Particle is a multi-product DeFi ecosystem built on the Blast network, focusing on Derivative trading and liquid reStaking to optimize users' Capital efficiency.
This ecosystem integrates many features such as Particle Trade Derivative platform, Duo Exchange liquid reStaking protocol and auxiliary utilities such as swap, earn, portfolio, leaderboard, helping users to trade flexibly and maximize profits.
- Particle is a DeFi ecosystem on the Blast network, developing two flagship products: Particle Trade and Duo Exchange.
- Particle Trade platform applies LAMM mechanism, providing unique trade, earn and liquidation features.
- Duo Exchange supports liquid reStaking ETH, USDB, WETH, providing Capital optimization and multi-source reward accumulation.
What is a particle?
Particle is a DeFi ecosystem built on the Blast network, combining Derivative trading products and liquid reStaking to bring a complete decentralized finance experience to users.
The project aims to create a multi-functional integrated platform such as trade, earn, swap, portfolio and leaderboard, helping users to trade, manage assets and optimize profits within a single ecosystem.
Amid the proliferation of Derivative trading and liquid reStaking platforms, BingX is also expanding its product ecosystem, providing many tools to help traders track trends, manage risks and optimize Capital more effectively.
The growth of platforms like BingX shows the growing need for smart and user-friendly trading infrastructure in the DeFi market.
What is Particle Trade Derivative Exchange?
Particle Trade is a Derivative platform that applies the Leverage Automated Market Maker (LAMM) mechanism, allowing Longing/ Short trading with flexible leverage and providing features such as trade, liquidation, and earn.
The LAMM model combines AMM with a leverage mechanism, providing automatic liquidation and optimizing trading efficiency, similar to the model that exchanges like GMX or DYDX have successfully applied in the Derivative field.
How does the Trade feature on Particle work?
The trade feature allows users to open Longing or Short positions with leverage depending on LP liquidation , supporting popular pairs such as USDB/WETH and DUSD/WETH.
When trading, users are charged three types of fees: a premium fee of 1%, a borrowing fee of 0.028%/hour, and a trading fee based on the leverage ratio. The premium fee is XEM quite high compared to the industry Medium .
“The 1% premium fee is how Particle balances the interests between LPs and traders, ensuring sustainable liquidation for the LAMM model.”
— Insights from the Blast Ecosystem Overview report, September 2025
How is Particle's Liquidation mechanism different from other exchanges?
Particle does not liquidate assets based on price movements but based on two conditions: the borrowing fee exceeds the insurance fee or the LP requests a liquidation withdrawal.
Users have 3 days to close positions when LP reclaims liquidation, otherwise the system will trigger liquidation and apply an additional 5% penalty fee. This mechanism helps to minimize the risk of unwanted liquidation.
“The way Particle handles liquidations based on debt interest rather than price volatility helps protect users from extreme volatility.”
— Arthur Hayes, Founder of BitMEX, Particle investor (2025)
How does the Earn feature generate profits?
The Earn feature helps users provide liquidation to the pool and receive interest, including two modes: Lite and Pro.
Lite mode is for beginners, just deposit assets and earn interest. Pro mode allows LPs to customize the liquidation provision price zone, similar to Uniswap V3, which maximizes profits but comes with a higher risk of Impermanent Loss.
Additional features in Particle Trade
In addition to the three main features, Particle also develops trading and community support tools such as Portfolio, LFG and Leaderboard.
Portfolio helps track PnL and trading history. LFG ranks accounts with high leverage volume, while Leaderboard aggregates reward points to help users compete and increase trading motivation.
What is Duo Exchange?
Duo Exchange is a liquid reStaking protocol in the Particle ecosystem, allowing Stake ETH, USDB, WETH to receive DETH or DUSD Token .
These two Token can be used in other activities such as trade or earn, helping users to utilize Capital effectively and at the same time receive rewards from many sources.
How Duo Exchange optimizes profits for users
When participating in Duo Exchange, users not only receive Staking interest but also receive points from three sources: Blast, Particle, and Ring Protocol. This is a potential Airdrop opportunity when these projects open Token distribution.
“Liquid reStaking will be the next big trend in DeFi, where users can both Staking and use Capital flexibly.”
— Vitalik Buterin, founder of Ethereum, at ETHGlobal 2025
Highlights of the Particle ecosystem
Particle differentiates itself by integrating Derivative and reStaking within the same ecosystem, providing multi-tiered point earning and yield capabilities.
Users can choose the reward form that suits their strategy: receive only points to optimize Airdrop opportunities or receive yield to increase real income.
| Characteristic | Particle | DYDX | GMX |
|---|---|---|---|
| Lever mechanism | LAMM | Orderbook | AMM |
| Liquidation | Based on loan fees & LP reclaim | According to price fluctuations | According to price fluctuations |
| Integrated reStaking | Yes (Duo Exchange) | Are not | Are not |
| Bonus points | Blast, Particle, Ring | DYDX Token | GMX Token |
Particle's development team and investors
The project is built by an anonymous team, consisting of MIT, CMU graduates and former Microsoft, Google, Meta employees, demonstrating high technical proficiency and clear product vision.
“We want to build the next generation of Derivative and reStaking infrastructure that brings real benefits to DeFi users.”
— Particle Development Team Representative, October 2025
Particle has successfully raised Seed Capital with the participation of major funds such as Polychain, Nascent, DCF God, Inflection and Arthur Hayes.
Although the amount of Capital raised has not been announced, the list of investors shows strong belief in the project's potential.
Similar Projects to Particle
Some projects in the same segment include:
- Thruster: DEX on Blast, Fork from Uniswap V2/V3.
- Uniswap: The most popular AMM platform, supporting V1, V2 and V3 versions.
Frequently Asked Questions
Is Particle a project under Blast?
Yes, Particle is built directly on the Blast network, leveraging the ecosystem's infrastructure to optimize performance and liquidation.
What asset pairs can I trade on Particle Trade?
Users can currently trade popular pairs like USDB/WETH and DUSD/WETH, with the possibility of expanding to more pairs in the future.
Is Duo Exchange safe?
Duo Exchange applies a liquid reStaking mechanism with periodically audited smart contracts, minimizing risks for users.
Is the 1% premium fee fixed?
Currently this fee is fixed, however in the future it may be adjusted according to market demand and LP liquidation .
Does Particle have its own Token ?
The project has not yet announced an official Token , but users can accumulate points to wait for the opportunity to receive Airdrop when the Token is launched.
