Defx is a decentralized exchange built on a purpose‑built Layer 1 blockchain optimized for high-performance perpetual futures trading. Featuring sub-millisecond matching and a central limit order book, it supports up to 25× leverage in regular mode and 1000× in Degen mode. Orders—sizes, leverage, PnL—are encrypted using zero‑knowledge proofs in private “dark pool” execution, while maintaining on-chain verifiability.