[Paradex: Standing Firm During a Historic Liquidation Storm, Proving the Future of Perps DEX] @tradeparadex The market flash crash of October 10th and 11th was arguably the most violent chain liquidation in crypto history since 2025. BTC and ETH plummeted within hours, putting both mainstream CEXs and DEXs under extreme pressure. But amid this "deleveraging apocalypse," one platform not only remained stable but also became a turning point for the entire industry— Paradex. ⸻ 🚀 Field-proven: Paradex robustly withstands extreme stress tests During the largest on-chain liquidation wave in history, Paradex maintained complete trading continuity: • No downtime: Even when chain congestion slowed processing speeds, trading continued normally without interruption. • No major platform issues: A small number of accounts were affected by the "trade bust," but the team subsequently completed full refunds and resynchronized the status, ensuring the integrity of all users. • No payout risk: No socialized loss or automatic liquidation (ADL) mechanisms were triggered. Paradex firmly refuses to use Auto-Deleveraging (ADL) because it undermines cross-platform hedging and amplifies liquidation uncertainty. The Black Swan incident not only failed to bring down Paradex, but instead became its strongest practical endorsement. ⸻ 💡 Paradex Design Philosophy: Reject ADL and Return to a True Fair Market Auto-Deleveraging (ADL) has long been considered a "risk control talisman" by CEXs and some DEXes. However, in reality, it renders hedging strategies ineffective and spreads risk to innocent users. Paradex has chosen a more difficult path: Using socialized loss as a last resort to ensure fair risk distribution. Meanwhile, the GigaLiquidator (GL) system and on-chain monitoring maintained market stability. Following this incident, the team completed the following upgrades: • Deployed Cairo Native, instantly doubling throughput • Enhanced on-chain position limits and cloud-based verification mechanisms to prevent trade busts • Increased account synchronization frequency to strengthen state consistency • Issued $604,000 in compensation to Gigavault depositors and $160,000 in refunds to liquidated users Paradex not only weathered the storm, but also transformed it into progress. ⸻ 💰 Gigavault: Generating Excess Returns Amidst Market Bloodbath Gigavault (GV), Paradex's reserve and yield engine, performed exceptionally well during this crash: Even amidst extreme market volatility, GV experienced no losses, faced no repayment risk, and successfully achieved excess returns. This further demonstrates the operational resilience of Paradex's risk model, protecting user principal and system stability under real-world stress tests. ⸻ 🌐 Why is Perps DEX the future? 1. Trust ultimately returns to the blockchain. The history of centralized platforms teaches us: "If you don't control the private key, you don't control the risk." Decentralized perpetual contracts (Perps DEX) are the next stage of true "self-custody." 2. High-frequency trading and liquidation logic have broken through bottlenecks. Cairo Native and Layer 3 solutions prove that: Decentralization doesn't mean slowness; on the contrary, it can be more stable under pressure. 3. A fair and transparent risk control framework. Paradex's refusal to use ADL means there is no unfair "passive liquidation." Every liquidation and every PnL can be publicly verified on-chain. ⸻ 🧭 Conclusion: Paradex is a template for the future. The Black Swan incident was a true stress test. While many platforms experienced disruptions and chaotic liquidations due to chain congestion, Paradex reliably fulfilled all orders, protected all users, and ultimately reimbursed all losses in full. In the future of decentralized finance, Paradex is not just a survivor, but a leader.