RWAperp has officially launched the first perpetuals trading venue on X Layer, the Ethereum layer-2 network developed by OKX. The platform opens with 19 markets spanning global equities, indices, commodities, and cryptocurrencies, all collateralized and settled in USDC from a single account. This launch marks a significant step for X Layer, which until now has lacked a derivatives venue despite hosting major DeFi protocols like Aave and Uniswap.
The timing aligns with a surge in equity perpetuals, which have become the fastest-growing category in crypto derivatives. According to recent data, stock perpetual futures volume on centralized exchanges reached $665.42 billion in August, a 56-fold increase from January's levels, with activity heavily concentrated in semiconductor and memory stocks. This explosive growth underscores the demand for alternative access to traditional equity markets through crypto-native infrastructure.
AI-Powered Agent Mode
RWAperp's key differentiator is its Agent mode, an AI layer that allows traders to manage positions using natural language instructions. Instead of manually placing orders, users describe their intent, and the AI handles position sizing, entry, and ongoing management. For those who prefer traditional execution, the platform also offers a conventional order-book terminal.
Underpinning both interfaces is a composite multi-issuer oracle and a risk engine specifically designed for equities, rather than adapted from crypto. This is crucial because equity markets exhibit unique characteristics—such as trading halts, overnight gaps, and corporate actions—that standard crypto perpetuals infrastructure is not built to handle. RWAperp's engine accounts for all these scenarios, aiming to provide a more robust trading environment.
“Every equity perpetuals venue trading today is crypto infrastructure with stocks bolted onto it. That holds up until a stock halts mid-session, or gaps overnight, or announces a split. We built the risk engine for equities first and crypto second, and I think within a year the venues that did it the other way round will be rewriting their liquidation logic in public,” said @hurringtonXYZ, COO of RWAperp.
Market Coverage and Backing
At launch, RWAperp offers markets for major cryptocurrencies (BTC, ETH, SOL), leading tech and semiconductor stocks (Nvidia, AMD, Intel, Tesla, Meta, SK Hynix, Samsung, Micron, SanDisk, SPCX), indices (S&P 500, DRAM index), and commodities (gold, silver, WTI crude). All positions are settled in USDC, eliminating the need for brokerage onboarding, local custody, or currency conversion.
The venue is backed by a $2 million funding round at a $50 million valuation, with participation from notable investors including Brad Bao (co-founder of Lime), Tim Shi (co-founder of Cresta AI), Phil Duan (Tesla Autopilot), William Freiberg (Crux), and Charles Ferguson, alongside scouts from a16z and Sequoia. This backing provides credibility and resources for the platform's ambitious roadmap.
RWAperp's launch on X Layer comes as the network continues to expand its DeFi ecosystem. X Layer recently surpassed $100 million in total value locked, now at roughly $113 million, with over $2 billion in stablecoin supply. The addition of a derivatives venue is expected to attract more traders and liquidity to the network.
As equity perpetuals gain traction, RWAperp aims to carve out a niche by focusing on assets that other platforms overlook. By combining AI-driven execution with an equity-first risk framework, the platform seeks to offer a more sophisticated and reliable trading experience for both retail and institutional investors.
This article is for informational purposes only and does not constitute financial advice.
