AFX has gone live with a sovereign Layer 1 mainnet built specifically for on-chain perpetual decentralized exchange (perp DEX) trading, positioning the network as a high-speed alternative to general-purpose blockchains. The British Virgin Islands-based firm said the chain is engineered to avoid congestion by isolating high-frequency trading activity in a dedicated environment.
At launch, the platform offers perpetual markets for Bitcoin, Ether, gold and crude oil with leverage of up to 40x. The initial product set is designed to span both digital assets and traditional macro instruments, with AFX targeting deep liquidity and capital-efficient trading from day one.
Technical design and performance targets
AFX’s network uses a DAG-based consensus mechanism combined with a modular ABCI framework, separating trade execution from consensus. The company reports median latency of around 100 milliseconds and throughput capacity above 100,000 transactions per second, metrics that aim to rival centralized venues.
A core element of the rollout is a zero-gas execution model that removes transaction fees entirely. According to AFX, this shifts performance focus toward the quality of data-driven strategies instead of fee optimization, and is intended to improve precision and cost-efficiency for active market participants.
Pro tools and margin engine
Alongside the mainnet, AFX introduced a pro-trader suite targeted at professional and algorithmic traders. The suite includes a margin engine requiring only a 1.25% maintenance margin, which the firm says is roughly four times more capital-efficient than typical systems, and permits real-time use of unrealized profits.
The network also natively supports the Financial Information eXchange (FIX) protocol. This gives quantitative and institutional firms a direct link between decentralized liquidity and their existing algorithmic trading infrastructure, reducing the need for major software overhauls.
Economic model and community focus
AFX operates under a community-based economic structure with no venture capital or private fundraising. All revenue generated on the network is returned to users via a 100% pass-through model, aligning rewards with on-chain activity and contribution levels.
The company framed its sovereign Layer 1 as combining the transparency of decentralized markets with performance characteristics more commonly associated with enterprise-grade systems, emphasizing speed, scalability and operational autonomy.
Competitive context in perp DEX markets
The launch comes as perpetual DEX activity moderates from previous peaks. Aggregate daily trading volume across perp DEX platforms recently hovered around $15.4 billion, amid a broader pullback that saw monthly volumes fall from $1.36 trillion in October 2025 to $699 billion by March 2026.
AFX enters a field dominated by established players. Leading venue Hyperliquid recorded about $185.5 billion in trading volume in the month leading up to early April 2026, a benchmark that will frame early adoption expectations for the new network.
Adoption signals and early metrics
Market participants are expected to watch whether FIX connectivity accelerates uptake among institutional desks, and whether support for non-crypto assets such as gold and crude oil broadens the platform’s user base beyond digital-asset specialists.
Early on-chain data will provide the first measurable test of AFX’s claims. Changes in total value locked, the number of active users and realized transactional throughput will be key indicators of whether the mainnet can deliver its advertised performance under live market conditions and attract sustained liquidity.
Want deeper insight into DEX vs CEX dynamics before exploring AFX? Start with our guide on choosing the right platform.
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