EdgeX is a decentralized perpetuals exchange positioned as a direct competitor to the market leader, Hyperliquid. The project is generating significant market interest through rapid growth and a points program expected to culminate in a major token airdrop in Q4.
| Metric | Data Point | Context | |||
| Weekly Trading Volume | Exceeding $10.5 billion | Corresponds to 200,000 points distributed in Week 14. | |||
| Total Platform Users | ~63,000 | Grew from ∼58,000, adding nearly 5,000 users in under 4 days. | |||
| Weekly Revenue | > $4 Million | Ranks #2 in the perpetuals market by 7-day revenue. | |||
| Market Standing | Revenue is nearly 4x that of the #3 market competitor. | Indicates strong profitability and market capture. | |||
2. Participation Mechanics and Point System
Participation is centered around the points program, which rewards users for contributing to the platform’s core business activities.
| Activity Category | Percentage of Points Pool | |
| Trading | 60% | |
| Referrals, Ambassadors, & Platform Events | 20% | |
| Vault Deposits | 10% | |
| Liquidations & Open Interest | 10% | |
| Total Trading-Related Allocation | 70% |
Point Value Scenarios
The analysis assumes a total of 6.6 million points will be generated by the airdrop event , which is expected in December (Q4).
Airdrop Allocation (Scenario)Calculated Value Per Point
Scenario A: 20% of Total Supply : $158.9
Scenario B: 30% of Total Supply : $238.0
Final Projection
Applying a conservative 20% discount factor to the primary scenarios: Conservative Value (20% Airdrop): ∼$127 per point. Conservative Value (30% Airdrop): ∼$190 per point .
Based on this comprehensive analysis, the final projection for the value of a single EdgeX point is estimated to be approximately 200U or slightly less.