LogX

About LogX

LogX operates as a decentralized finance (DeFi) SuperApp, providing a comprehensive suite of on-chain trading products. The company was founded in 2021 by Akshit Bordia and Anshu Agrawal and is based in Bengaluru, India. The founders have a shared history of building products together for nine years, starting from their university days, and possess over five years of experience in blockchain entrepreneurship. Their past ventures include scaling a core payments product at CRED, India's largest fintech company, and launching a crypto yield app that attracted over 250,000 users in six months.

LogX positions itself as a liquidity aggregation platform for perpetual contracts, designed to address the fragmentation of user funds across different decentralized exchanges (DEXs). The platform aggregates liquidity from top centralized exchanges (CEXs) like Binance, Coinbase, and OKX, aiming to provide deep liquidity to its users. Since its launch in July 2023, LogX has achieved significant traction, surpassing $20 billion in trading volume with over 1 million users in its first ten months. The company has secured $10.1 million in total funding from prominent investors including Coinbase Ventures, Sequoia Capital, Hashed Emergent, and Cumberland VC.

The platform's business model centers on offering a seamless trading experience that aims to outperform centralized exchanges in speed and security. It utilizes technologies like Arbitrum Orbit for scalability, Hyperlane for cross-chain communication, and AltLayer to offer features such as gasless trading, high transaction speeds (over 30,000 TPS), and low latency. LogX's product suite is extensive, including perpetuals, spot trading, options, pre-market tokens, and leveraged prediction markets with up to 20x leverage. Revenue is generated through a 0.1% fee on the position size for traders. The platform's native token, $LOGX, is used for governance, gas fees, and revenue sharing, where 100% of net revenue is shared with token stakers through a buyback program.