00:00In today's video, we're looking at Lighter, Paradex and Apex Omni, right?
00:05So these are all ZK derivatives platforms and we will be doing a clear comparison because
00:12these ZK powered derivatives exchanges actually just eliminate the primary trade of Sofa Legacy
00:19DeFi, right?
00:20So that's providing off-chain matching speeds with cryptographic non-custodial on-chain
00:26settlements via those ZK validity proofs.
00:29And when we look at the total MEV or front-running immunity that they present because of those
00:36limit orders that are matched off-chain and verified in batches, quotes never actually
00:42enter a public sort of mempool, which makes front-running and sandwich attacks impossible.
00:49So DEXs like Lighter, they're offering pure zero-knowledge validium order books trading
00:55on Ethereum while we are looking at other platforms like Paradex that actually utilize
01:01the Stacknets, ZK Stacks for institutional privacy as well as Apex Omni providing multi-chain
01:07intent execution and zero-gas on order edits as well.
01:13So all of these platforms are pretty decent.
01:17And we've done full comprehensive reviews of all of them individually on our main site.
01:21So you can go check those out.
01:22And in the link, the description of this video, I will link the full guide and article so you
01:28can also check out those individual reviews.
01:31Plus, you can get the referral links and the codes when you decide to use these platforms.
01:37So you can get some pretty good fee rebates and also priority developer keys if you want
01:44to play around on these DEXs.
01:47So when we just look at what kind of a solution all of them are trying to solve, there is
01:53that
01:53scaling bottleneck, right?
01:55The ZK roll-up solution, many years, decentralized derivatives kind of struggled with a fundamental
02:01engineering compromise.
02:03That's how do you get a good execution on speed and also have on-chain security.
02:08So those standard layer ones and optimistic kind of roll-up DEXs that we saw over the last
02:14cycle force kind of for every order submission, cancellation and also modification actually to
02:20interact on-chain in that on-chain state and public sequencer mempools, which makes vulnerabilities
02:27kind of a very, very real threat for active traders because you can just look at the gas
02:35fee burn or unfilled quotes, the public mempool MEV exploitations that you see, or just kind
02:42of having that execution lag and not having the proper latency, right?
02:47So now you've got all of these other solutions that are coming up and what we've done is
02:52actually just evaluate the zero-knowledge derivatives platforms using five main kind of quantitative
02:59criteria like the proof generation or verification speed.
03:03So that's just the time elapsed between off-chain order execution and then the finality of the
03:09ZK proof on the layer one or layer two chain that they're using.
03:12And we also look at the order submission latencies, the privacy of the mempools or front-running
03:17resistance, and also just, you know, the added gas efficiency on the orders as well, because
03:24these are costs that you can incur when you're creating or updating or cancelling limit orders,
03:30which is quite annoying.
03:31And also we look at the fifth criteria, which is the cross-margin collateral flexibility and
03:37how, you know, support for those multi-asset deposits or yield-bearing collateral within
03:43that ZK environment is something, you know, you as a trader might be very, very keen on making
03:52sure that platform is able to provide for you.
03:54So when you look at just the architecture, light decks, they've got the validium order book
03:59on the DRM layer one.
04:01Gas on order edits actually is zero, which is really good.
04:05So there's no gas fee there, the primary advantage is obviously the kind of a sub 50 millisecond
04:11fills that you can get, which is pretty good considering they're using the deterministic
04:15limit quotes as well.
04:16So you can get started with lighter decks.
04:19The link is in the description, or you can use a StuckNet app chain, Paradex.
04:24Okay.
04:25So this obviously, like I said, focuses more on that institutional privacy and portfolio margin
04:30and Apex Omni also using StuckWake, StuckX, Validium there with a multi-chain deposits on
04:36Ethereum, EVM, or if you want to do a real world asset perps as well.
04:41So what we actually do is in that review that I've dropped the link in the description there,
04:46we actually go into kind of the platform deep dives.
04:49We look at Light, Paradex, and Omni as well.
04:54And we have a set of FAQs if there's just a little bit more info that you need, or you
05:00can just kind of see all the articles that are linked back on our site that kind of cover
05:04these topics in much more greater detail.
05:06But let me know what your thoughts are, which platforms have you used or do you kind of like
05:11when you're considering the platforms that are using ZK knowledge proofs to give you that
05:17extra privacy, like, share, and subscribe, turn on the notifications, and I'll see you guys in the
05:21next videos. Peace.
