Sai has announced the launch of Sai Perps, a perpetuals trading platform built on the Nibiru blockchain. The platform aims to combine a centralized exchange-like user experience with the transparency of onchain settlement, offering gasless transactions. The launch is accompanied by “Let’s Go Saicho,” a month-long trading competition featuring a $25,000 prize pool split between two phases for traders.
The decentralized finance protocol Sai has launched Sai Perps, a new perpetual futures trading platform. It is designed to offer a streamlined, gasless trading experience while ensuring all settlements occur onchain.
The platform is built on the Nibiru smart contract ecosystem. Sai contributor Matthias Darblade stated that “onchain markets shouldn’t require traders to compromise between speed and self-custody.”
Sai Perps utilizes an oracle for settled pricing that reflects global markets. The protocol claims this design reduces scam wicks and maintains low slippage.
To celebrate the launch, Sai has introduced the Let’s Go Saicho trading competition with a $25,000 total prize pool. The first phase, from February 18 to March 4, is a PNL contest where 50 profitable traders will share $20,000.
A second “Be Early” phase will run from March 5 to March 19. It will reward 50 traders who meet a volume threshold with a share of a $5,000 prize pool.
The protocol’s future roadmap includes expanding into stocks, commodities, and foreign exchange markets. It also plans to introduce cross-chain deposits and a yield feature called Sai Savings.
