Sai has unveiled Sai Perps, a new perpetuals trading platform designed to deliver a centralized exchange (CEX)-like trading experience with the transparency of on-chain settlement. The platform boasts gasless transactions, aiming to reduce friction for active traders while maintaining full on-chain security.
Matthias Darblade, a Sai contributor, stated that on-chain markets should not force traders to choose between speed and self-custody. Sai Perps is built on the Nibiru smart contract ecosystem, focusing on robust liquidity, risk management, and oracle design. The platform's oracle settlements aim to reflect global markets, mitigating scam wicks and providing a low-slippage experience.
Flexible collateral allows capital reuse across positions, and single-asset vaults enable users to earn fees without managing trading pairs. Collateral can be deposited using USDC or Nibiru’s Liquid Staked NIBI (stNIBI) token.
To mark the launch, Sai is hosting 'Let’s Go Saicho,' a month-long on-chain trading competition with a $25,000 prize pool. The competition includes a PNL contest for profitable traders and a "Be Early" phase rewarding early engagement and volume. Future plans for Sai include expanding into stocks, commodities, and FX markets, alongside cross-chain deposits and a savings feature.