PANews November 19 news, according to CoinDesk, the decentralized exchange Crypto Valley Exchange (CVEX), which focuses on cryptocurrency futures and options trading, announced plans to launch on January 8 after a period of testing. The exchange is partly owned by Lars Seier Christensen, the founder of Saxo Bank, and has more than 400,000 users registered for early access, with a community that has millions of followers on social media and messaging platforms. CVEX's mainnet will land on Arbitrum Stylus, a fast and cheap Ethereum layer-2 blockchain version that uses WebAssembly-compatible languages. Users will be able to avoid the high funding rates typically associated with perpetual contracts on other platforms, and the exchange promises trading rates that are '16 times lower' than existing centralized exchanges (market makers only charge a fee of 0.002%, while takers only pay a fee of 0.003%).
Earlier in April, it was reported that the decentralized exchange CVEX raised $7 million in two rounds of financing.
