About Liquid

What is Liquid (LIQUID) in simple terms?

Liquid is a mobile-first perp DEX aggregator that connects to venues like Hyperliquid, Lighter, and Ostium so users can trade crypto perpetuals from one non-custodial app. You sign transactions; the underlying venues hold the positions. A quick take: it feels like a CEX terminal, but you never give up key custody. It’s built for people who want fast execution without juggling multiple DEX accounts.

How does Liquid’s non-custodial trading actually work?

Liquid acts as the routing and UX layer. When you trade BTC/USD, SOL/USDT, or any supported perp, the order is sent from your wallet directly to the venue—usually Hyperliquid. Positions, margin, and liquidations happen at the protocol, not inside Liquid. The app consolidates risk, PnL, and margin across venues so you don’t have to bounce between dashboards. It’s simple on the surface, but architecturally quite clean.

How will the LIQUID token fit into the platform?

The LIQUID token hasn’t launched yet, and the team hasn’t released confirmed utilities. Users expect it to anchor governance, incentives, or fee logic, but nothing is finalized. You might wonder whether it’ll mirror other perp tokens with community-heavy allocations. For now, the only grounded fact is that the ecosystem is building toward a token—not operating as if it will never have one.

Are LIQUID tokenomics or vesting defined?

No formal tokenomics exist yet. There’s no published total supply, no allocation chart, and no vesting schedule for team, investors, or early users. That also means no official unlock dates. Any circulating estimates or assumed percentages online are speculation. Worth noting: Liquid’s weekly points structure hints at a future way to measure user contribution, but that’s not the same as confirmed tokenomics.

Who funded Liquid and how large was the round?

Liquid raised $7.60M usd in its Seed Round on 3 Nov 2025. Paradigm led the round, with General Catalyst participating alongside several notable angels: Eric Wu, Ashwin Ramachandran, Alpen Capital (prev. Comfy Capital), smartestmoney, and Vladimir Novakovski. It’s an unusually strong investor mix for a young trading app, suggesting confidence in both the product and its chance to win a meaningful slice of perp DEX flow.

What activities or rewards can users access today?

Liquid runs a live points program and a referral system. Season 1 began on 18 November 2025, distributing 100,000 points in Week 1 and 100,000 points every week thereafter. Points are earned by trading and general app engagement. Referrals add a social layer—when invited users sign up and trade, the referrer collects ongoing rewards visible inside the app’s Referral Hub. No promise of future usd or usdt conversion is made.

What’s next on Liquid’s roadmap?

The listed development arc includes a web interface, broader analytics, and additional perp-venue integrations. Past that, the team has signaled interest in expanded risk tooling, multi-chain coverage, and eventually a governance or incentive layer tied to the LIQUID token once released. None of the phases are set to rigid public dates, but the north star is a unified trading layer that feels institutional while staying non-custodial.

What are the main risks when using a leveraged perp DEX aggregator?

Trading perps always carries liquidation risk—fast moves in BTC/USD or SOL/USDT can wipe margin even with good UX. There’s also dependency risk: if integrated venues face downtime, shocks, or technical issues, the experience inside Liquid degrades. Non-KYC derivatives access can attract regulatory pressure, particularly in the U.S. And since the token isn’t live yet, expectations around incentives or airdrops can misalign with eventual design.