DAPPS

How Rapid Listings Power Perp DEX Growth at Paradex

Total trading volume

markets listed

integrated chains
Feb 27, 2026

Executive Summary

Paradex leveraged Stork's nimble perp DEX oracle infrastructure to grow volume quickly, rising in the rankings of perpetuals exchanges by listing new assets on the same day they are issued. This capability became a key growth driver during Paradex's explosive expansion in 2025, enabling the platform to attract new users, capturing traders’ enthusiasm for newly launched tokens and privacy assets. 

Perp DEXs, or perpetuals futures exchanges that enable onchain trading execution, offer traders straightforward, directional exposure with leverage on a wide range of assets. Blockchain oracles provide price feeds perp DEXs use to operate.

Paradex’s Explosive Expansion in 2025

Line chart showing Paradex volume vs time, demonstrating growth possible with a responsive perp DEX oracle.
Fast perp DEX oracle support for new TGE tokens helped Paradex’s volume grow rapidly.

The Paradex Growth Story: Q2 2025 and Beyond

Paradex experienced exceptional growth during its Season 2 rewards program, which ran through the second half of 2025 and concluded in January 2026. The platform's metrics tell a compelling story:

  • Average daily volume: $68M → $2.1B (31x increase)
  • Open interest: $28M → $679M (24x increase)
  • Total Value Locked: $25M → $218M (9x increase)
  • User base: 4,100 → 70,300 (17x increase)

This growth was driven by multiple innovative features Paradex developed, including Zero Fee Perps, Privacy Perps, and enhanced infrastructure. The platform's ability to rapidly list new assets also played a critical role in attracting and retaining traders.

Top Perp DEXs by Open Interest

RANK EXCHANGE OPEN INTEREST
1 Hyperliquid $4.96 B
2 Aster $1.86 B
3 edgeX $999 M
4 Lighter $742 M
5 Paradex $586 M

Source: CoinGecko, Feb 10 2026.

Perp DEX Strategy: Winning the Race to List

For perp DEXs, timing is everything. Token Generation Events (TGEs) create concentrated windows of trading activity as early adopters and speculators rush to establish positions. The exchange that lists first captures the majority of this initial volume.

According to Paradex's team: "Listing new assets on speed was beneficial for our growth—we've been aiming at beating competitors around new TGE events or, for example, being one of the first DEXs to have all major privacy tokens listed before anyone else had. We've absolutely been getting a lot of requests for TGE projects that went live in the last few months."

This strategy delivered measurable results. Paradex's top 4 markets by first-week trading volume demonstrate the impact:

Top 4 Paradex Contracts by Week 1 Trading Volume

MARKET WEEK 1 VOLUME
ASTER-USD-PERP $124.8 M
XPL-USD-PERP $51.4 M
LIT-USD-PERP $22.8 M
MON-USD-PERP $21.0 M

Source: Paradex.

These four markets alone generated over $200 million in trading volume within their first seven days of listing, and Monad’s first week amounted to nearly half the volume that would trade from launch through mid-February. For perp DEXs, reliable, just-in-time oracle price feeds are a mission-critical growth lever. 

A Nimble Oracle Helped Paradex Capture Volume

Stacked 100% column showing how Day 1 perp DEX support of markets in ASTER, XPL, MON, LIT helped drive first-week volume that made up a significant share of total volume in these assets.
Fast perp DEX oracle support allowed Paradex to capture initial enthusiasm for TGEs like ASTER, XPL, MON & LIT.

Spotlight: The ASTER-USD-PERP Launch

The ASTER-USD-PERP market exemplifies Paradex's listing advantage. By making perpetuals trading available on Day 1 of the asset's launch, the market immediately attracted significant trader interest:

First Week Performance:

  • Trading volume: $124.8M
  • Position: Top newly listed market by volume
  • Outcome: Established Paradex as a leading venue for ASTER perpetuals trading

By being early to market, Paradex captured traders establishing initial positions, setting stop losses, and reacting to early price discovery. This first-week advantage often translates into sustained market leadership as traders develop habits and maintain positions on the platform where they first entered.

The rapid launch also signaled to the broader trading community that Paradex was the place to be for new asset listings, creating a virtuous cycle where traders increasingly monitored Paradex for new opportunities.

The Technical Edge: How a Better Oracle Makes It Possible

Traditional oracle solutions create significant delays in listing new assets on perpetual markets. DEXs must wait for:

  1. Asset price feeds to be established
  2. Historical data to accumulate for risk calculations
  3. Oracle providers to validate and publish the new feed
  4. Smart contract integrations to be tested and deployed

Stork's architecture eliminates these bottlenecks through three key capabilities that combine data reliability and uptime with speed to market:

1. Built for Low Latency

Stork built its oracle architecture for perp DEXs, the most demanding use case in DeFi. Stork aggregates price data from multiple sources and delivers signed price updates to chains with millisecond latency. Emphasis on efficient architecture has also made Stork nimble. As soon as a new asset begins trading on major venues, Stork can provide reliable price feeds.

2. Flexible Feed Provisioning

Unlike traditional oracles that require lengthy onboarding processes for new price feeds, Stork can rapidly provision feeds for newly launched assets. This agility is essential for perpetual DEXs competing to be first to market on TGE events.

3. Pull-Based Oracle Model

Stork's pull-based architecture allows Paradex to request price updates on-demand rather than relying on scheduled pushes. This means the DEX can verify price feed availability and quality before officially listing a new market—reducing the risk of launch issues while maintaining speed.

Looking Forward: Season 3 and Beyond

With the $DIME token launch planned for early 2026, Paradex is entering its next growth phase. Season 3 will expand the platform's offerings to include Spot markets, RWA Perpetuals, and Options, each requiring reliable price feeds for an even broader set of assets.

Stork's infrastructure will be critical as Paradex scales its listing velocity across multiple product categories. The ability to rapidly launch new RWA perpetuals markets, potentially for commodities, equities, or other real-world assets, will be a key differentiator in an increasingly competitive landscape.

Conclusion

Stork provides price feeds to a wide range of DeFi use cases, and has differentiated itself as a perp DEX oracle in particular, by providing low-latency price feeds on a wide range of assets, including new digital assets issued via token generation events (TGEs). On any given day, Stork’s oracle price feeds power the largest share of volume in perp DEX markets, far more than oracles like Chainlink or Pyth, which primarily serve DeFi lending protocols.

Perp DEX Oracles Are Not Created Equal

Column chart showing monthly volume by perp DEX oracle shows Stork's dominant market share.
Stork's dominant share of the perp dex oracle market comes from its longstanding leadership in low latency, high uptime and wide coverage.

Paradex's partnership with Stork Oracle transformed a technical capability (fast price feeds) into a strategic weapon (same-day listings). By eliminating oracle-related delays, Stork enabled Paradex to consistently beat competitors to market on high-demand new assets, driving significant trading volume and user acquisition.

In a market where first-mover advantage can define platform success, Stork's ultra-low latency infrastructure gave Paradex the speed to win and the reliability to scale.

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