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