Introducing Nekodex

Perpetual Protocol
4 min readMay 6, 2024

After a solid year of development and months of meticulous testing, we’re excited to finally unveil Nekodex! With its streamlined user experience and unparalleled flexibility, Nekodex was crafted using our 4 years of DeFi experience and introduces a host of substantial improvements. Get ready for groundbreaking features and enhancements that are set to dramatically improve your trading journey.

What is Nekodex?

Nekodex is the beta version of Perp V3, where we’re bringing our Smart Liquidity Framework to life and partnering with ZeroDev, a leader in Account Abstraction wallet technology. Together, we’ve developed a silky smooth mobile experience that will change your conception of crypto trading forever.

Picture this: trading that’s better than your favorite centralized exchange — no waiting for for confirmation emails, no fear of your account getting frozen at random; and trading without the crypto headaches — trade without wallets, gas fees, or signing at every step. Meanwhile your account is secured with your phone biometrics like FaceID, and automated backups using Passkey and iCloud/Google One. Plus, it’s all optimized for your mobile phone, giving you the ultimate freedom to trade anywhere. You get incredible convenience, yet you’re in full control of your funds, all thanks to the latest DeFi tech operating smoothly under the hood.

Designed to support extensive testing and gather public feedback, Nekodex exclusively uses Nekocoin $(=ↀωↀ=) as collateral. Here are the highlights:

Wallet-Free Onboarding — Smoother Than Centralized Exchanges:

  • Innovative Login System: Nekodex is the first DEX to use Passkey and session key login with ERC-4337 account abstraction, meaning you don’t need a crypto wallet to start trading. Set up with just a tap using your phone’s FaceID or TouchID, giving you full control over your account security. Secure Passkey backups with iCloud or Google removes the hassle and worry of keeping your wallet seed phrase safe.
  • Smoother than CEX: Sign up in seconds, log in instantly. No wondering when the confirmation email is going to arrive or if you will wake up to a SIM-swap or a frozen account. Your trades are confirmed with a quick tap using Passkey-signed session keys so your trades are smoother and quicker than ever. You only need to sign with your Passkey for login and withdrawal.

Next-level Mobile Trading Experience:

  • Trade on Your Phone Like a Pro: You won’t believe how smooth trading with Nekodex is on your phone. With Progressive Web App (PWA) technology and Passkey integration, you no longer need to jump in and out of a wallet app to connect and sign. Everything is just confirmed with a tap in the app. Trading on your phone just got 10x easier!
  • Zero Gas Fees: Enjoy trading without the burden of gas fees. Thanks to the ERC-4337 standard, the Perp team covers all gas costs on Nekodex, ensuring a seamless trading experience.
  • Diverse Market Options: Trade up to 50 perpetual markets powered by the Pyth Network’s super fast oracles.

Advanced Security:

Nekodex has been rigorously audited by the Sherlock community to ensure the platform’s robustness and safety. Additionally, the use of Nekocoin $(=ↀωↀ=) as the only form of collateral cleverly minimizes the risk of material losses from security flaws. This proactive security measure ensures users are protected against unexpected vulnerabilities.

What is Nekocoin $(=ↀωↀ=)?

At the core of Nekodex’s trading experience is our newly introduced ERC-20 token — Nekocoin with its symbol: $(=ↀωↀ=). Exclusive to Nekodex, Nekocoin serves as the only collateral required for trading. Now here’s the best part: invited users can get free Nekocoin through daily airdrops! This means you can start trading and earn rewards on Nekodex with 0 upfront cost. Plus, you don’t even need to pay gas fees. Literally zero upfront cost to earn rewards. Keep an eye out for more opportunities to earn Nekocoin, which we’ll be announcing in the coming weeks.

Please note that you can only get Nekocoin from claiming it on Nekodex. Any other offer to get Nekocoin is a scam. You can verify the token address here. Additionally, for now Nekocoin is designed for use within Nekodex so it is not transferable and cannot be withdrawn. While currently not holding monetary value, there’s an exciting future ahead: in the coming months, you will have the opportunity to convert your Nekocoin into a transferable version. The more Nekocoin you accumulate, the more rewards you can claim.

Note: In order to ensure fairness, anti-sybil measures will be deployed as required.

Get started!

Starting today, explore the possibilities with Nekodex by visiting https://nekodex.org. Initially, access to Nekodex will be by invitation only. If you’re eager to dive in and contribute to refining our platform, we invite you to join our waitlist — check the app menu for the waitlist signup page.

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