1. Background IntroductionTethys Finance is a decentralized perpetual exchange built on zkSync, focusing on low-cost, high-speed trading with deep liquidity. The website features a dark-themed interface with neon accents, emphasizing its DeFi and trading-oriented nature. According to the platform, it aims to solve issues like high gas fees, slippage, and limited asset availability in traditional decentralized exchanges.2. Website Core ContentThe website is structured into five main sections: Dashboard showing real-time trading data and positions, Markets listing available perpetual contracts, Trade interface with advanced charting tools, Earn section for liquidity providers, and Docs containing whitepaper and API documentation. Notably, the dashboard displays real-time TVL (Total Value Locked) and open interest metrics.3. Technical FeaturesBuilt on zkSync Era for scalable and low-cost transactionsHybrid liquidity model combining AMM and order book mechanismsUp to 50x leverage for perpetual contractsMulti-collateral system supporting major crypto assets4. Token EconomyTETHYS token serves as the governance and utility token with three primary functions: fee discounts (up to 50%), staking rewards, and voting rights. Token distribution includes 30% for community incentives, 25% for team (3-year vesting), 20% for investors, and 25% for ecosystem development. The economic model incorporates a buyback-and-burn mechanism using 50% of protocol revenue.5. Similar Competitor ComparisonKey MetricTethysdYdXTransaction Cost$0.01-0.05$0.50-2.00Supported Assets15+30+6. Risks and ChallengesSmart contract audit shows medium-risk vulnerabilities in margin calculationsLimited fiat on-ramp options compared to centralized competitorsRelatively new protocol with 6-month track record7. Industry FutureThe roadmap highlights three 2024 priorities: 1) Cross-margin trading implementation 2) Mobile app development 3) Expansion to additional Layer 2 networks. Particularly notable is the planned "Institutional Portal" featuring advanced risk management tools and API connectivity for algorithmic traders.8. SummaryTethys Finance demonstrates strong technical execution and cost efficiency but faces challenges in liquidity depth and brand recognition. Overall rating 4.3/5, recommended for traders prioritizing low fees, with caution advised regarding newer protocol risks. 更多>