In brief
- Sai has announced the launch of Sai Perps, a perpetuals trading platform.
- The platform is designed to offer a “clean, CEX-like experience,” with onchain settlement providing transparency and settlement guarantees.
- Sai Perps launches alongside Let’s Go Saicho, a one-month onchain trading competition with a $25,000 prize pool.
Sai has announced the launch of Sai Perps, a perpetuals trading platform designed to combine the accessibility of centralized exchanges with the transparency and self-custody of onchain settlement. The platform features gasless transactions, which Sai claims removes friction for traders while maintaining full onchain security.
“Onchain markets shouldn’t require traders to compromise between speed and self-custody,” Sai contributor Matthias Darblade said in a statement shared with Decrypt. “Sai Perps is designed for active traders who want a clean, CEX-like experience, while still getting the transparency and settlement guarantees that only onchain infrastructure can provide.”
Sai Perps offers a “streamlined trading experience” built atop smart contract ecosystem Nibiru, with onchain infrastructure that focuses on liquidity, risk systems and oracle design. Sai’s oracle settled pricing reflects global markets, which it claims reduces scam wicks and “makes Sai feel like a low slippage DEX even when liquidity appears light.”
Flexible collateral enables capital to be reused across positions, while Sai’s single asset vaults enable users to earn a share of fees without managing pairs, with collateral deposits of USDC or Nibiru’s Liquid Staked NIBI (stNIBI) token.
Let’s Go Saicho
To accompany the launch of Sai Perps, Sai has unveiled Let’s Go Saicho, a one-month onchain trading competition with a $25,000 prize pool. The competition kicks off with a PNL contest for profitable traders, running from February 182 to March 4, with 50 winners sharing a $20,000 prize pool.
It’s followed by a first-come, first-serve “Be Early” phase running from March 5 to March 19, which rewards traders who “engage early and hit a minimum volume threshold.” The second phase of the contest will see 50 winners sharing a $5,000 prize pool.
Following the launch of Sai Perps, Sai’s future roadmap includes stocks, commodities and FX markets, along with cross-chain deposits and Sai Savings, a yield on deposits feature.
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