IntentX has grown to prominence as a top Perps DEX, with nearly 300 markets available for trading. The protocol serves as a frontend leveraging the OTC derivatives infrastructure of SYMMIO, along with other frontends including Based markets, Pear Protocol, Cloverfield, and Thena, with more likely to come.
IntentX has even evolved to have frontends of its own. Core Markets and Fenix Finance alike both bring the platforms perps tech to Blast, though IntentX indeed has its own official Blast deployment. And now, the platform has recently announced its expansion to Mantle, another chain ripe with points and incentives opportunities.
Stay alert, stay informed ⬇
Background on IntentX
IntentX is a next-generation OTC derivatives exchange offering perpetual futures trading. IntentX has a vision of becoming more involved in infrastructure, aiming to partner with key players and contribute to the ecosystem. The team sees potential for growth in on-chain derivatives sector as a whole, which currently represents just a small fraction of the total derivatives market, seeing it as an opportunity for collective growth without competition over a small existing user base.
Recently, IntentX has put a lot of effort into improving the user experience, from data analytics to front-end features like stop loss and take profit. The team has been quick to migrate to new chains, implement a points system, and is also planning on launching a Galxe campaign, among other growth efforts.
IntentX has facilitated $1.2B+ in derivatives volume to date
IntentX Manle Expansion
IntentX is rapidly expanding; their Mantle move comes just a week following their March 13th deployment on the Blast mainnet (which recently launched itself). Blast was the first multi-chain destination for IntentX. Whether it’s the native yield mechanics of the chain or interesting projects like Crypto Valley (YIELD), the Blast rollup has attracted a lot of users as well as developer talent. IntentX is building quite the presence on the chain when it comes to Blast. Despite this, Mantle’s home chain is set to be Mantle…
According to the team, IntentX’s Mantle move is the ‘most important deployment’ for the protocol. This is strong verbiage considering IntentX is only live on chains which are relatively popular, Blast and Base. This alludes to some big plans on the chain! This includes potentially being a recipient of the Mantle EcoFund. IntentX notably raised funds from Selini Capital, whose CIO, Jordi Alexander, leads Mantle as the Chief Alchemist. This was part of a $1.8M round, led by Selini.
In this video, our CEO, Nick Drakon, sits down with Jordi Alexander, Chief Alchemist at Mantle, to discuss the chain's plans going forward, exciting initiatives, and more.
Mantle will be IntentX’s “New Home”. Some of the attractive reasons for moving to Mantle include the $mETH, which is an L2-accessible way to get exposure to EigenLayer points after the team announced they would be sharing points with holders on the chain. $MNT staking is also set to kick off which will entitle stalkers to a share of Mantle core projects.
The Mantle expansion will kickstart IntentX’s full launch, which includes the final planned rollout of the platform. This means a UX/UI redesign is slated, as well as account abstraction to ease onboarding. Users will be able to access 1-click trading with email or Google accounts.
Current IntentX UI
Part of the full rollout of IntentX also includes the $INTX TGE. Currently, the platform has a point system for trading which will morph into the xINTX Trade-to-Earn campaign, where users can earn staked tokens for trading.
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