Key Highlights
- Decibel is live on Aptos mainnet after a testnet with 700,000+ accounts, 132,000 daily users, and $58 million in pre-deposits.
- Everything runs on-chain, including orders, trades, settlements, and risk management, which happens automatically with smart contracts.
Decibel, a fully on-chain perpetuals exchange supported by Aptos Labs, is now live on the Aptos mainnet. This means users can now trade perpetual contracts directly on the blockchain, and everything from placing orders to settling trades and managing risk happens automatically with smart contracts.
The mainnet launch comes after a public testnet that had over 700,000 unique accounts, 132,000 daily active users, and more than 1 million trades per day. During the pre-deposit campaign, users put in over $58 million to start trading once the mainnet opened.
Fully on-chain infrastructure
The Decibel Foundation said the platform runs a fully on-chain central limit order book. This means every order, trade match, and settlement is visible and controlled by the blockchain. As a result, there are no hidden off-chain systems deciding who gets filled or who earns fees.
The platform also has an on-chain risk engine that automatically checks margin limits, calculates prices, and handles liquidations through smart contracts. Its native liquidity pool, built with the risk management company Gauntlet, helps provide liquidity and supports smooth trading even in volatile markets.
Cross-chain access and tools for traders
About 40% of the pre-deposited funds came from Ethereum and Solana users, showing the platform’s cross-chain appeal. Decibel uses a dollar-based stablecoin called usDCBL, issued by Bridge, a Stripe company, as default collateral for trades.
The platform also provides professional tools for traders, including APIs, subaccounts, real-time risk dashboards, and smart contracts that have been audited for security. Prices and liquidations are powered by Chainlink, giving reliable and fast updates for trades. Developers can also use Builder Codes to send trading volume through Decibel and earn a share of fees, helping the platform grow liquidity.
Entering a fast-growing market
Meanwhile, Decibel is joining a growing market for on-chain perpetuals, which recorded about $900 billion in trading volumes over the last 30 days, according to Defillama. It is built on a layer 1 blockchain and promises quick trades and precise liquidation.
The platform is competing with exchanges like Hyperliquid, which leads the market, and other platforms like Aster and Lighter. It also plans to expand beyond crypto derivatives to include spot markets, accounts with multiple collateral types, and tokenized real-world assets. Eventually, it hopes to bring stocks, foreign exchange, and other tokenized markets on-chain.
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