their buzz, momentum, and interest amongst traders. These are the three perps we listed this week and why they’re trending:
Horizen (ZEN-PERP)
What Horizen Is and How It Works
Horizen is a blockchain that was originally built under the name ZenCash, utilizing ZK-proofs to accelerate and validate transactions. “ZK”, or “Zero Knowledge” proofs, is when a prover is able to confirm a block transaction with a verifier, without revealing any impertinent info.
ZEN Token Details
- https://www.horizen.io/
- Market Cap: $119,944,160
- 24 hr Trading Vol: $6,901,825
- Max Supply: 21,000,000 ZEN
- Perp Contract Name: ZEN-PERP
- Perp Open Interest: $9.14M
Why ZEN-PERP’s Trending
Horizen has been around for over seven years. But late last month, they released the Horizen 2.0 whitepaper, announcing an EVM (Ethereum Virtual Machine) chain tailored specifically to the needs of zero-knowledge dApps. Beneficial for both developers and users, its Ethereum tools and protocols help with a smooth transition and integration for developers; and for users, improved experience across various chains within the DeFi environment.
With Horizen 2.0, block time has been reduced from ~2.5 min to just six seconds. Horizen claims to have solved the many issues of ZK-proofs that are commonplace throughout the industry, and by utilizing the latest proving mechanisms, Horizen 2.0 promises incredible performance without sacrificing EVM capabilities. Start trading ZEN-PERP here.
Jito Network (JTO)
What Jito Network Is and How It Works
Jito Network is a liquid staking protocol built on the Solana blockchain. Users deposit their SOL tokens, and in return, receive Jito-staked Sol tokens.
JTO Token Details
- https://www.jito.network/
- Market Cap: $298,350,229
- 24 hr Trading Vol: $58,743,417
- Max Supply: 1,000,000,000 JTO
- Perp Contract Name: JTO-PERP
- Perp Open Interest: $35.42M
Why JTO-PERP’s Trending
Recently, Renzo Protocol, known for providing liquid restaking on ETH, has collaborated with Jito Network to launch ezSOL, a SOL derivative token that offers holders exposure to Jito’s MEV yield-generating infrastructure, maximizing rewards for them. MEV, or Maximal Extractable Value, is the value that can be extracted from block production beyond standard block rewards.
ezSOL is considered to be the first liquid staking token (LRT) on the Solana blockchain, and has been driving buzz across the industry. Renzo’s credibility has driven renewed interest in JTO; Renzo is the third largest re-staking protocol by TVL on the ETH chain, with$1.29 billion staked as of the time of writing. Trade JTO-PERP now.
Saga Protocol (SAGA)
What Saga Protocol Is and How It Works
Saga Protocol is a Layer-1 chain that puts developers first by addressing one of the three blockchain trilemmas: scalability. Saga Chainlets help provide infinite horizontal scalability – a methodology that distributes loads across multiple nodes, which helps optimize resources and increased processing power for growing user bases. This is crucial for developers building projects for scale.
Other benefits include more options for developers to tailor monetization models to their needs, and more interoperability for users across different chains. Projects built on Saga range from DeFi to Web3 gaming, and more.
SAGA Token Details
- https://www.saga.xyz/
- Market Cap: $130,808,712
- 24 hr Trading Vol: $55,011,572
- Max Supply: 1,000,000,000 SAGA
- Perp Contract Name: SAGA-PERP
- Perp Open Interest: $28.67M
Why SAGA-PERPs Trending
They have recently announced the launch of a Liquidity Integration Layer, an innovative solution to the widespread problem of liquidity fragmentation in DeFi. Liquidity fragmentation is when liquidity is spread across different protocols, resulting in higher costs and slower transactions.
Saga’s plan for its Liquidity Integration Layer (LIL) works like this: when a new chainlet is launched, connection to the LIL will result in access to tokens, services, and more from other chainlets, as well as other ecosystems such as Ethereum. Its integrated approach differs from other competitors (e.g.appchains or rollups), and this is what will make it a unique and appealing proposition for many developers in the years to come. The release of LIL has resulted in a major 30% jump in SAGA’s token price. Get SAGA here!
Key Takeaways
- Innovations to address fundamental issues within blockchain technology are on the rise, and these three companies all have unique solutions for a specified target market according to their needs.
- Horizen 2.0 EVM provides enhanced scalability and efficiency for the Ethereum network.
- Jito Network’s collaboration with Renzo Protocol brings new rewards and opportunities for stakers.
- Saga Protocol’s Liquid Integration Layer is a unique solution that answers one of DeFi’s biggest challenges: liquidity fragmentation.
For more announcements on exciting tokens, click here!
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Note: BTSE blog content is intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
