Hubble Exchange Launches Order Book DEX Built on a Custom Avalanche Subnet

Hubble Exchange, a new decentralized exchange built on an Avalanche Subnet, has launched its perpetuals platform that enables a key innovation: a fully decentralized matching and liquidation engine. Hubble’s decentralized order book comes with a UX resembling that of centralized exchanges yet keeping the composability and transparency of decentralized platforms, all while using USDC as a gas token.  

Hubble Exchange is the first product on Hubblenet, a new L1 Subnet built on Avalanche. An Avalanche Subnet gives Hubble  the ability to highly customize features. At launch, AVAX, ETH, and SOL are available for trading. More pairs will be added in the future.

USDC as Gas Token

The customizability of Avalanche Subnets allow Hubble Exchange to use USDC as the gas token, a significant UX boost for traders who no longer have to hold L1 and L2 coins solely to pay for gas. As USDC is already native on many EVM chains, this makes for a more convenient gas token. USDC is also the first collateral token on Hubble Exchange, which plans to add LSTs such as ggAVAX, sAVAX, and stETH as collateral options.

Hubble’s Robust Bridging System

By harnessing LayerZero, users are able to deposit assets directly onto Hubble Exchange from most EVMs in just a single click. Hubble is effectively creating a platform that could serve as the central trading hub of EVM blockchains such as Avalanche, Ethereum, Optimism, Arbitrum, Base, Polygon, and many others.  

Embedded Browser Wallet

Hubble is abstracting away a key DeFi UX hindrance: transaction signing. When users initially bridge assets to Hubblenet from other EVMs, a Hubble browser wallet is automatically created This wallet handles all transactions on Hubble. After the initial transaction, the wallet operates in the background, resulting in a cleaner and faster trading experience. 

Hubble Exchange’s DLOB

Most order book exchanges are centralized. Hubble is changing the playbook with a DLOB (Decentralized Limit Order Book). 

While a standard CLOB exchange performs some operations off-chain, all computations within Hubble Exchange, including order matching and liquidations, are carried out via Hubblenet’s validators. As a result, Hubble Exchange aims to feature the on-chain transparency of an AMM, and the high capital efficiency and pricing accuracy of an orderbook. 

As an order book, Hubble Exchange offers all the usual features of a centralized exchange but while creating much more extensive decentralization: Limit orders without slippage, tight spreads, and very low transaction fees. 

Composability: HubbleFi

In addition to Hubble’s CEX-like UX, its EVM and multi-collateral architecture enable new products to be constructed on top of the exchange, allowing for a robust HubbleFi ecosystem. This composability aims to unlock perp-based use cases across EVM Chains and drive trading volume to Hubble Exchange.

By design, Hubble Exchange is a multi-collateral perpetual futures protocol. Traders can maintain exposure to a diverse portfolio of assets while collateralizing their margin account. Multi-collateral and the composability of EVM opens to door to products built on top of Hubble, such as leveraged tokens or on-chain delta-neutral liquid staking strategies (in which traders would deposit sAVAX as collateral, and use the available margin to hedge exposure to AVAX. This would potentially enable you to earn the staking yield from sAVAX, without the volatile exposure).

About Avalanche

Avalanche is a smart contracts platform that scales infinitely and regularly finalizes transactions in less than one second. Its novel consensus protocol, Subnet infrastructure, and HyperSDK toolkit enable Web3 developers to easily launch powerful, custom blockchain solutions. Build anything you want, any way you want, on the eco-friendly blockchain designed for Web3 devs.

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