Hubble Exchange is a decentralized platform for trading perpetual futures on Avalanche. Utilizing Avalanche’s low fees and highly scalable infrastructure, Hubble Exchange aims to offer an Avalanche-native experience for trading perpetual futures with its multi-collateral, cross-margin design.

Hubble Exchange has launched a native perpetual futures exchange on Avalanche. The exchange lets traders collateralize multiple tokens to trade perpetual futures contracts, giving traders the ability to maintain exposure to digital assets while using them as collateral to trade perpetuals. Today, Hubble supports AVAX, USDC, and Hubble Virtual USD (hUSD) as collateral. BTC, ETH, and Avalanche-native assets will come in the future.

Hubble Exchange’s many features aim to give traders more options and a better experience. Cross-margining, which automatically utilizes PnL from one position to either offset losses or increase leverage in other positions, aims to increase capital efficiency. On Hubble Exchange, makers (liquidity providers) can collateralize assets while providing liquidity. They can also provide liquidity on leverage (up to 5x) and earn trading fees on leveraged liquidity. This lets makers do more with their assets on Avalanche.

Source

In this dashboard, I have provided an analysis of Hubble Exchange, the first decentralized perpetual futures orderbook on the Avalanche network. The purpose of this analysis is to examine the platform's activity over the past 30 days and observe how users behaved following the significant downturn in the crypto market around June 10th. Additionally, we will take into account the testnet launch that occurred on June 6th, just a few days prior to the market crash.

To gather the data for this analysis, I utilized the Avalanche.core schema provided by Flipsidecrypto. Specifically, I extracted data from the fact_transactions and ez_decoded_event_logs tables. I focused on the Hubble Exchange contract address: 0x4e3535964cb5612a466d8bb25362d485452efcef.

The inspiration behind creating this dashboard came from a tweet by hubbleintern, which highlighted the efficiency, composability, and impacts of Hubble Exchange on the Avalanche network. To gain a better understanding of the platform's performance over the past 30 days, I decided to conduct this analysis.

Please note that you can adjust the timeframe to your desired period by modifying the Last_Days field at the top of the dashboard. This will allow you to explore the data within your preferred timeframe.